At Tan Bun Skrati artisanal chocolate is made from tree to bar. The hands doing the harvesting are the same as those that do the fermenting, drying and all other steps in chocolate making up to the packing and shipping of the bars.
Building business, transforming lives for a resilient Caribbean.
Pedro Plains Jerk Products
Our Story started in the “bread basket†of Pedro Plains, St. Elizabeth, Jamaica. The mountainous landscape overlooking the radiant coastal waters, envelopes these beautiful plains. This is the canvas on which the local farmers plant and reap the finest ingredients, carefully captured in each and every bottle of our products. You will taste our “field to fork†philosophy in the meals you enjoy with Pedro Plains Jamaica Jerk. We are very proud to work alongside these amazing, hard working stewards of this fertile stretch. We pay close attention to this farming community; it’s development, sustainability and deep-rooted family values. It’s time to enjoy what we refer to as “A Little Taste of Homeâ€â€¦
Winfresh Products
From the start, we’ve been champions of Caribbean produce and the people who grow it.
We are the only organisation in the Caribbean to work directly with farmers on all the Windward Islands, purchasing and processing their produce to sell on the world stage.
Over the last 55 years we’ve helped farmers become more prosperous by encouraging them to embrace modern agricultural methods, as well as growing and developing our own businesses.
Designs by Nadia, a jewelry business that grew into a café, AirBnB and an art emporium
Necessity, it’s said to be the mother of invention, and when financial constraints necessitated that Nadia Jabour make, rather than purchase jewelry and accessories for her daughters, little did she know her inventions would lead to a fledgling business and living her dream.
Originally from Guyana, Jabour, after living in Canada for 25 years, returned to Guyana in 1994 and then settled in Saint Lucia in 2009, where she turned her jewelry-making hobby into a home business.
I had a day job and worked on jewelry at night and on the weekends, she said. But business started to pick up faster than I imagined, and I knew I either had to quit my day job, or scale back on jewelry making.
Jabour chose jewelry, giving herself one year to turn her part-time home business into a full-time success.
The strides made during that year were remarkable, and while Nadia’s laser focus, stellar work ethic and determination were at the root of the tremendous gains made, she states emphatically that her motivation was fueled by a network of people who saw her potential and threw their support behind her.
It wasn’t just friends who came by to buy my jewelry. They also supported me by telling other people about my pieces and bringing them to my home, Jabour shared. And these were new friends that I had acquired, because I didn’t know anyone in Saint Lucia when I moved here.
This belief that Jabour was onto something special extended even to her landlord, who saw Nadia’s passion and chipped in to help her along the path to success.
I shared my plans with him and he was phenomenal, she said. He said to me you don’t worry, I think this will work. So he gave me rent free for one year. I paid him back in the years that followed, but he allowed me that time to build my business.
Eager to ensure other local artisans could share in her success, Nadia started the Caribbean Network Development group, giving them greater bargaining power with hoteliers, government and other tourism stakeholders, which in turn gave their products greater visibility.
A small store in the Rodney Bay area followed, but in three short months, they outgrew the space.
And that’s how Island Mix came to be, Jabour said of the waterfront property she acquired. My jewelry is in there, and we have over 80 artisans now.
The property also hosts a cafe, an Air BnB, a restaurant and pottery, art and jewelry classes.
A sign outside, with the simple question, have you seen the view from our cafe beckons visitors inside, but once there, excellent service; quality, locally made products and the ambiance keep them coming back.
Island Mix Art Emporium is rated on Trip Advisor as the number one thing to do in Rodney Bay, Saint Lucia.
So, what’s next for Designs by Nadia and the Island Mix Art Emporium? Jabour is currently focused on expanding the AirBnB and is pursuing more meaningful export opportunities for her jewelry line.
Once I post something on my [social media] page, it’s usually sold right away within the Caribbean or the US and Canada. But what I am now working on is finding a wholesaler to buy my product in the UK, and on building a Shopify website to facilitate international orders.
Jabour is working toward achieving these goals with support from Women Empowered Through Export, a programme designed by the Caribbean Export Development Agency, to support Caribbean women to start exporting, or increase the export of their products and services.
