09th January 2010
There is cautious optimism as the New Year dawns!!

The year 2010 was warmly welcomed as the financial pundits seem to have struck agreement on the state of the global economy. The conclusion is that the recession has been arrested and better days are ahead. Wall Street is doing fine. Banks are making exorbitant profits and housing sales are improving. All indicators show encouraging signs except for employment which continues to lag behind.
The year 2010 which is also the beginning of a new decade will depend upon each of us to double our efforts at ensuring that some degree of success is achieved. It is necessary to make a commitment to use our time more effectively. We must stop being too busy to take cognizance of what is happening around us. The cost of living and doing business is constantly rising and there must be ways of attracting new sources of income. We have learned to stay focussed, to have a tunnel vision and keep moving forward. Unfortunately for many of us this approach could be disastrous if applied without taking the current reality into consideration. Just maybe your business has no room for growth, the income is steadily declining. You have to know when to call it quits. You must be able to recognize if your business will benefit from changes in the economy and to estimate the time frame so that you will make a conscious decision whether to stay on course or divert to something else.
No one in today’s world can argue against getting involved in multiple sources of income. You just cannot put all your eggs in one basket. There are some creative businesses that were established in the past year and I am certain there are many more that will come on stream this year. The time has come for those persons with special skills to begin to offer home based services, putting their spare time to more productive uses. Those persons with jobs must no longer complain about inadequate salaries but seek out part time opportunities. Complaining helps no one; just do something.
Assou Square in Castries and Vieux Fort kicked off the year in a positive light for many vendors. I noted that the new block of shops in the Castries Market is now opened and has enhanced the shopping experience. I walked over the entire project a few days before Christmas with a former board member of SLISBA and we were very impressed. I am hopeful that some agency will arrange for the training of the business persons who have made such a bold effort.
I am convinced that the MSME sector needs a driver - someone who believes in the power of small businesses and is passionate about the small man achieving his/her full entrepreneurial potential. A strong stimulus package is vital to give the sector a real opportunity to unleash its full potential as it relates to encouraging and developing new entrepreneurs and providing jobs, especially for our young people.

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