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(From left to right) Antonello Bove of IICA; Minister, Denis Kellman; Sonja Trotman of the BIDC and the BMA’s Bobbi McKay speaking at the launch.(C.Pitt/BGIS) |
A number of entrepreneurs, executives and managers, from both public and private sector companies across the island, should now be better able to manage their businesses more effectively in order to boost exports, following a three-day workshop entitled Project Management for Export.
The initiative which got under way today, kicks off the third series of FinpyME workshops for Barbados’ manufacturers and is being hosted by the Barbados Manufacturers’ Association, the Barbados Investment and Development Corporation, the Inter-American Investment Corporation and Scotia Bank.
Minister of Industry, Small Business and Rural Development, Denis Kellman, during his address at today’s launch, described the workshop as "timely", noting that manufacturers were currently facing some challenges in trying to penetrate the export market.
"…Some companies fail to capitalise on opportunities due to the lack of market intelligence, and the lack of knowledge regarding the requirements and standards of those markets to which their products should conform. They also fail when orders received do not meet the requested deadlines," the Minister stated.
While boasting the excellent quality of items produced in Barbados, Minster Kellman pointed out that many companies were facing economic difficulties, which, as he underscored, may be due to poor management techniques.
"It has been said time and time again that many of the products produced in Barbados can compete with those produced elsewhere on quality, yet the viability of many of the companies come under threat and the struggle remains ongoing to keep their doors open. When one digs beneath the surface, it is often discovered that it is how these companies are managed that lay at the root of the problem," the Small Business Minister stated.
He identified some of the issues which were challenging the survival of companies, and which fell under management’s portfolio, as: "the timely procurement of raw materials and other inputs, recruitment of the right staff for the business and the application of appropriate technology".
Mr. Kellman pointed out that the workshop would be beneficial in assisting business persons to overcome their challenges, and "improving the understanding of areas and processes necessary for planning, carrying out, monitoring and concluding a project successfully, as well as the management of human and material resources."