Nadia found the mentorship and training offered through the programme to be invaluable and advises that it’s a great resource for Regional entrepreneurs seeking expansion beyond Caribbean shores.
She also shared this nugget for those who have a dream they long to make a reality.
Do your research, she said. Know your product and its market value. Once you do, the most important thing is to believe in it, she said. You MUST believe in what you are doing.
Meet Designs by Nadia at the We-Xport booth at Bmex in June 2019.
Find out more about Nadia Jabour and her entrepreneurial ventures on Facebook and Instagram.
Belize’s unmatched value proposition for business process outsourcing
AS A CENTRAL AMERICAN COUNTRY with an intrinsic Caribbean identity, Belize offers a truly unique solution for business process outsourcing.
On the eastern coast of Mexico and Guatemala, it is the only English-speaking country on the Yucatan Peninsula, and its social and political identity has mirrored that of its more-distant neighbours in the Caribbean archipelago.
Like many of the Antilles, Belize has invested heavily in social development, and it has created a highly-educated workforce that sees an annual growth of approximately 8,000 new graduates each year. And with a median age of 21, the country ’s young labour market now supports over 4,000 in-demand contact centre jobs in its fast-growth BPO sector.
Belize’s continental position also has its benefits. While inflationary pressures and costs of imports have driven up the price of doing business in many states, Belize enjoys a relatively low cost of living. Its local BPOs retain staff on an average (but competitive) wage of US$3-7 per hour, and salaries for outsourced roles are up to 60-80% less than those for similar jobs in the US.
What’s more, Belize’s BPO sector enjoys a marginal staff attrition rate of only 5%, and its mostly bilingual population also caters to the Hispanic market segments of its outsourcing clients.
Belize’s value proposition among outsourcing destinations is so unique that the government there has identified it as a priority sector for its economy. And with a progressive wave in the United States pushing for ambitious minimum wage targets, Belize will continue to be among the leading choices for American companies looking to preserve their profit margins. Its “near-shore” proximity to the US also eliminates the costly domestic night-shifts typical for companies that employ South Asian BPOs, and Belize’s highly connected air-routes make quick and cost-effective travel a reality for US clients.
Beyond the innate convenience of Belize as a BPO destination, clients can be assured that the country’s outsourcing sector is mature and competent. Protel BPO, one of the country’s leading outsourcing firms, has differentiated itself by offering solutions that seamlessly align with clients’ brand identities and service standards.
In business since 2013, Protel provides inbound and outbound customer services, sales and lead generation, appointment services and email/chat support. On the service end, its employees undergo rigorous on-boarding training, have neutral accents, and regularly interface with clients in twice-monthly review meetings to track progress on performance indicators.
At a time when data security is increasingly coming under regulatory scrutiny, Protel is also PCI certified to maintain the integrity of client information shared offshore. This goes hand in hand with Protel’s mission, which sets up the company as an extension of its clients’ businesses; and as partners with a shared vision. To this end, Protel offers tailored solutions to meet its clients’ needs, and as a locally-owned company, it can offer the most competitive rates for outsourcing services. Its clients generally see 30% savings over Central and South American call centres, 50% savings over their internal call centre operations, and as much as 70% in savings compared to third-party US-based call centres.
Belize, along with other destinations in the Caribbean are near-shore BPO options, with a cultural mix, offering English, Spanish, French or Dutch as primary languages. Their affordability and international service standards make the Caribbean a true rising star in the Global outsourcing space.
For more information on outsourcing to the Caribbean, and to register for Caribbean Export’s Outsource to the Caribbean Conference, please visit https://outsource2caribbean.org/. The Outsource to the Caribbean event takes place from May 6-10, 2019 in Curaçao.
This article was originally published on the Outsource to the Caribbean website .
A simple Trinidadian family recipe turns into a successful business primed for entering the global market
Habanero Pepper Sauce Company Limited is a small family owned business operating out of Claxton Bay, Trinidad under the leadership of Sharon Chautilal.
Sharon worked in an equipment company for eighteen (18) years as the Administrative Manager before leaving the corporate world to pursue her passion as well as life balance through flexible hours that can allow for more quality time with family and other personal interests.
