Gov’t initiative to help local businesses

As local businesses face an increasingly difficult world market, government will soon launch an initiative to help some of them to become more competitive.{{more}}

Minister of Telecommunications and Industry Jerrol Thompson made this announcement while addressing a two-day seminar hosted by the Bureau of Standards in collaboration with the Caricom Regional Organization for Standards and Quality Control last Wednesday.

Thirty businesses will go through an analysis to determine what is wrong with their business techniques so as to determine how their operation could be improved.

Dr Thompson told the participants gathered at the Knowledge Institute that “in our growing competitive world, business operators cannot afford to rest on your laurels, we want you to trade regionally and globally.”

He said that if business operators do not become aware and adjust to the competitiveness that is taking place around the world, their businesses will fall.

In addition to the above mentioned initiative, government also has plans in place to stimulate new start-up businesses. The project which may come on stream in about two months, aims to get companies involved in “new innovative niche markets.”

Dr Thompson also noted that while the delivery of service may not always be consistent, local businesses have great products to offer consumers.

The seminar was held under the theme “Harmonized Regional Quality Infrastructure for Improving Market Access and Competitiveness.”