My mission was to set up, as a pioneer in the Caribbean, my own management consultancy practice SINCOS Consultants Limited in Barbados, but serving the Caribbean. SINCOS is an acronym for Statistical, Information and Computing Systems and was later to become Systems Caribbean Limited (SCL). Why did I make this change? Because I wanted out of the sheltered environment and closer to the real world.
Another observation is that access to quick response investment capital is the biggest single constraint to enterprise development, even though Trinidad and Tobago is blessed with one of the strongest financial sectors in the Caribbean.
There is need for a single national quick response seed/equity fund which can be painlessly, prolifically and profitably funded by the private sector, with incentives from government, to the benefit of all.
The Caribbean has the potential to be a unique attractive region of the world not only for its residents but also as a tourist destination and an investment haven for diverse legal business activities. Yet, there is growing evidence that there is a challenge in realising this full potential. Only this last week it was brought to my attention that the Trinidad Express Newspapers published an article on June 18, 2013 by Dr. Rolph Balgobin, an Independent Senator in the Trinidadian Parliament, entitled “The Gathering Storm”. The article concluded that “there is something dangerous rising in our midst that demands our attention. If we do not act now to address the threat, it will soon confront us”.
We must be innovative in accessing the money that is available not only from Foreign Direct Investment and Diaspora sources but we must also unleash the sources of funds in the private sector for use in the development of the country for everybody to benefit. If Barbados wins we all win!