Her family always had a little rum shop in Claxton Bay Village that sold appetizers with a home-made pepper sauce that her mother made, which became a favourite condiment. the favorite condiment always being the home-made pepper sauce that her mother made. During this time, Sharon has fond memories of helping her mother in making the pepper sauce. “My mom would go to the market and individually handpick select the best peppers. She would then make a small batch of pepper sauce with freshly prepared ingredients resulting in a flavor that was always on point. It was also something that she loved doing and I truly believe that she channeled her positive energy and love into the product as with everything else that she put her energies in.
The growing demand from customers, their friends and their family whom they had shared the pepper sauce with could not be ignored. With her mother’s blessing and a promise to always be true to the recipe and the quality, Sharon set out on her journey of making Habanero Trinidad Pepper Sauce, the first traditionally made pepper sauce to enter the market.
Sharon took some time away from Trinidad to develop her business plan, drawing inspiration from great companies such as John Deere, Honda, Yanmar and others such as Heinz, Tabasco, Coca Cola, Cadbury, Levi, etc. that she always admired. “I read business books from people I admired, Richard Branson, Sam Waltons of Walmart and Elon Musk. I saw no reason why a bottle of pepper sauce could not be marketed the same way, for example, as the best bottle of perfume in the world. As long as you remained true to quality, the sky is the limit.
With the help of an advertising firm, Silverpin Design Concepts, who understood her vision of wanting to add flavour to life in every way possible, they set out together to design a simple but effective label that would showcase the main star of the show, the pepper sauce. The consumer had to be drawn to the product itself and come up with their own relationship with the pepper sauce. She did not want a distraction such as a mascot, cartoon or anything too artistic to take the attention away from the sauce itself. In Sharon’s words “we are going to revolutionize the pepper sauce industry and build a strong brand.
At the time, there was no premium pepper sauce in the local market. “We were the first to introduce gift editions. It was the perfectly packaged gift to give to employees, visitors, friends and families for Christmas. Since then, we have tried to have something innovative each year as customers are excited to see what we come up with.
This journey also led her to develop a strong supply chain by working with Farmers in developing good agricultural practices to consistently harvest first grade peppers for the best quality pepper sauces.
Thus, remaining true to her promise. The peppers are still hand selected and sorted, sun- ripened and only fresh ingredients are used. “We absolutely do not use any coloring, artificial preservatives such as sodium benzoate, artificial flavours or thickeners. We make small batches and maintain a good positive energy while we work, always conscious of the end user. It’s all garden fresh and they have remained true also to the company’s mission statement of Adding Flavour to Life!
After six years in business, and the many challenges including a downturn in the economy and financial constraints, Sharon has remained focused on her dream of making the best tasting pepper sauces possible and marketing them internationally. She has taken some baby steps in achieving this already as the products are available on the company’s e-commerce website and orders have been shipped all over the world, including the USA, South America, Europe, Africa, Australia and New Zealand.
Her latest achievement has been a collaboration between Habanero Trinidad and the iconic Calypso Rose to launch a Calypso Rose Fire Fire Scorpion Pepper Sauce which was successfully launched for Trinidad and Tobago’s Carnival 2019. Calypso Rose would also be performing at Coachella 2019, one of the biggest Music Festival in the USA where she would be giving away some of the products so who knows where this dream may take her.
She has also been collaborating with a New York Chef Jonathan Scinto, who has appeared on the Food Network series Chopped. Habanero Trinidad is one of the sponsors of Chef Jonathan who is participating in the World Food Championship, the largest food festival in the USA sponsored by Walmart in Dallas this year.
What’s next for Habanero Trinidad
With the assistance of Women Empowered Through Export (WE-Xport) programme, Sharon hopes to fully leverage their expertise and assistance to strengthen her marketing and export strategy in establishing a global presence.
WE-Xport is designed to support Caribbean women in business to start exporting or increase the exports of their products and services.
Sharon’s attitude in life, is you either win or learn. To the other aspiring female entrepreneurs who are letting fear hold them back from pursuing their dreams, she said boldly, Do it scared! Fear is there to make you cautious, not stop you.
