BIG BUSINESS MUST GIVE LEADERSHIP TO SMALL BUSINESS!
November 22, 2007
Edward Harris At Large!
BIG BUSINESS MUST GIVE LEADERSHIP TO SMALL BUSINESS!
I am convinced that Big Business must give leadership and inspire Small Business. Successful Entrepreneurs must spend time with small businesspersons in a mentoring relationship. It is about getting into the right mind set and further to challenge yourself to be just as successful as your mentor.
While attending the 3rd Annual Caribbean Unity Trade Fair in San Fernando, the industrial Capital of Trinidad and Tobago, the organizers included in their programme of activities, a Dinner Business Meeting. This meeting was attended by owners of small, medium and large businesses. It was a learning opportunity. His Worship, the Mayor of San Fernando, Alderman Kenneth Ferguson was the Guest Speaker. Mr. Kenneth Ferguson is a very successful Entrepreneur who grew his company which specializes in Plant/Platform Operation & Maintenance from 10 to 450 employees in ten years. He gave many examples of divine intervention and exhorted his audience to put God first in their businesses.
One of the Entrepreneurs at the meeting was involved in many businesses including Construction, Real Estate Development, Super Market, Lawn Care, among others. Though they were all successful, he saw the need to consolidate and continue to be involved in only two of the several businesses he was involved with. The two businesses selected for future involvement are Lawn Care and Real Estate Development.
While the issue of availability of labour did not come up at the meeting, every discussion I held with Entrepreneurs, the subject of labour came up. Very soon it appears as though Trinidad and Tobago will have to remove work permit restrictions and open up the country to workers from the region and beyond. The labour market is contracting while the economy is expanding and as a result there is the need for an expanded work force. The work ethic in T & T in most industries is outright non productive. Very soon it will be more attractive for Caricom Nationals to go to T & T instead of the USA, Canada and England where until now are the destinations of choice. However, very soon a workers’ paradise will be found in T & T.
The just concluded elections gave the Manning Government another term in office with an increase of one in Parliament. Immediately after elections, the newly elected members on the Government side went into retreat. This was necessary as many of the Ministers were new kids on the block and a period of orientation was needed. Many people were still celebrating the PNM victory and for a moment it seemed that all of Trinidad and Tobago was united behind their Government. The third party led by a former Finance Minister of the UNC failed to gain a seat, in spite of its gaining a substantial number of votes. It seemed that when crunch time came, the majority of voters stuck to their old ways and voted for Manning and Panday.
What I was hearing in Trinidad was not so much discussion about politics, it was about business expansion. Opportunities abound in T & T. Labour is at a premium. There should be good business for Employment Agencies. What does all this mean to the Entrepreneurs of the Region? There is no better time to invest cross border in the CSM than now. Whether you are in manufacturing or services, don’t export, establish! Take some of your skilled personnel with you and invoke your right of establishment. There is money to be made in Trinidad and Tobago. Leverage your experiences and get into joint ventures. Your knowledge of the industry you are engaged in can get you established in T & T without substantial investment on your part through the joint venture route. If you feel confident enough, go ahead and get a piece of the pie.
The price of oil is expected to level off at US$100.00 per barrel. As a result cost of living will rise substantially throughout the region, it will take increased level of income at all levels of our existence. Demand for increased wages will be the story of 2008. With cost of living rising, sales of certain products are likely to decline as consumers apply restraint in how they spend their money. The obvious decision is to expand into markets where the economy is booming and consumers are spending freely. I now know for a fact that the Trinidadians are coming. What are we waiting for?
Skills Training should be a priority at this time as we seek to satisfy our regional labour market and reduce unemployment. Entrepreneurial skills can aid the process. Salesmanship should be thought in schools. I was introduced to a number of MLM opportunities during my brief stay in Trinidad. One of the busiest booths was the 4Life MLMers booth. They were smiling all the time and doing lots of business. Check out what was keeping the men and women in that booth smiling at http://www.4life.com
I am happy for the experience gained in T & T and it reinforces many of the positions I have taken in this column. Don’t be afraid to venture outside of your comfort zone. If you have an idea, check it out and if you are confident that there is a demand for your idea, move to the next level and implement it.
Keep the Faith, God is in Charge, Dream Big, and Expect Miracles in 2007!
Edward A. Harris
Email: eaharrisdestiny@gmail.com
Websites: http://www.stluciasimplybeautiful.com http://www.stluciarealtors.com