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 Project Manager – German International Cooperation.
Barbadian businesses seeking to take advantage of the opportunities available in the EPA must consider partnering with foreign businesses, as a means of overcoming barriers to market entry. This proposal came from trade consultant with the Barbados Private Sector Trade Team, Joel Richards as he facilitated the final workshop in a series hosted by the Small business Association, focusing on the opportunities available in the EPA for SMEs.
Mr. Richards said, entrepreneurs must consider joint ventures, licensing agreements, co-packaging or co-production arrangements and sub-contracting among other partnership models. He believes this would give regional businesses access to distribution channels and business networks that may be difficult to penetrate if pursued independently.
He further gave examples of those involved in the architecture industry, who have made preparations to team up with firms which are already on the ground and have a solid client base. He believes this could be a solution for manufacturers seeking to enter both the European market and their overseas territories such as Martinique. Currently there are still non-tariff barriers in the form food safety legislation, which prevent Barbados from exporting in some food categories. Such circumstances would merit manufacturing in the target market or in a country which meets the requirement of the European Community.
Also presenting at the workshop was Shantal Munro-Knight, deputy coordinator at the Caribbean Policy Development Centre. She agreed that while there were many opportunities for small business owners, they must also contend with what she considers an “implementation juggernaut”. This referred to a plethora of activities, legislative measures, institutional requirements and policy demands that are yet to be put in place and are preventing SMEs from exploiting the benefits of the EPA. This coupled with a lack of motivation from the parties responsible to drive the process forward.
As a means of addressing some of these challenges Munro-Knight insisted that there needed to be clear lines of responsibility and increased educational efforts. She chided that while some work is being carried out by the various business support organizations around the region it must be done in a more coherent manner.
The presenters were speaking at the SBA Head Office before an audience of small business owners from across various sectors. Also present and representing the sponsors was Mr. Robert Glass, executive project manager of the German International Cooperation (giz). He lauded the SBA on the role it was playing in educating the business community and highlighted several other donor agencies and grants that could provide aid to businesses needing assistance to venture abroad.
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