Visit the We-Xport booth at Bmex in June 2019 to learn more about Habanero Trinidad.
Find out more about Habanero Trinidad by visiting their website, www.habanerotrinidad.com and follow them on Facebook and Instagram at habanerotrinidad
How a Haitian Designer Turned Her Side Hustle into Major Jewellery Brand
It’s safe to say that Daphnee Karen Floreal, accidentally stumbled into business by doing what she loves.
In 2005, while studying for a Bachelor’s degree in Business Administration, making jewelry was merely a hobby for the Haitian entrepreneur. It was a creative outlet that provided a sometimes much-needed break from academia. Daphne unwittingly became her best advertiser, as the unconventional pieces she crafted for herself captured the attention of friends, fellow students and others. She was initially giving them away but started to sell them below market value to earn pocket money.
Visibility Transformed a Side Hustle into the Main Gig
She dreamt of being a designer, but believed it was impossible to earn a living doing so in Haiti. Two years after she started crafting her pieces however, a breakthrough came with the inaugural Artisanat en Fete, a craft tradeshow that brought greater visibility to the country’s artists and artisans.
“It is one of the events that I think gave me more exposure and helped me gain regular customers,†Floreal said.
Her work was innovative, and as the youngest designer trading at the show, she garnered media attention giving Bijou Lakay the publicity it needed to transform the young designer from a hobbyist, to the CEO and Creative Director of her own company.
Haiti Fashion Week followed, providing another opportunity for Daphnee to showcase her work, this time, bigger, more expressive pieces – literally works of art.
Results-focused Business Strategies Key to Sustainability
As a graduate in Business Administration Daphnee understood that in addition to her creativity, running a successful accessories start-up required business savvy and strategic thinking. She needed to always be on the lookout for opportunities to gain visibility, and capable of producing new, exciting designs and advertising concepts that keep customers interested and attract new ones.
“Positioning is key,†she said. “Photoshoots utilising models have helped to increase sales, because they show potential customers how to wear the pieces.â€
While Daphnee is in the business of art, she reminds other creatives that the key word is ‘business’. She therefore sets targets and produces reports detailing successes and failures of her product lines, allowing her to make the pivots necessary for continued growth like any other corporate entity.
“I studied management, and am now working towards my MBA, so my professional background definitely features in Bijou Lakay’s day-to-day operations, and is integral to its success,†she said.
Social Impact, the Greatest Achievement of all
In 2018, Forbes identified Daphnée as one of ten innovative Haitian entrepreneurs changing the narrative. This and other strategies have enabled Floreal to gain international recognition and Bijou Lakay is now available regionally, in Europe, North America and online.
But as she works to expand Bijou Lakay’s international footprint, Daphnee remains focused on what’s most important, strengthening the brand’s social impact.
“My primary goal is to make a difference in my community,†she said. “We have more than eight artisans who work for us, who, without this work, could not afford to send their children to school.â€
“Whenever I feel discouraged, I think about the artisans, and it’s one of the things that keep me motivated,†she shared.
Fusing Cultures in Bijou Lakay’s Future Plans
A primary goal for 2019 is therefore to increase the number of crafts people working with the company.
“We’re particularly focused on Africa and Latin America,†Floreal said. “We will still be a handmade line from Haiti, but these collaborations will facilitate a fusion of cultures through design, and I think that’s exciting.â€
Visit the We-Xport booth at Bmex in June 2019 to see Bijou Lakay’s unique and exciting jewellery collections.
Follow Bijou Lakay’s progress, catch a glimpse of their pieces and/or make a purchase at: bijoulakayhaiti.com, and @ BijouLakay on Facebook and Instagram.
The fashion start-up poised to take Caribbean style to the world
Vincentian-born, Trinidadian-raised and a citizen of the Caribbean, Kimya Glasgow, the CEO and head designer of her self-named clothing and lifestyle brand, aims to bring a modern version of classic Caribbean style to the world.
Encouraged by her mother’s side of the family to express herself creatively, Kimya convinced her dad that instead of pursuing law as he did, she was destined for a future in fashion.
