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neville Nicholls
Caribbean
Business Enterprise Trust Inc.
Chairman - Sir Neville Nicholls
If we continue to pursue the traditional areas of economic
activity, trade liberalisation will continue to devastate the economies
of small countries such as those in the Caribbean. On the other hand,
the new global economy presents opportunities for small states which have
the potential to exploit human capital development and information &
communication technologies. For the first time, therefore, small states
can vie to be on an equal base with industrialised countries.
In 1998, the Caribbean Development Bank had the vision to mount a consultancy
with a mandate to pursue alternative economic strategies for development
in the small states of the Caribbean. The focus was on the development
of intellectual capital related services which linked Caribbean supply
and brand with global niche market demand. The outcome of this consultancy
has been the establishment of a group of companies led by a Charitable
Trust, the Caribbean Business Enterprise Trust Inc., with a mission to
"Facilitate the generation of business ideas and the promotion of
business success in order to stimulate and sustain rapid global niche
market growth for small state economies." The initial sponsors of
this private sector led thrust are three Central Banks, three commercial
Banks and five regional social partner entities.
CBET promotes seven innovative Business Drivers which are designed to
address all of the constraints to new enterprise development in small
states.
CBET is predicated on the premise that it will be financially self-sufficient
after an initial period of two to three years. However, during that period,
CBET will be establishing strategic alliances with the public sector and
donor community to provide the appropriate mobilisation and development
funding while, at the same time, preparing business plans for new and
re-engineered enterprises which would attract investment from the private
sector.
It is envisaged that the CBET model will complement existing initiatives
which are focused on rapid economic growth.
I appeal to all those interested in the development of small states to
work along with us as we address this important need at this time in our
history.
Neville V. Nicholls, Chairman (Jan 2002)
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