Greater than 400 Micro, Small and Medium-sized Enterprises (MSMEs) throughout the Japanese Caribbean have been supported to take their enterprise operations to the subsequent degree, due to UNDP’s FUT-Tourism undertaking.
In 2021, the United Nations Growth Programme (UNDP) Barbados and the Japanese Caribbean partnered with the Caribbean Growth Financial institution, the College of West Indies International Campus (previously the Open Campus) and the Frankfurt College of Finance and Administration, to ship the FUT-Tourism Challenge aimed toward helping Micro, Small and Medium Enterprises (MSMEs) within the tourism sector to get well from the unfavorable influence of the COVID-19 pandemic on financial exercise.
Because the FUT-Tourism undertaking wraps up in 2024, over 400 MSMEs throughout 10 Japanese Caribbean international locations and territories served by UNDP’s Multi-Nation Workplace had been skilled, and 189 MSMEs, of which 77% are women-owned, acquired USD$800,000 in monetary assist leading to over 300 enterprise processes digitized.
This system was delivered by means of on-line coaching, one-to-one technical help, and mentorship.
Katherine Daniel of Southpaw Grafix Inc. (Barbados), who accomplished the programme, stated, “The coaching supplied is superb, and my mentor has enabled me to plan and implement new initiatives. The ideation behind creating numerous shopper persona and figuring out their ache factors and the best way to resolve their issues is extraordinarily useful. I actually recognize the assist and the knowledge supplied!”
UNDP Barbados and Japanese Caribbean Resident Consultant, Limya Eltayeb, highlighted the significance of regional partnerships to implement related interventions: “The Future Tourism Challenge has been an instance of the facility of collaboration and innovation. By bringing collectively companions from the private and non-private sectors, we’ve supported the transition of micro and small companies to medium enterprises and have supported them in digitalising their product and communications. We proceed to champion increasing native markets, resilient native companies, regional collaboration, and the facility and potential of digital transformation as being key for the competitiveness, resilience, and supreme prosperity of MSMEs throughout the Japanese Caribbean”.
Fatima Dirkes, Director on the Frankfurt College of Finance and Administration, recommended the sensible options the programme has supplied MSMEs, noting, “By specializing in sensible, technology-driven options, collectively we intention to unlock the potential of each entrepreneur, catalyzing a wave of sustainable improvement that resonates throughout the Japanese Caribbean. That is greater than a partnership; it’s a dedication to construct a sustainable future.”
Dr Francis Severin, Principal of the UWI International Campus, emphasised the establishment’s dedication to driving regional improvement by means of robust partnerships. “The UWI International Campus is happy to companion with the UNDP and Frankfurt College, supporting regional MSMEs in alignment with our mission for Caribbean improvement, by means of individuals’s improvement (no matter their social backgrounds), eagerly in search of new ventures on this pursuit. Lifelong studying presents hope, fostering financial stability amidst speedy digital change within the Area. Collaboration drives a big digital transformation within the Japanese Caribbean, the place innovation shapes our path ahead. Collectively, we empower regional MSMEs with expertise, driving progress and progress.”
UNDP Barbados and the Japanese Caribbean held a Closing Ceremony for MSMEs that accomplished the FUT-Tourism Enterprise Adaptation Programme on April 25. Most of the MSMEs confirmed nice resilience to finish the programme with acknowledgment coming from audio system Dr Emily Dick-Forde, Deputy Principal UWI International Campus; Stephanie Zeibell, Deputy Resident Consultant, UNDP Barbados and the Japanese Caribbean; and Fatma Dirkes, Director Worldwide Advisory Companies, Frankfurt College.
As exterior threats like COVID-19 and pure disasters proceed to influence the area, developmental efforts should reinforce the necessity for regional resilience and constructing ahead higher. Leveraging partnerships is a part of the work of UNDP Barbados and the Japanese Caribbean in its dedication to selling financial diversification, job creation and resilience with the “Blue Economic system for Inexperienced Islands” imaginative and prescient.