She studied in Barbados, worked in the British Virgin Islands, qualified for a micro business loan, and with it began the process of bringing her dream to life.
“That’s how I stepped into business, and looking back, I should have been a lot more scared than I was,†she said. “But when you are young, tenacious and driven, you believe you can move mountains.â€
We’re all gifted, and capable of making a difference
Undaunted by numerous mistakes made along the way, Glasgow said a goal-oriented attitude enabled her to learn and grow from them. She credits her primary school teachers with fostering this mindset.
“They encouraged positive thinking from the get go, instilling in us that we have a special place in this world. God has given you gifts, they’d remind us, and you have to figure out how you will use them to positively impact others, even if in a small way,†she said.
Glasgow’s gift is creating beautiful things, and while running a fashion startup is challenging, she feels giving up, would be like burying her talent. Instead, she plans to share it with the world. Her high-quality resort and swim wear pieces are currently delivered to Caribbean-based customers via LIAT Quick Pack or couriered by willing travelers. But she’s focused on building a sustainable production model to enable greater Caribbean presence, and gaining a foothold in the US, UK, EU and Dubai where she has captured the attention of buyers.
“… We have exceptional talent in St. Vincent that often does not go beyond our shores. So I’m working on raising the capital to enable me to partner with local artisans.†she said.
This will enable Glasgow to increase production so that she can fulfil larger orders from overseas buyers.
The takeaway for women in business
Know your worth, she says. Women in business have a great deal to offer their communities and the world. It’s time we diminish unnecessary obstacles on their path to success.
“And when I say that, I’m not talking about just the legal side. It’s the invisible things we do and say every day,†Glasgow said. “Boys are never asked to set aside their entrepreneurial ventures to help mop the floor, or wash the dishes. But if a woman is baking cakes and making a living doing it, it’s seen as a hobby.â€
Instead, she said, with vision, and the appropriate support, some so-called hobbies can be developed into profitable business ventures. Glasgow credits programmes such as Women Empowered through Export (WE-Xport) with creating a space where women can access the mentorship, technical and financial support needed to grow their businesses.
Through the programme, she successfully scaled up her business and is getting export ready.
The 2009 Caribbean Fashion Awards winner has shown at fashion weeks in Miami, Jamaica, Trinidad & Tobago, Barbados, St. Kitts and St. Vincent. Mustique, Bequia, Grenada and New York have also featured her collections. As she gears up for more meaningful export in 2019, the Kimya Glasgow brand is shaping up to be one to watch.
Visit the We-Xport booth at Bmex in June 2019 to view the Kimya Glasgow lifestyle brand.
Follow Glasgow’s fashions online at: www.kimyaglasgow.com and @kimyaglasgowinc on Facebook and Instagram.
Willemsberg, the Surinamese Legacy Proving That Embracing Change is Key to Longevity
This Surinamese company first opened its doors in 1960, and at the time, Willemsberg founder, Leo Willemsberg imported white sugar. But when Suriname started producing its own sugar, Leo needed to find an alternative import, and opted for shelled peanuts.
By 1980, the next generation of Willemsbergs were at the helm of the company, and keen to start a more creative, entrepreneurial venture.
“My brother said why don’t we produce our own peanut butter; so instead of continuing to import peanuts for other peanut butter producers, we started our own factory,†Leo’s daughter, and Willemsberg Managing Director Susan Tjong A Hung shared.
They started with two varieties, first a creamy version, and then crunchy with chunks of peanuts in it. Next came a hot variety with pepper, and finally, diet versions were added.
Today, there are six varieties of Wippy Peanut Butter. The preservative free nut butter consists of 95% peanuts, is sold in over 1,500 shops and supermarkets across Suriname, and has grown to become a trusted, recognisable brand and a huge favourite with the Surinamese people.
How increased competition spurred exports
As more companies across Suriname started producing peanut butter, Wippy’s market share fell from 65 percent to 35. Whilst working on reclaiming five to 10 percent of the market through increased marketing events, such as supermarket tastings and health and wellness campaigns in schools, they have also turned their attention beyond Suriname’s shores to capture more sales.
