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March 2014
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Caribbean entrepreneurs have repeatedly cited access to capital as a major constraint to business start-up or continued growth of entrepreneurial firms. This position however counters the view of a highly liquid environment and some believe that the projects that do not receive financing, perhaps do not qualify for capital or may have been led by a team or sponsor that lacked the passion, vision or enthusiasm to reassure the providers of capital. While gaps in management may result in a business venture being deemed unattractive, reasons such, innovativeness or newness of product, little or limited understanding of the product or the industry and uncertainty of outcomes are also factors identified. Further, the relationship between market liquidity and economic development in the context of CARICOM-member states requires an in-depth examination. This includes a look at the structure of the financial market in terms of the products and services offered, the sectors into which the majority of funds are channelled and the extent to which the legal, regulatory and policy frameworks facilitate the creation of new wealth. Professor Bourne, who has researched and written extensively on finance and development, believes it is imperative that the Caribbean adopts an outcome-oriented approach to transformation in which the role and function of the participants in the development process are aligned to creating sustainable value. Industries such as renewable energy, technology, clean energy, digital media, and climate change technology are seen as relevant to the transformation process but their start and growth may require innovative business models inclusive of access to a mix of capital including risk/venture capital. The extent however to which venture capital can fulfil its socio-economic role is dependent on the existence of the supporting elements of the wider ecosystem. The issue of venture capital financing and its relevance to regional growth will be critically examined at the Third Caribbean Business Executives Business Seminar to be held at the Hyatt Regency Hotel in Port of Spain, Trinidad on April 4th 2014. Be part of this action towards regional transformation by registering for the seminar. Visit http://cbes.ccmf-uwi.org/; Email: Kathleen.charles@sta.uwi.edu or ccmf@sta.uwi.edu or call 868 645 1174 / 662 2002 extension 82544 |
