Home' Trinidad and Tobago Guardian : June 13th 2013 Contents Barbados economy to recover and grow and would
suggest that with the right macroeconomic polices Bar-
bados can support the existing exchange rate. However,
we must remember that the performance of the economy
depends on our skill in managing the internal business
environment and on our response to the vagaries of the
external economic environment.
The following quote from Norman Vincent Peale, the
author of The Power of Positive Thinking, is relevant:
"Action is a great restorer and builder of confidence.
Inaction is not only the result, but the cause, of fear.
Perhaps the action you take will be successful; perhaps
different action or adjustments will have to follow. But
any action is better than no action at all."
The Finance and Economic Minister suggested that
Barbadians must be prepared to expand their businesses
since "we can t make our best living feeding off of each
other. We need to sell our services, goods to the world."
High performance enterprises
When the late David Thompson, Prime Minister and
Minister of Finance of Barbados, presented the financial
statement and budgetary proposals on July 7, 2008, he
stated that "to achieve sustainable economic growth,
there must be a national focus on developing a family
of successful high performance enterprises, one enterprise
The action required to build confidence must be
grounded in enterprise development, productivity and
global competitiveness. The ingredients of enterprise
development are creativity, innovation, entrepreneurship
and shepherding. Productivity and global competitiveness
are nurtured by positive thinking.
These issues were addressed in a session on Business
Models at the Business Showcase mounted by the Arthur
Lok Jack Graduate School of Business held last week at
the Hyatt Regency Trinidad hotel There were presentations
from IBIS (T&T), BizBooster (T&T), Branston Centre
for Entrepreneurship (Jamaica) and CBET Shepherding
Model (St Lucia and Barbados).
The objectives of the National Incubator Business
Information System (launched in 2011) are to enhance
economic development in communities and also to
encourage the establishment of competitive and innovative
micro and small enterprises (MSEs) throughout the
country. IBIS offers solutions to the problems typically
faced by MSEs such as unaffordable work spaces, infor-
mation deficiencies, inadequate financing and manage-
The Lok Jack GSB BizBooster programme (launched
in 2012) is primarily an SME growth centre and com-
mercial business incubator. The BizBooster is a collab-
orative relationship among private enterprise, academia
and government, aimed at providing innovative startups
and existing companies with a wide range of services,
financial and non-financial resources for growth, success
The Branson Centre of Entrepreneurship Caribbean
(launched in 2011) was opened in Montego Bay Jamaica
by Sir Richard Branson. The centre is a hub for aspiring
entrepreneurs. The mission is to offer practical business
skills, access to coaches to offer guidance, mentors to
share their experiences, professional services to build
strong businesses, exposure to networks, finance and
The owner of the intellectual property associated with
the CBET Shepherding Model(tm) (launched in Barbados
in 2009) is Caribbean Business Enterprise Trust Inc
legally domiciled in St Lucia. The model consists of
The first is the enterprise selection process which
delineates how to select enterprises which can rapidly
grow the economy.
The second is the Shepherding process which delineates
how to address the endemic high global failure rate of
The third is how to get timely access to finance and
on the establishment and management of investment
funds primarily by giving government incentives to the
private sector to capitalise these funds.
These visions have been independently created we
now need the collaborative action to build confidence
in the future of the Caribbean.
Dr Basil Springer GCM is change-engine consultant,
Caribbean Business Enterprise Trust Inc, CBET.
Three weeks ago a friend of
mine from school days and I
were reflecting on recent
changes in our personal lives.
He wrote, "If you remember many years
ago you introduced me to The Power of Positive
Thinking ...It does work."
I agreed and told him that to this day, I
follow and attempt to practise positive thinking
There was a report in the press last week
with the opening sentence: "The Barbados
government has described as malicious and
unfounded reports that the island has held
talks with the International Monetary Fund
This was followed by an immediate reported
statement from the Finance and Economic
Affairs Minister that Barbados would not be
devaluing its local currency and there will be
no IMF programme; not now, not June, not
this year, and if we act as we are supposed to
act, not in the foreseeable future. He did add
that if we do not anchor our macroeconomic
policy response around the foreign exchange
function in this economy, we will run out of
options when the foreign exchange reserves
He continued "We have adequate levels of
reserves even despite of the fall-off in the
economy; we are still on the field of play and
have a definite chance of winning."
These statements by the minister exude
confidence about the current potential of the
Action builds confidence
BG28 | COMMENTARY
BUSINESS GUARDIAN www.guardian.co.tt JUNE 2013 • WEEK TWO
Arthur Lok Jack GSB
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