“We have an excellent distributor,†Susan said. “They are the sole distributors for Coca Cola in Suriname, and they are doing a great job at pushing the Wippy brand.â€
Distributor Fernandes has already taken Wippy into Guyana and is currently working on expanding their presence there.
With assistance from the Women Empowered Through Export (WE-Xport) programme, Willemsberg is now also looking to Europe to boost sales.
WE-Xport provides technical assistance, grant funding and training geared toward preparing women-owned Caribbean businesses for export.
“We had a lot of help from our WE-Xport coach, and this enabled us to export to The Netherlands,†Susan shared. “The coach guided us through the process and researched the documents and other requirements needed to export to and promote our product in Holland.â€
Unable to sell in The Netherlands under the name “Wippy†because of its similarity to internationally-known peanut butter brand “Skippyâ€, the Willemsberg team registered the name “Fosten†– a reference to the traditional way of making peanut butter in Suriname.
With the necessary paperwork done and registration complete, Willemsberg exported their first palettes of over 6,000 jars of Fosten peanut butter to Holland where they are focused on the Surinamese diaspora of approximately 400,000.
Flexibility and teamwork, key to Willemsberg success
The ability to read and respond to market trends has played a crucial role in keeping Willemsberg in business for almost 60 years. But the true credit, says Susan, must be given to her 34 members of staff.
She offered up this nugget for other small business owners.
“Do not be afraid to trust and count on your management team and employees. Give them the opportunity to help, and to express their ideas,†she said. “Invest in your employees, guide, coach and always be honest with them, and you will see that this will reflect positively in your company’s performance.â€
Visit the We-Xport booth at Bmex in June 2019 to learn more about the Wippy brand.
Find out more about the Willemsberg story and Wippy Peanut butter at: www.wippypindakaas.com and on Facebook and Instagram @wippypindakaas.
Your True Shade, the innovative cosmetics line fusing science & nature
Dubbed Jamaica’s first healthy cosmetics line, Your True Shade is committed to producing products that celebrate the diversity of skin tones found throughout the Caribbean and beyond, and are free from the harmful chemicals commonly used in some skincare products.
The brand’s creator, Dianne Plummer, entered the green skincare and clean cosmetics space like many others, out of necessity. While studying sustainable energy and chemical engineering in Sweden and Finland, finding makeup that offered ideal coverage without irritating her sensitive skin and causing eczema flare ups proved to be challenging. So, using her engineering background, Plummer formulated her own skincare and makeup line, using hand-picked, natural ingredients, and in 2015, True Shade Cosmetics Limited was born.
Determined to be a trailblazer in natural skincare in the Caribbean, Dianne focuses heavily on innovation, research and development.
I’m always trying to make everything better, change formulations and tweak things as we go forward, she said. Because innovation has to be at the core of the business.
The same old way of doing things is not a sustainable business model, she said, instead, a revolution is needed. What will separate the outstanding entrepreneur from the average Jane or Joe is the ability to bring something new, never before seen or done, to the market. In an already saturated market, like skincare, one must figure out how to do it differently and be innovative.
By fusing technology, science and nature to deliver a safe, efficacious product, Plummer continues to innovate in her space. She’s successfully changing the narrative surrounding beauty by making it synonymous with health.
Plummer’s products not only conceal and minimise imperfections, the locally-sourced, natural, anti-inflammatory and hydrating herbs, spices and plant extracts used to formulate the line also promote healing and repair. In essence, it’s makeup with skincare benefits.
Your True Shade is also the first Caribbean cosmetics brand to be certified Cruelty Free International in the United Kingdom, and among the brand’s numerous accomplishments are features in European media, including on Richard Branson’s Virgin.com, and selection for the Caribbean Export Development Agency’s Women Empowered Through Export (WE-Xport) programme.
WE-Xport provides mentorship, technical support and funding to women-owned Caribbean businesses to prepare them for export, and to expand their current exports.Â
Your True Shade is in 10 stores across Jamaica, and is currently closing deals to enter three new stores.
We want to dominate locally so persons can access the product in different parishes, Plummer said.
