Caribbean Week. January 31 - February 13,1998. Page 41
Caribbean Week
Business
T & T and Curasao discuss
the creation of a Regional
Exporters Association
REPRESENTATIVES of Trinidad &
Tobago and the Netherlands Antilles
have been exploring ways of intensify-
ing the relationship between the two
countries, particularly in the area of
trade and commerce.
A delegation of business people
from Trinidad & Tobago visited
Curasao recently for discussions with
their Curasao counterparts on various
matters. During its two-day visit, the
delegation, headed by Sam Dowlath,
president of the Exporters’ Association
of Trinidad & Tobago, met with sever-
al members of the local business com-
rnunity to discuss trade in products to
the mutual benefit of both countries.
According to Mr. Dowlath, the mis-
sion sought to follow up on initiatives
started by the Trinidad & Tobago
Manufacturers’ Association (TTMA)
and the government of the Netherlands
Antilles to foster closer ties and trad-
ing relationships with Trinidad &
Tobago’s neighbouring countries.
As is widely known, the current
Antillean government is pursuing
greater integration with countries in
the region to facilitate the access of
domestic companies to these markets,
among other things. It is in the frame-
work of these efforts that the
Administration sought and received
the approval of the Dutch government
that would enable the nation to
become a member of the Association
of Caribbean States (ACS). The
Netherlands Antilles are part of the
Dutch Kingdom and in principal for-
eign affairs are looked after by the
Dutch Ministry for Foreign Relations.
While in Curasao, Mr. Dowlath
also took the opportunity to initiate
discussions with the Board of
Directors of the Cura5ao Exporters’
Association on the possibility of
founding a Caribbean Exporters’
Association. He explained that the
coming together of organisations
which have the same mission and
objective of building their country’s
exports could serve to provide sup-
port to initiatives which can be pur-
sued based on each country’s experi-
ence.
“The fostering of a working rela-
tionship would also lend support for
the pursuit of programmes which can
rebound to the benefit of both coun-
tries and for the sourcing of raw mate-
rials for processing, imports of fin-
ished goods from Curasao, and where
possible, the sourcing of supplies for
the fulfillment of orders,” Dowlath
remarked.
A quick analysis of current devel-
opments shows that, worldwide, the
increasing global orientation of indus-
try and the inter-dependent nature of
trade, technology and capital flows are
resulting in a non-reversible trend
towards closer integration of regional
economies. At the national level it
means that the authorities need to
implement policies that seek to pro-
mote greater integration of the domes-
tic economy with that of neighbouring
trading partners and competitors. At
private-sector level it means that indi-
vidual businesses and business organi-
sations need to work towards expan-
sion of their ability to sell to customers
outside their domestic market.
It is with this in mind that the
Trinidad & Tobago and Curagao
exporters’ associations are seeking
ways for fostering a greater degree of
partnership between the two countries.
The institution of a Caribbean
exporters’ association will certainly
serve to facilitate the achievement of
this objective. The intention behind
the institution of such an association is
to develop and promote an extensive
network in the Caribbean, where
exporters are able to benefit and learn
from a working relationship. A region-
al association could also help in the
development of a wider understanding
and consensus among its future mem-
bers on economic challenges, priori-
ties and strategies.
During their visit in Curagao, the
members of the Trinidad & Tobago
delegation also made use of the oppor-
tunity to exhibit and promote a range
of Trinidad-made products, including
processed foods, beverages, cut flow-
ers, fruit and vegetables, spices and
children’s garments. (Adapted from
The Business Journal)
The importance of planning
ONCE you’ve decided that
you want to be an entrepre-
neur and you’ve determined
you have the necessary
skills, the next step is to
construct a Business Plan.
This charts the path you
will follow to take the busi-
ness from the idea stage to a
real entity — hopefully a
successful one. The busi-
ness plan is perhaps the
most important guide to
building and managing a
successful business and
helps investors, suppliers,
and employees understand
the operations and goals of
the business.
Although planning is
critical to a business’ sue-
cess, it is sometimes over-
looked in favor of intuition.
Other obstacles which can
hinder planning, include
insufficient knowledge
about the process of plan-
ning, and a fear of the
unknown. These obstacles
must be overcome if the
business is to be successful.
The Business Plan
The business plan is a
written document that clear-
ly sets out the goals of the
business and the methods
for achieving them. It
explains what the business
does, its operational charac-
teristics, and how the busi-
ness will be capitalised and
managed. It is the business
owner’s responsibility to
prepare the plan, using out-
side help as needed.
Elements of the plan
• Firstly, describe the
business — the name,
address and owner. State
your goals and objectives
and why you are going into
this particular business. The
mission should be clear and
easy to understand.
• Clearly outline the
products and/or services
you will offer, how and why
they are better than the rest
and your current status in
product development.
• Outline the sale and
marketing techniques your
business will employ.
Consider several key areas,
such as the composition and
size of your market, your
projected market share ver-
sus the competition’s, your
pricing and sales terms and
how you will market the
goods and services.
•Identify the business’
operating needs — equip-
ment, facilities, human
resources, production meth-
ods and distribution chan-
neis. Identify the manage-
ment team and its experi-
ence and track records.
• State how the business
will be financed. Provide
start-up costs, the expected
profit or return on invest-
ment for the first year, the
projected income and bal-
anee sheet statements, and
the projected monthly cash
flow statement. Clearly
explain all projections.
The length of the plan
will depend on the nature of
the business. It may vary
from just a few pages to
over a hundred pages.
Regardless of its length, it
must be clear, accurate,
complete and sufficiently
attractive to entice potential
investors.
From Page 39
to determine the full impact of the froghopper dev-
astation of its sugar cane fields.
However, a company spokesman insisted that
Caroni will meet the revised target and its export
quotas to Europe and the United States.
But, he said, the company may have to import
the commodity to meet local demands.
Marriott forms resort network
to combine sales efforts
SOMERSET, New Jersey — Marriott has formed
a network that will focus on the sales and market-
ing efforts of four resort properties — The Aruba
Marriott Resort & Stellaris Casino, Marriott’s
Castle Harbour Resort in Bermuda and the
Marriott CasaMagna Resorts in Cancún and Puerto
Vallarta, Mexico.
The group, based in Somerset, New Jersey, is
headed by Gary Grove, director of sales and mar-
kedng, with support from Phil Young as director
of travel industry sales and Dan Rosencrans,
director of group accounts.
Marriott’s Offshore Resorts hold a sizable share
of the competitive resort market segment catering
to honeymooners, golfers, sun worshippers and
meeting groups. By consolidating sales and mar-
keting efforts, the network will reinforce Marriott’s
position in the resort industry.
“Marriott’s travel agent partners will be better
served by having sales staff that is well-versed in
selling a portfolio of hotels versus having several
sales representatives calling on the same travel
agent,” said Grove.
When appropriate, the Marriott Resort Network
will expand to include additional Marriott
Caribbean resorts in marketing campaigns targeted
to similar audiences. For example, Marriott’s
annual Meeting Planner Bonus Programme, which
included eight resorts in 1997, is available to meet-
ing planners and incentive buyers looking to save
costs by booking one of the eight resorts off-sea-
son.
All rates and packages at the Marriott Offshore
Resort Network properties are commissionable to
travel agents at 10 percent.
Freight
Forwarding
& Consolidation
to the entire
Caribbean.
Air & Ocean
Shipments.
Tell ¿305) 477-001 5 • Fax: (305) 597-6003