Pelican Village, formerly a quiet craft center, has undergone a significant transformation into a vibrant hub for small business development, spearheaded by Export Barbados. This initiative has created a dynamic ecosystem, providing nearly 50 small businesses with essential support to grow and potentially enter global markets.
Mark Hill, Chief Executive Officer of Export Barbados, emphasizes a holistic approach to fostering entrepreneurship in the village. The initiative goes beyond merely offering operational space, extending to the provision of critical tools, training, and support essential for success in an increasingly competitive environment.
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The transformation strategy focuses heavily on practical, hands-on training. Regular town hall meetings are held to address important business topics, such as pricing strategies, customer presentation, and marketing. International experts are invited to conduct workshops on branding and design, underscoring the critical role these elements play in today’s market.
Export Barbados is working to establish a strong foundation for these small businesses, enabling them to scale up and eventually penetrate global markets. Comprehensive training in key business areas, including accounting, auditing, and supply chain management, is provided. Furthermore, an AI tool is being developed to assist entrepreneurs with tasks such as managing national insurance contributions, further promoting business growth and sustainability.
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The success of the Pelican Village initiative is evident in the increased number of businesses and jobs created. Even during off-peak seasons, each business employs three to four individuals, making a substantial contribution to local employment and economic development.
A collaborative atmosphere has emerged within the village, where entrepreneurs share ideas and support each other. This sense of community has been integral to the success of the initiative, contributing to the creation of a dynamic entrepreneurial ecosystem. The diverse mix of businesses, which includes food stalls, craft shops, and tech startups, further enriches this ecosystem.
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Looking ahead, Export Barbados intends to expand the number of entrepreneurs at the site and enhance the training programs on offer. The goal is to have at least 100 entrepreneurs in training at any given time. Additionally, there is a vision to position Pelican Village as a model for small business development throughout the Caribbean.
The success of this initiative, according to Hill, demonstrates that it is possible to replicate this model across the region, offering a blueprint for small business growth and success in the global market.
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