We are also working on building a presence in the Caribbean, Europe and Africa. So, with We-Xport I am learning the tools that are needed to get me into expanding beyond Jamaica, Plummer shared.
In August 2019, Your True Shade will celebrate four years in business, and Plummer shared that she is pleased with its growth, and excited about being able to establish the brand as a global key player.
This growth, and Plummer’s ability to maintain positivity and momentum during what has been an exciting, but challenging entrepreneurial journey are due, to formulating and sticking to a vision for her company.
Every decision made, every person employed, every new product added to the line must be in line with that vision.
Once I formulated my vision and started making decisions in line with it, I saw tremendous growth and cohesion with all my activities, Plummer shared.
So that’s one thing I would like to leave with every single entrepreneur out there. Keep the vision in mind, and tie every single business activity to that vision.
Visit the We-Xport booth at Bmex, in June 2019, to find Your True Shade.
Find out more about True Shade Cosmetics: www.yourtrueshade.com and join their community on Facebook @trueshadecosmetics and Instagram @yourtrueshade.
Shared Services, Shared Benefits
Once outsourcing became a business model, Shared Services centers was a logical and exponential outcome. Such centers are like business supermarkets, delivering key transactional processes and or administrative support under one roof. That results in clients getting to outsource finance and accounting, legal, information technology and even Human Resources in a bargain package that helps them consolidate productivity and reduce costs.
Historically, Shared Services was defined as delivery of processes to a company from a shared model. The sharing in this instance referred to services delivery across business units and a sharing of accountabilities and responsibilities between the shared services organization and its customers. There are different iterations of that model now, but the core definition remains attractive for firms, even as Artificial Intelligence and robotics are changing service delivery.
For the Caribbean, selling Shared Services, either in delivery or accommodation, may now be the region’s best outsourcing product. Some companies with a long history in the region have set up such centers here. Canadian activewear market leader Gildan established theirs in Barbados in 1999; Scotiabank launched its hub in Trinidad and Tobago in 2013. And only months ago, KPMG, one of the top four global professional services firm, opened its Shared Services center in Kingston, Jamaica.
To build marketing momentum and attract other big firms that want value from outsourcing, the Caribbean Export Development Agency will be promoting Shared Services at its second annual Outsource to the Caribbean Conference (OCC2019) in Curaçao May 6th to 10th. The Agency intends to highlight the Caribbean’s service possibilities, especially those beyond voice centers, and why partnerships in this region makes good business sense.
Operation size and space in the Caribbean are affordable, suitable and practical. Shared Services help these locations with economies of scale in real estate and business ready facilities. A company can benefit from Class A office space rental rates per square meter/ month as low as US$2.8 (US$0.26 per square feet) in Haiti, US$11.2 (US$1.04 per ft2) in Suriname and US$11.7 (US$1.08 per ft2) in Jamaica. In other benchmarked BPO markets like India, Philippines, Costa Rica, Colombia and Mexico, rental rates vary between US$12.4 (US$1.15 per ft2) to US$26.7 per square meter (US$2.48 per ft2).
The Caribbean’s diverse and skilled English-speaking workforce makes it an ideal location for most combined back office operations because it offers solid capability. Many Fortune 500 and other multi nationals already have a presence here, which means a center can recruit local talent who have first world business experience.
Shared Services also bring big savings on statutory and social security taxes and benefits like group health. Even better, the Caribbean’s labour costs are more competitive than North America, falling between 88% to 55% lower. Over 70,000 students graduate from higher education every year. The region also has the advantage of speaking several global languages with English, French, Spanish and Dutch spoken fluently.
The region’s proximity to major markets as a gateway between North and South America, and its modern infrastructure means set up and integration is seamless. That proximity, and recent telecom/internet advances in most territories make it easy to support cross border operations with other regional players.
Some other valuable benefits of Shared Services in the Caribbean for foreign firms were recently highlighted in a Smarter with Gartner blog: service reliability, simplification of effort and key insights that help partners improve business performance.
