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Magate Wildhorse Consulting and The Community of Practice for Caribbean Immigrant Entrepreneurs join the global community in celebrating MSME Day 2020.
On April 6, 2017 the UN General Assembly, designated June 27 as Micro-, Small and Medium-sized Enterprises Day (UN Resolution A/RES/71/279). The declaration and observation are intended to :
- recognize the role of MSMEs in driving the achievement of the Sustainable Development Goals (Agenda 2030);
- create public awareness regarding the contribution of SMEs to the global economy;
- rally support for small businesses; and
- to encourage research, capacity building and other needed support for small businesses.
It is known that small businesses, both formal and informal make up over 90% of all firms and account, on average, for 70% of total employment and 50% of GDP globally (International Council for Small Business (ICSB).
However, there is an urgent need to improve the development of small businesses and their contribution to capital formation, innovation, decent work, sustainability, and other Sustainable Development Goals (SDGs). Women lead only one third (1/3) of businesses in the formal economy—therein lies implications for attaining SDG 5: Gender Equality.
The figures related to employment and contribution to GDP do not always hold true across all economies and countries. For low middle income to low income countries the contribution to GDP by SMEs (MSMEs) range from 29% – 23%. The contribution can be even less in some countries, groups of countries and among socio-economic groups within developed countries. SMEs were first responders and innovators rising to the challenge to find solutions to problems associated with the COVID 19 pandemic. But this was not true for all groups. Let us look at entrepreneurs who contribute to job creation through self-employment or within the informal economy for instance. The Black, Caribbean, Asian and Other Minority Ethnic Groups (BCAME) were over-represented in that category, many of whom faced closure or had to pause their operations.
The suffering brought on by lack of social protection and the implication for SDG #: 1 No Poverty was stalk. More than 50% of BCAME entities reported they might not be able to survive the pandemic. To make matters worse a substantial number of such businesses did not qualify to receive stimulus packages. Significant portions of entrepreneurs and individuals who are economically active members of BAME or BCAME in home and host countries are without social protection.
But with effective planning, risk intelligence, and systems thinking many impacted entrepreneurs might find a second chance in penned up demand triggered by COVID 19.
Goal # 8 : Decent Work and Economic Growth, what and how will the BCAME SME community do in order to increase their contribution to capital formation and investment? The preceding are two key actions and indicators of what we must do in order to increase income per capita within the community and beyond. How and in what areas will we focus our efforts to increase production and intellectual property assets?
Recently in our Outride: COVID 19 Business Threat Seminars issues related to increasing the portfolio of owners of Geographical Indicators (GIs) and the equitable transfer of related wealth to communities was discussed by Massimo Vittori, Managing Director of oriGIn.
More recently Simon Anholt, founder and publisher of The Good Country Index spoke about the need to better leverage brand Jamaica by developing more high value products. He proposed the example and opportunity of producing a Jamaican made running shoe. The challenge is for Jamaicans at home as well as in the diaspora. Diasporans should see themselves as key collaborators, partners, investors and even the triggers for driving related high value product development and sales. While products with GI indicators must be produced in the home country in order to retain their economic value, diasporans looking to boost their business or personal economic recovery might be wise to invest in businesses in their home countries in addition to their going concerns in host countries. The Jamaica Junior Stock Exchange presents an easy opportunity to act for change as shared by Mrs. Marlene Street Forrest, Managing Director of Jamaica Stock Exchange in yet another episode of Outride COVID 19.
In 2016 the Global Sex Slavery Index reported that approximately 17,000 people were living in modern day slavery or are victims of human trafficking in Canada. Trinidad and Tobago is said to have the highest demand for trafficked individuals in the Caribbean. In May 2020, seventy-nine (79) individuals including 25 minors destined for criminal gangs in Trinidad were rescued by the Venezuelan Navy (Trinidad Guardian). How will Caribbean diaspora entrepreneurs, Canadian and US SMEs address these issues?
As it relates to SDGs: 13 Climate Action, 6 Clean Water and Sanitation, 11 Sustainable Cities and Communities, 12 Responsible Consumption and Production, 9 Industry, Innovation and Infrastructure what actions will we take? Responding to SDG 9 requires positioning and capacity to participate rather than to fund unless through investment.
The Goals just mentioned should be included in both our PESTLE and SWOT analysis as well as our value chain assessments. We need to look at how we can reduce or eliminate negative impacts and drive the increase in positive impact for delivering the goals as well as business viability. As we look at profit and purpose we must also consider the existential threat to the Caribbean posed by Climate Change. What role will you play in growing or supplying the market for climate finance solutions in the Caribbean?
The 2100s is not that far away; so, what will we do to support Affordable and Clean Energy, Goal #7? Goal 7 and Goal 2, Zero Hunger are major priorities for the Caribbean. Undernutrition is a big challenge, health and well-being and high mortality rates highlighted the resilience gap in the BCAME Community.
So, what will we do about Goal # 3 Health and Well-being?
Drug abuse and drug related deaths— are there opportunities for you to make a difference in your host and home country?
What will your business or non-profit do to advance progress related Goal # 4: Quality Education? Specifically, what will we do to facilitate the growth of high value in-demand professionals and tradesmen with 21st Century employability skills in our communities?
