Minister of Energy and Business, Kerrie Symmonds, has praised the Barbados Trust Fund Limited’s (BTFL) most recent initiative for entrepreneurs – the Manufacturing Incubator Programme (MANUFEST), saying it will help them to “be fixed in this country’s landscape”.
Mr. Symmonds expressed the view on Friday as he spoke at the launch of MANUFEST, at Bagnall Point Gallery, Pelican Craft Village, St. Michael.
The Minister described the new initiative as being necessary, critical and essential for entrepreneurs, and “heartily” endorsed it. He said the MANUFEST programme was about embracing, encouraging, empowering and educating micro business people.
“This MANUFEST exercise is helping us…bring a different form of reality. It is about making small businesses being able to move to the stage where they are…not just hoping to get through, but drop an anchor, be fixed in this country’s landscape.
“This MANUFEST effort is about going to the core of some of the structural issues that businesses must be able to overcome…. MANUFEST is about making sure that the micro business people are educated, trained, empowered and put in a position where they can independently now demystify the challenges,” Mr. Symmonds stated.
Business Development Consultant with the BTFL, Nicole Forde, said the eight-week initiative, which started on October 22 and continues until December 10, would provide entrepreneurs with the tools needed to respond effectively to market changes, leverage new opportunities and create strategies that would allow them to excel in their endeavours.
MANUFEST, Ms. Forde explained, was created to take entrepreneurs on a developmental journey, tailored at improving business acumen, product standards, creating best practices, and providing clients with the insight needed to strengthen their businesses. She pointed out that it would place emphasis on building client competencies in several essential areas.
“MANUFEST will assist in giving entrepreneurs an advantageous edge focusing on education, development, growth and export potential, and stimulate broader national-level discussion on the issues affecting the growth and development of the sector.
“And in doing so, by positioning entrepreneurs to change the way they do business – be flexible, responsive and embrace the opportunities as they come – we can reignite a struggling economy, one small business at a time,” Ms. Forde suggested.
General Manager of the BTFL, Jerry Amos, underscored the importance of micro businesses, saying they have a significant impact on the economy. He told the audience: “We have evolved to recognise that supporting and ensuring the sustainability and development of entrepreneurs in a direct and hands-on manner is what will determine the survival of small businesses in Barbados.”
Mr. Amos disclosed that manufacturers and entrepreneurs had expressed great interest in the initiative. He pointed out that 100 clients had been chosen for the first cohort, and then 10 spaces were offered to the public to participate; however, BTFL received more than 50 applications within two days of its announcement.
The General Manager said the BTFL was promoting its clients at almost every event, joining with partners whenever the opportunity arose.
“We have started discussions that are going very well with persons from GAIA (Grantley Adams International Airport). If successful, [you] will see our clients’ products showcased in the departure lounge at our airport. We are seeking to have similar engagement with officials at the seaport as well,” he stated.
Entrepreneurs involved in Health and Beauty, Condiments and Consumables, and Wines, Spirits and Beverages are participating in the new programme. The next cohort of MANUFEST will be in March 2023.