Entrepreneur Corner

entrepreneurshipBarbados continues to grapple with the challenge to sustain its cost of living in harsh economic times. One avenue which is a historical fact is the significant contribution which Small Medium Enterprises (SMEs) contribute to economies, especially those which are successful. BU hopes bloggers will post submissions, ideas, feedback about how we can fan the flame of entrepreneurship to the Entrepreneur Corner.

Thanks to Moneybrain for this idea.

92 Comments on “Entrepreneur Corner”

  1. Hal Austin August 5, 2017 at 8:54 AM #

    David,
    The HDI is self-reporting, it is not an objective metric. It is the same as claiming that Barbados has 9 per cent literacy. We are so desperate to punch above out 166sq ml weight that anyone comparing us to global standing gets us excited. Why is our university not in the global 5000? And why do Mona, St Augustine and Cave Hill score differently in global university rankings?

    Like

  2. Hal Austin August 5, 2017 at 9:00 AM #

    98 per cent

    Like

  3. Vincent Haynes August 5, 2017 at 9:17 AM #

    The HDI is self-reporting, it is not an objective metric.
    …………………………………………………………………………………..

    …….it was objective enough for the agencies in Washington to refuse grant funds based on our developed country status.

    Like

  4. Money Brain, August 5, 2017 at 11:52 AM #

    http://www.youtube.com/watch?v=sElz_P6QsZo

    Friedman on Greed

    Like

  5. David August 12, 2017 at 7:59 AM #

    "…..the amount of funding has grown. Peru now boasts a whopping $100 million fund to promote micro, small and medium-sized enterprises; the Inter-American Development Bank (IDB) loaned $40 million USD toward the fund, with the Peruvian Ministry of Finance putting in $60 million USD. Even more, The World Bank approved a $45 million USD loan earlier this year for the development of science, technology, and innovation in Peru…"

    So what was the turning point for the ecosystem? Most notably, the government began to invest in innovation. Ministry of Production initiative Startup Peru was launched in 2012, with an objective to promote the emergence of Peruvian startups and innovative products. Just this year, 837 projects applied for seed capital from Startup Peru — of those, 106 ventures were chosen to receive the equivalent of $5,000, $46,000 and $153,000 USD in funding.

    There’s also Innovate Peru, which the Ministry of Innovation launched in 2014. Its goal is to strengthen companies, entrepreneurs and support systems within the Peruvian ecosystem, and facilitate collaboration between them through dozens of specific funds — such as offering money for scientific equipment at institutions, or high-impact projects for the Peruvian economy, society or environment.

    And over the years, the amount of funding has grown. Peru now boasts a whopping $100 million fund to promote micro, small and medium-sized enterprises; the Inter-American Development Bank (IDB) loaned $40 million USD toward the fund, with the Peruvian Ministry of Finance putting in $60 million USD. Even more, The World Bank approved a $45 million USD loan earlier this year for the development of science, technology, and innovation in Peru.

    Additionally, Lima is currently working with the MIT Regional Entrepreneurship Acceleration Program — a two-year initiative that works with local government, academia, investors, entrepreneurs and corporations to develop an actionable framework for strengthening innovative and entrepreneurial ecosystems.

    Other notable players in the ecosystem include Universidad del Pacifico, where much of the tech talent arises, Peru’s first accelerator Wayra, accelerator Endeavour Peru, as well as 10 other accelerators and incubators in the community.

    https://techcrunch.com/2017/08/10/peru-is-on-a-bid-to-catch-up-with-its-innovative-latin-american-neighbors/

    Like

  6. Money Brain, August 12, 2017 at 8:38 AM #

    David,
    We need a Govt that understands how to manage and encourage Development and Growth. It starts with the correct environment in terms of Attitude, Work Ethic, Education—Excellence must be our mantra. This is why the easy peasy Corruption environment must die because it filters down to too high a proportion of the populace and then few want to work, take risk / invest time, money, energy etc.

    We must insist on a non-partisan approach to solving the future or not the future may not be too bright.

