St. Lucia Simply Beautiful

December 6, 2016   HARRIS AT LARGE!   THIS IS THE SEASON TO BE MERRY – RETAILERS ARE SMILING!!!  The month of December should really be designated SMALL BUSINESS MONTH. This is the time of year that Micro, Small and Medium Enterprise Operators are all excited about the business prospects as sales are expected to […]

December 28, 2016   HARRIS AT LARGE!   THE URGENCIES OF 2017! To my readers everywhere, especially those of the Caribbean Diaspora, it is my hope that you spent a  most enjoyable festive season and that you are ready to face whatever challenge/s that may come your way in 2017. With just 3 days to […]

November 29, 2016   HARRIS AT LARGE!   BUSINESS MONTH IN ST LUCIA ENDS ON A HIGH NOTE!!!   Several announcements during the month of November have energised the people of St. Lucia and gave them hope for a bright future with many projects in the pipe line and others currently in execution stage. Many […]

  November 20th, 2016 There is never a dull moment in the isles of the Caribbean, of which St. Lucia is chief. St. Lucia continues to lead in the Less Developed States under the banner of the OECS. The Bible speaks to this fact – that a little child shall lead them. St. Lucia is […]

November 18th 2016 Vieux Fort, Saint Lucia I am humbled by the opportunity afforded me to be a member of the team of contributors to the New York Edition of the – GUYANA CHRONICLE newspaper. I am Guyanese by birth, and I left Guyana at the age of 35 and found a home away from […]

It is obviously not an easy task because we are faced with the statistic that only 10 percent of start-up businesses live beyond the first five years of operation. This statistic is a global average. Our challenge is to increase the chances of success of these start-up businesses. How do we do this? What can we learn from the structure of the human body which gives rise to the successful global average statistic pertaining to the human body which is that 95.4 percent of human beings survive the first five years of life. Can we map this onto the business structure?

The increase in operational efficiency relates to standards, quality and competitiveness of the factors of production (land, labour, capital and entrepreneurship). It should be noted that success of a business is measured by the growth in profitability and not only by the growth in sales. The indirect costs of the business, all costs that are not direct costs (materials and labour), need to be diligently monitored and contained.

What is productivity? Productivity is a measure of efficiency and may be applied to any factor of production. Factors of production are the inputs that are used in the creation of goods or services to ultimately effect sustainable growth. These factors may include physical, natural, financial, spiritual, cultural, intellectual, entrepreneurship and human capital. The last five of these relate to people and we may argue that people are our greatest asset and we must develop them to the fullest thus achieving the best output we can from these resources.

The success of entrepreneurs is measured in terms of sustained profitability. A necessary condition for profitability growth is sales growth and therefore, in any business it behooves us to focus on sales as a priority. We should also note that sales growth does not guarantee profitability, since there are other factors involved such as productivity, quality, competitiveness and cost containment. Sales growth is therefore not sufficient for profitability growth.

Successfully coordinating all these meetings requires much discipline but my experience is that the benefits of a well lubricated and disciplined company redounds to the benefit of the employees, managers and owners of the business and brings happiness to all and sustainable success to the company and by extension the country.