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Pillar Presentation - Finance Availability

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Presentation of the ideas generated from the discussions, the gaps, medium to long term plans, priority areas for 2011.

Presentation of the ideas generated from the discussions, the gaps, medium to long term plans, priority areas for 2011.

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  • 1. Finance Availability Pillar
    Summit Outcome & 2011 Action Plan
  • 2. Mission
    Increase availability of equity& debt
    financing options available to Entrepreneurs
    (of all stages and sectors) in Barbados in
    order to be the #1 Entrepreneurial Hub in the
    World by 2020
  • 3. Measures of Success 2011
    Finance Web portal launched online by 1 April 2011
    4 Business Finance workshops offered covering capital structure and financing alternatives in 2011 (consider Kauffman Fasttrac program)
    One or more Angel Investor Groups activated:
    Invests in 10 Ventures in 2011
    Professional and other groups help companies prepare to pitch and refer entrepreneurs to angels
    Possible tax incentives to Angels
  • 4. What does World Class look like?
    World class investors to world class entrepreneurs
    Understand your business idea ‘domain knowledge
    Willing to share risk & rewards
    Trust
    Responsive
    No ‘pie in the sky’ valuations
  • 5. What does World Class look like?
  • 6. Where is Barbados on the Benchmark Indicators?
  • 7. Situation: Barbados characteristics
    Individual traits
    Lack of information available on how to access funds
    Risk averse – investments are typically long term & fully guaranteed with limited ‘skin in the game’
    Reluctance to give up control for equity financing
    Businesses are built not sold – ‘exit strategy is counter cultural’
  • 8. Situation: Barbados characteristics
    System traits
    Banking system is not set up to encourage entrepreneurs
    Not yet a truly competitive market
    Regulatory environment hinders equity driven investment
    Protectionist – constraints in free trade
    Investments are typically small scale & ROI expectations are low
  • 9. Narrowing the gap
    Educate Barbadians on Financial ‘language’ and types of investment available to raise capital
    Lack of government support & policies directed at promoting the availability of finance
    Lobby Government for regulatory reform
    Work with Government & Central Bank to develop incentives and breaks for entrepreneurs
    Relax FOREX controls & implementation of credit bureau solutions
  • 10. Key Themes
    Fear of Failure – less acceptable than in other cultures
    Role of angel investment in developing markets
    Reform to Pension fund regulation
    Foreign Direct Investment - raise profile of Barbados brand to international entrepreneurs
  • 11. 2011 Action Plan – Top 3 priorities
  • 12. Reconfirm Mission
    Increase availability of equity & debt financing
    options available to Entrepreneurs (of all
    stages and sectors) in Barbados in order to
    be the #1 Entrepreneurial Hub in the World
    by 2020