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Set a target date
Whether it's in two years or 10, establish a specific date when you'd like to leave the business. This creates a tangible goal, with milestones and accountability, that will ensure you stay on track. Keep in mind that while a set date is critical to goal achievement, it can (and ...Secure counsel from a team of advisers
Exit planning requires the counsel of trusted advisers from different disciplines. This team should minimally include your CPA, a business and estate attorney, a financial adviser, and an exit planning specialist who will coordinate the process and create a holistic game plan.Write a plan and review annually
Change is constant. Economic conditions or a myriad of other factors can bring new influences and impacts to your life and on your business. Be proactive and review your exit plan each year with your advisers to determine if any adjustments are necessary.
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[caption id="attachment_3210" align="aligncenter" width="540" caption="(l to R) Senior Youth Officer in the Ministry of Fimaily and Youth, Elizabeth Bowen; Deputy Permanent Secretary in the Ministry of Family and Youth, Esworth Reid; President of...
L to R Joel Richard, Trade Consultant - Barbados Private Sector Trade Team, Lynette P. Holder, CEO - Small Business Association, Shantal Munro-Knight, Deputy Coordinator - Caribbean Policy Development Centre and Robert Glass, Executive ...
At a recent Special General Meeting of the Small Business Association, members passed a resolution to increase the number of directors on its Board. SBA president Celeste Foster confirmed that the board was made aware by management of some anomalies ...
Above: Minister of Industry, Small Business development and Rural Development, Denis Kellman (right) and BSBA President, Mrs. Celeste Foster. There is a need for small businesses to engage in business networking to drive more opportunities for ent...
Plans are in train for the hosting of SBA/Scotiabank Small Business Week here next month. Just last Friday, title sponsors Scotiabank and the Small Business Association were hard at work finalising plans for the week which will see the spotlight f...
The Small Business Association recently launched a new logo design and slogan as part of its rebranding initiative started earlier in the year. The association further introduced an expanded programme for its annual signature event, Small Business Week...
Thursday June 16 “This society must stop rewarding lazy genius.” This is the view of the Principal of the Garrison Secondary School, Matthew D. Farley, as he gave the feature address at the Barbados Small Business Association’s (BS...
Barbados Small Business Association Ranked High by its European Counterparts The Barbados Small Business Association (BSBA) walked away from a recent Study Tour to Europe with a very high grade based on reviews and commendations given by its fellow ...
A contingent of 7 officials representing Government, the small business sector and the wider private-sector, left the island yesterday as part of a Study Tour to Europe, to learn of the international best practices used by European Intermediary Organis...
Following the success story of last year’s Enterprise in Action Youth Programme, the programme recommenced in September 2010. The primary aim of the programme is to increase the awareness of entrepreneurship as a viable career option to students. It is expected that students who participate in the programme will develop both personal and business skills after being exposed to concepts like brainstorming, SWOT analysis and stock control.
A multi-faceted project developed to create more tourism related jobs in the micro and small (MSME) business sector is about to get under way. Titled the “Development of Tourism Micro-Projects in Barbados”, it is being funded by the Inter-American Development Bank (IDB) under the Multi-Lateral Investment Fund (MIF) programme in collaboration with the Ministry of Tourism to the value of US$240,500.00.
The Caribbean Association of Small and Medium Enterprises, CASME, has elected a new Board of Directors coming out of the Annual General Meeting held in Barbados with fourteen eligible member countries in attendance. The CASME member countries were asse...
Businesses in the small business sector are now better prepared to access grant funding from the European Union. This comes as a result of recent training done by the Barbados Small Business Association, designed to enhance the proposal writing s...
From September 2009 the Barbados Small Business Association has been facilitating training courses that target entrepreneurs and aspiring entrepreneurs. Thus far 277 persons have been a part of the programme with approximately 86 persons currently within the programme.
Without a doubt most locally-made products can be described as being of a high quality. A reputation that has been earned out of a need to keep the discerning Barbadian public happy. It doesn’t matter the sector, you can find some of the best product...
Setting prices Strategic pricing is one of the most important factors in achieving financial success in your export business. Part of setting a realistic export price, and therefore an appropriate profit margin, is to examine production, delivery cost...
After the export plan, market research is the most important contributor to international success. With 190 countries to choose from, you want to pick the right market for your product or service. To do this you need to get a clear picture of the polit...
Why Plan? If you plan your export venture with care and thoroughness, you have a better chance of success in your target markets and the opposite is also true. Financial institutions and other lending agencies know this and will not provide funds to a...
Why Export? Countries rely on exports to generate wealth, to assist in the creation of jobs and the earning of foreign exchange. The Caribbean is no exception and increasingly we are shifting from reliance on the production of goods to services. Export...
86% of the 70 persons that participated in BSBA's entrepreneurial training courses (2009)successfully completed the courses. The courses- Quickbooks, Introduction to Internet/Computer Awareness and Introduction to Microsoft 2007 -were held for two ter...
The contribution that the small business sector makes to the economy of Barbados may often be underestimated, but is significant enough to warrant continued investment and training in the sector. That was the firm assessment made by Anthony Sobers, se...
The TOP ***5*** Services Your Business Absolutely cannot do without. Find out what they are and meet the people behind them at the Monthly Members’ Meeting on Tuesday 26th, Jan 2009 6:00 p.m. For more details call us at 228-0162
These days medical expenses can be sky high. A simple doctor or dentist appointment can cost a minimum of $50bds and this has nothing to do with any follow-up tests, follow-up visits or prescriptions. And as these costs mount, your savings meant for t...
In 2008 the Association published its first edition of its BSBA Membership Discount Booklet. This booklet sought to encourage member to member buying as it gave BSBA members the opportunity to offer discounts to other members. The booklet was not only...
This week the Association highlights its online members' directory located on the top left in our Quick Links section. Here one can find a supplier of the service/product you need. Whether it be day care services, car parts, accounting services, constr...
Recently Ms. Monica Bellamy, the owner of Lamours Catering, told the Barbados Small Business Association that she received a job as a direct result of the listing of her business in our Membership Directory. She indicated that a named government instit...
From Sept-Oct, 2009 the Barbados Small Business Association (BSBA) facilitated courses in Quickbooks, Introduction to Microsoft (Excel & Word) and Introduction to Internet/Computer Awarness. These courses were open to the public as well as our members ...
The Barbados Small Business Association's pilot project, Enterprise in Action (EIA), is a youth focused project. This project encourages students at both the primary and secondary level to view entrepreneurship as a viable career path.The schools which...
“What is that?” is the first response offered by most Barbadian small business owners. This article will outline that, as well as “How does one qualify for the Small Business Approved Status?” and “What are the benefits?" In a nutshell, bus...