STIMULATING INTERNATIONAL COMPETITIVENESS 18 th July 2007 Presented by: Annelle Joachim, Vice President Business Development
THE BDC MANDATE Facilitating growth and development of all sizes and types of existing businesses Provide a range of business development services and Create a cadre of vibrant, globally competitive, sustainable businesses
BDC s MISSION To provide a range of quality products and services to enhance the growth and competitiveness of enterprises,, while contributing to the sustainability of the Company
AS AN ENTREPRENEUR, YOU MAY ASK How can I as an entrepreneur take advantage of the opportunities presented? Do I need to free up my cash flow to invest in improvements in other operational areas of the business? Do I need to improve the quality of my existing equipment and machinery to meet the anticipated increase in production? Do I need to acquire new machinery and equipment to meet the anticipated increase in demand for my products?
Does my Company meet required international standards? Does my Company need to acquire certification in key areas to continue to be internationally competitive? Are my internal business processes efficient enough to accept the challenge of the CSME opportunities? Do I need to purchase additional inventory to meet product demands? Do I require market information on the member countries in the CSME? Does my staff need to be trained in key business areas?
KEY BUSINESS AREAS TRADE ASSISTANCE SERVICES LOAN GUARANTEE PROGRAMME CONSULTANCY SERVICES TRAINING SERVICES RESEARCH & DEVELOPMENT FACILITY TRADE PROMOTION TRADE CERTIFICATION MACHINERY AND EQUIPMENT LEASING - CLCL
TRADE ASSISTANCE The Challenge to businesses To become competitive and maintain a superior position. Our Business Solutions Productivity and Efficiency Enhancement Programmes Management Systems Improvement Financial Services-Loan Guarantee Programme smexchange web portal
TRADE ASSISTANCE INITIATIVES - Quality Management Systems, Health and Safety Systems, Environmental Management Systems, Food Safety Management Systems awareness training - Cleaner Production training for food and agro- processors in Trinidad and Tobago in collaboration with CEHI - Business Continuity Awareness - OSHA Training for the Construction Sector in a partnership arrangement
TRADE ASSISTANCE INITIATIVES - The development of an ICT Action Plan for SME development through increased ICT usage. - Development and launch of the smexchange.com which will be available in Spanish within the next 6 weeks. - Benchmarking studies for the printing and packaging and the fish and fish processing sectors.
LOAN GUARANTEE PROGRAMME The Loan Guarantee Programme is a credit support instrument designed to assist start-up or existing businesses in securing loans from financial institutions with the BDC providing the major part of the collateral needs of the borrower. The limit on this programme is TT$500,000.
LOAN GUARANTEE TARGET MARKET Sole proprietorships Partnerships Franchises Co-operatives Limited liability companies Owned and operated by citizens or residents of Trinidad and Tobago and involved in legitimate productive business activity and operated for profit.
BENEFITS OF A LOAN GUARANTEE Improved accessibility to funding Provision of part collateral for the entrepreneur in securing a loan. This would result in an increased cash flow which can be used to assist in other business operations. Partnering with the BDC affords you ease of access to the other Business Support services on offer by the Company.
CONSULTANCY SERVICES The Challenge to Businesses Survival, growth and expansion Our Business Solutions - Systems Analysis and (Re)Design Process and Methods (Re)Engineering Strategic Planning Benchmarking to International Standards Market Research Business Advisory Services Project, Performance Management and Other Support Systems Development
TRAINING SERVICES The Challenge to Businesses Survival, growth and expansion Our training includes such areas as: - Business Leadership - Business Etiquette - Strategic Management - Customer Relations Management
RESEARCH and DEVELOPMENT FACILITY Background A total TT2.25 million facility to be used to strengthen the development of the non- petroleum sector through innovation and investment in R&D with a maximum grant of TT$100,000 per applicant
RESEARCH and DEVELOPMENT FACILITY Eligibility Businesses within the non-oil oil sectors including Services Locally owned and operated Businesses in existence for at least 2 years, with annual sales turnover of between TT$50,000-$5 million Applicants contribute at least 33% of the cost of the project
RESEARCH and DEVELOPMENT FACILITY Areas for funding Improvement to processes Product development Adaptation of appropriate systems and technology Innovation in technology management systems and industrial engineering i.e. product processes, logistics, Good Manufacturing Practices
RESEARCH and DEVELOPMENT FACILITY Benefits New market opportunities Enhancement of competitiveness Development of Human Resource capabilities Improve efficiency Improve profitability
www.smexchange.com An online Business to Business Portal which will provide: A common space where buyers, sellers, and other stakeholders can post and exchange products and intellectual capital in real time, Real business opportunities Quick access to essential business information in an effort to reduce the time and cost of doing business. Networking opportunities for SMEs
www.smexchange.com Boasts of in excess of 400 registered members Membership is from across the region and internationally. A new feature entitled Business Opportunities has been added to the site Will soon be available in Spanish within the next 6 weeks.
TRADE PROMOTION The Trade Promotion Unit provides general trade information services and can assist companies with market intelligence reports and explanatory documents on CARICOM s trade agreements. The Unit also supports companies in its international business promotion initiatives such as its participation in international trade fairs and exhibitions.
TRADE CERTIFICATION The Trade Certification Office continues to certify goods for export to countries with which CARICOM has trade agreements. The respective countries are: Canada, the Dominican Republic, Costa Rica, Venezuela, Colombia, Cuba and the CARICOM Member States. This certification reduces the tariffs that are charged by the Customs Division when these goods enter the importing market.
CARIBBEAN LEASING COMPANY LIMITED The Caribbean Leasing Company Limited provides equipment leasing for businesses seeking to expand their operations.
LEASING PRODUCTS A lease is an arrangement between the Lessor (CLCL) and the Lessee (client). By agreeing to the terms of a lease, CLCL agrees to purchase equipment on behalf of the client for the client s use EZ Lease purchase of equipment on behalf of the business straight lease Smart Lease purchase of equipment presently owned by the business sale and lease back Minimum lease value $25,000.00 Maximum lease period of 4 years
BENEFITS OF LEASING Leasing allows for the provision of 100% Financing Lease payments are tax deductible Lease payments remain fixed regardless of fluctuations in the market Leasing permits the matching of rental payments to revenue generated from machinery use The value of the equipment is in its use not its ownership Leasing allows you to replace and upgrade equipment, with much less capital cost than purchasing
BDC LINKAGES
Business Development Company Limited 151B Charlotte Street Port of Spain Tel 623-5507 Fax 625-8126 www.bdc.co.tt www.smexchange.com