    Like

  7. David August 12, 2017 at 9:06 AM #

    @Money Brain

    Nurturing the entrepreneurial culture in Barbados will be difficult given where we have come from i.e. wholesale retail way of doing business. Our school structure is primarily based on a traditional approach etc etc etc. We have our work cutout although it is not impossible. We should have used the economic crisis of the last 7 years a lot better to force transformation.

    Like

  8. Money Brain, August 12, 2017 at 10:33 AM #

    David,
    Exactly, it has to be thoroughly thought out but it is very broad Economic Planning and ACTION. Not just BS discussion for the sake of talk. Bim is worth saving but proper Comprehensive planning, strategic direction and Action must be conducted immediately.
    Education wise Bajans should learn from Canada’s mistakes of over emphasising Uni, instead of what makes sense for the individual and Nation’s needs.

    Canada has an oversupply of Uni Grads with bogus degrees, who are unemployed whereas there is a dearth of Plumbers who make $ hundreds of thousands per year. Prestige does not get you pass the checkout counter legally. Fully 25% of Uni grads go on to Technical College having wasted the People’s $$$$$$ learning garbage—so instead of 4 yrs they spend 6-7 yrs in order to start making a living.—WASTE.

    How can UWI not produce enough Accountants for Bim’s needs ? Ridiculous!

    Like

  9. Vincent Haynes August 12, 2017 at 1:23 PM #

    We have some of the best sillica sands at Springfield Sand Mine St.Joseph.

    Like

  10. Vincent Haynes August 12, 2017 at 1:26 PM #

    Our UWI could be looking at wind&solar energy,self powered cars,etc,etc

    Go students!
    Dutch Students Design Biodegradable Electric Car
    Students in the Netherlands have built a biodegradable electric car that …
    ecowatch.com

    Like

  11. Vincent Haynes August 12, 2017 at 1:28 PM #

    Legalise ganja and start growing it.

    He knows a business opportunity when he sees it.
    This former minister expects to make $22 million next year selling marijuana
    He smoked pot in high school, but that was a long time ago.
    cnbc.com|By CNBC
    http://cnb.cx/2hLklvk

    Like

  12. David August 12, 2017 at 1:33 PM #

    @Vincent

    Do you know if the UWI, Cave Hill has done anything with the land at Dukes that was donated by the Edghills?

    Like

  13. Vincent Haynes August 12, 2017 at 1:37 PM #

    David&MB

    My point with the above examples of doable and achievable projects for Bim was to show that all is required is the will to do it.

    …presently a youngster does exquisite glass figurines using that sand

    ….why cannot Headley’s energy at UWI be replicated

    …..We have a number boys inside and out of Dodds who are self taught in the production of this herb…….we have loads of land under cow itch and mossie that needs a cash crop which can be rotated with sugar cane.

    I agree with MB that the theoretical focus of UWI needs to undergo a dramatic change and not to creating auditors as that was originally for BIMAP and the Community college.

    Like

  14. Vincent Haynes August 12, 2017 at 1:50 PM #

    David

    Not a word about that land at Dukes……..who knows these former plantation lands like the ones at Dodds maybe awaiting approval for use as agricultural lands……with this govt all things are possible.

    Like

  15. David August 12, 2017 at 2:17 PM #

    Hopefully it will not go the way of the solar research started by the late Oliver Headley.

    Like

  16. David August 27, 2017 at 5:46 AM #

    Of course the challenge in Barbados is that startups are stigmatized and there is limited opportunity for venture capital.

    Job Creation Is Done By Startups: Wolfgang Will, Senior Director, South Asia, Lufthansa Group

    Entrepreneurship is the driving force of the Indian economy. We at Lufthansa feel privileged to be at the heart of this nationwide movement celebrating entrepreneurship, says Will

    http://businessworld.in/article/Job-Creation-Is-Done-By-Startups-Wolfgang-Will-Senior-Director-South-Asia-Lufthansa-Group/26-08-2017-124847/

    Like

  17. David November 26, 2017 at 12:21 PM #

    Like

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