St. Lucia Simply Beautiful

In order to address the interrelationships of Knowledge, Innovation, Quality Standards, Productivity and Competitiveness and Sustainable Economic Growth, the CCfC mounted its first Regional Competitiveness Forum last month at the Hyatt Regency in Port of Spain with a varied and exciting programme. The theme of the Forum was “A Solutions Agenda to Key Competitiveness Challenges”. The expectation of the Forum was that the glow of the flames of several candles that were lit would brighten the path on the journey to sustainable development.

Dr. Grenville Phillips has just published his book “Venture Capital and SME Financing in less developed Countries and Small Island States”. I have had the privilege of working with Grenville over the last 12 years in the field of Enterprise Development and indeed he devotes a chapter entitled “A public/private sector initiative” to the intricacies in structuring the Caribbean Business Enterprise Trust Inc. (CBET) an initiative with which I am intimately involved.

It was a wonderful week of bonding, amidst pockets of email management and many work assignments. I returned early on Sunday morning fully refreshed and energised to face the on-going task of business consulting. We reflected on and breathed into a state of all-encompassing gratitude. As long as we have breath, we have life. As long as we have life, we are grateful.

The Barbados Entrepreneurship Foundation planted the seed at its first Entrepreneurship SUMMIT in November 2010 which was heralded by glitz and glamour as the BEF launched its fundamental and distinctive vision (its DNA) for Barbados to be “The #1 Entrepreneurial Hub In The World by 2020”.

Economic growth can only take place “one successful enterprise after another”. These enterprises may either be existing enterprises or start-up enterprises. The survival and growth of existing enterprises and the emergence and growth of start-up enterprises must embrace the transition from innovation, through productivity, standards of quality to competitiveness.

I was very pleased to accept BIBA’s invitation to make a presentation on: “Entrepreneurship – A Way Forward for Sustainable Development”. CBET focuses on start-up businesses which are part of the emerging private sector. I pointed out that I developed a passion for enterprise development over the last 14 years but first thought that I should address the definitions of Sustainable Development and Entrepreneurship.

When I was working on the “Compelling Case” document to do with re-organising the Barbados development agencies, I produced a proposal for the establishment in Barbados of The International Centre for Research, Development and Distribution of Digital Solutions for Island Communities. Underpinning this Institution would be a strong university faculty of software engineering, the absolutely vital skill required for the digital age industries. I scoped it out, put a cost on it and approached a philanthropist for the funds to get it going. He said ‘yes. No problem’. And that is where it all ended.

The resolution of this high failure rate is very important as we take stock of the future. Therefore, special attention must be given to innovative business management solutions as well as innovative financial solutions preferably, in my opinion, with a venture capital focus.

We need Harmony in mind, body and spirit and we need a business management systems approach if we are to achieve the objective of sustainable success. There are five business systems that must be well managed:

Toon Boom believes that the success which they have had in developing the animation industry in India will be repeated in the Caribbean. Using the skills developed in these and other Caribbean studios, this highly networked industry will enable the Caribbean animation industry to leverage the global footprint provided by major animation studios who wish to outsource their work to skilled and talented production houses.