According to the blog, reliability adds value by meeting customer needs at a competitive cost. A reliable vendor allows a client to focus on improving and refining their own processes. “The Caribbean has already proven it’s a reliable business partner,†says Tessa Jacques – President of the Caribbean Association of Investment Promotion Agency’s (CAIPA). “Each country offers incentives that increase the savings to each investor and investment facilitation staff who stand ready to assist in any way.†The region’s territories also boast high functioning institutions, efficient government, and regulatory systems that are conducive to business.
The second benefit, simplifying effort, brings a seamless, positive customer experience for clients who may be expanding or who want their key processes done in a standardized manner and can leverage management expertise and governance across all business support functions.
Insights, often the best driver of business growth, are multiplied in Shared Services precisely because they bring untold value not only in the smart moves they allow companies to make, but also in market mistakes they help companies avoid. Insights from good data analysis offer opportunities to increase revenue, cut cost and improve business performance overall.
OCC2019 comes at a time when Caribbean economies are riding on growth north of the region. As this seems likely to continue for the near future, it will make it easy to sell the concept of Shared Services centers to firms that want partners who will join them in solving their business problems. Others will simply want the ease of setting up their own, as Scotia and KPMG did. “Many of these companies want to know that the local talent is technically capable to support their operations. We can offer that in the Caribbean,†says Tessa Jacques – President of the Caribbean Association of Investment Promotion Agency’s (CAIPA).
This article was originally published on the Outsource to the Caribbean website .
What makes Curaçao a great location for the Outsource to the Caribbean Conference 2019?
One of the Caribbean’s most vibrant and cosmopolitan countries, Curaçao has just the character for OCC 2019 (May 6th – 10th).
The Caribbean Association of Investment Promotion Agencies (CAIPA) and Carib Export will be working with the Curaçao Investment Promotion Agency, fDi-Intelligence (an arm of the Financial Times), and other partners to ensure that it delivers nothing but excellence and rewards to all participants.
Introducing Curaçao
Excellence is already a benchmark of Curaçao. The Dutch-Caribbean country is, with Aruba and Bonaire, one of the ABC islands, and an independent nation in the Netherland kingdom. It has been called a bit of Holland in the middle of the Caribbean. Really, though, it’s more Papiemento – the best of several worlds. Papiemento is one of Curaçaos’ three official languages (after Dutch and English). Like Curaçao’s diverse population, it is a blend of Spanish, Dutch, English, Portuguese, and African. You won’t often, even in the Caribbean, find so many worlds in a single island. The country is, in a word, unique. Progressive: with its underpinnings of freedom in all areas. Quintessentially Caribbean: welcoming weather (heat buffered by trade winds, clean air, with little rain), beaches, and colorful and objectively beautiful old world architecture. Modern: advanced infrastructure, transportation, and an extensive telecommunications network. Magnificent: It has an underwater cave known as the blue room (!) Quirky: iguana soup, anyone?
Not just a holiday spot
Curaçao regularly welcomes vacationers and its natural charms have enticed some to make it their home. But it’s not just a resort island. Its lengthy, services tradition includes pioneering the Offshore Financial Services Sector in the Caribbean as early as the 1920s. This positions the country ahead of the curve when it comes to the growth sector that is Business Process Outsourcing (BPO).
With development on par with, and easy access to markets in, the US and Europe; link-up with Dutch capitals in Europe and the Caribbean; proximity to the US (literally in the same time zone as New York); and the fact that it is tax-and-investment-incentivized; Curaçao is ready to court quality investors.
Well connected
Curaçao’s IT infrastructure has made it a data hub for the region. Daily flights from Europe, the US, Central America, and the Caribbean make it a physical hub. Meanwhile, its authentic attractiveness, modern amenities, while being located in the Caribbean Sea, though not in the hurricane belt (so investors can rest easy there), add to its appeal.
Curaçao has, in its capital Willemstad, one of the world’s largest natural harbors, accessible via a moving bridge called the swinging old lady; making it a center for container ships. A country so used to being at the center of things is well positioned to host an event like OCC 2019 – showcasing that paradisiacal as it is, the Caribbean has much more to offer to a service-driven, IT connected, progressing world, and especially to the world of international business.
This article was originally published on the Outsource to the Caribbean website .