With a global ocean-based economy of USD 3-6 trillion per year, what can you do to grow your business while protecting the ocean environment? Perhaps SDG 14 is the missing piece in your economic recovery, environmental scan and value creation puzzle.
As it relates to Goal # 10: Reduced inequalities, are there gaps in the capacity of the public sector to serve BCAME that your business or non-profit could fill? Are there issues you must champion through advocacy?
Crime is a problem for more Caribbean countries than meet the eyes, Jamaica, Trinidad and Tobago, the Dominican Republic and Honduras may feature prominently in the reports, but serious issues exists in other countries who are experiencing significant growth in criminal activities. How can you profit for good and drive the results for Goal 16? We cannot do it alone. With whom will we partner for delivering the goals and Goal 17? What will you do for ensuring “no one is left behind”? When all is said and done we must plan, monitor, evaluate, learn, adjust, and improve. Evaluation is said to have the highest multiplier effect in delivering the Goals.
While we join organizational leads, the International Trade Centre, UNIDO, the ILO and the World Bank in celebrating MSME Day 2020 we want to encourage BCAME to celebrate with no blinkers on. Know your numbers and context, plan, and act to be truly part of SME communities that are transforming our societies for improving “people, planet and prosperity”. Review the seventeen (17) Goals and 169 indicators and identify where you can make a difference for your business and in delivering the Goals.
Neither “power” nor “potential of small” can be “unlocked” without knowing our context.
We salute all entrepreneurs! We celebrate and salute entrepreneurs in the BCAME community!
Thank you Argentina for giving us MSME Day!
Happy MSME Day.
Be with us at 10 AM EST on June 27, 2020 when host a conversation around resilience skills and behaviours for entrepreneurs on Facebook.
Benefit from our Outride COVID 19: Business Threat Seminar Series register at the following link : https://forms.gle/PtpZAT8czWYExWpZ7
Meegan Scott (for) Magate Wildhorse and The Community of Practice for Caribbean Immigrant Entrepreneurs.
Call for Reviewers & Editors — Magazine/Journal 2020
The Noësis: MWildhorse Strategy and Performance Magazine (two issues per year) is committed to publishing non-technical as well as technical information in the fields of Business and International Development. With a focus on strategy, marketing, trade, performance management and measurement, intellectual property and the creative industries—the publication aims to provide a complete and reliable source of information, how-to and in field applications on the aforementioned topics. It will facilitate the growth of grey literature in strategy, marketing and performance management unique to Caribbean-Canadian and Caribbean organizations. By Caribbean we refer to the Caribbean and its diaspora markets. We are devoted to publishing high quality articles and stories that are easily accessible and sold at an inclusive price.
Deadline: June 15, 2020
Email at: email@example.com
More at: https://magatewildhorse.ca/call-for-reviewers-editors-magazinejournal-2/
Call for Papers – Summer Edition
Deadline: July 15, 2020
Deadline for final submissions: July 25, 2020
Special opportunity for publishing the best 2000-3000 words from your Masters thesis or PhD dissertation available.
Please click the link above to ensure your submissions are compliant with the double-blind peer review process applicable to all submissions.
To submit your proposal, article, or query, please contact Meegan Scott by
Email at: firstname.lastname@example.org
Entrepreneurs and consultants here is your chance to put your expertise on parade and boost your COVID 19 recovery results.
We look forward to articles, case studies, cartoon and art related to COVID 19 and Evaluation and or for driving the Sustainable Development Goals.
As partners in delivering the Decade of Evaluation for Action we will dedicate a space in the forthcoming edition for related issues.
Visibility and simplicity―do you know an entrepreneur, a consultant, or business that could do without one or the other?
We didn’t think so. So, we strive to give organizations and entrepreneurs the best of both.
In today’s world where the language of business expands almost daily and growth-related concepts can be tough to understand, The Noësis aims to bring understanding and simplicity —disambiguation.
Its content will facilitate understanding of tough business and development concepts― while accelerating the learning of industry language and how-to.
And by so doing help organizations and entrepreneurs get more out of their investment in consulting solutions. Practitioners and consultants can expect content that will help them to improve their craft.
Find out more at:
Chief Editor and Publisher, Meegan Scott
We are pleased to welcome Dr. Mythili Kolluru as academic editor to our review board. Dr. Mythili Kolluru is an Assistant Professor in the Professional Studies and Undergraduate department of the College of Banking and Financial Studies, Oman.
We are pleased to welcome Dr. Kiran Nair as academic and business editor to our review board. Dr. Nair is Program Director, Master of Science in Leadership and Organizational Development, Abu Dhabi School of Management, United Arab Emirates.
Notice of misprint: Series 9 was held on Friday June 12, 2020 instead of Thursday the 11th.
Outride: COVID 19 Business Threat Seminar
“Embracing risk for driving vision and growth”
The series is grounded in risk intelligence (RI). RI is that process of embracing risks and putting it to work for ensuring your business can survive or thrive during a crisis and beyond. It is also about value creation and protection. About delivering your vision and mission in the face of crisis as well as during the “normal”.
We were delighted to present series nine (9) in the Outride: COVID 19 Business Threat Seminar series yesterday. Originally scheduled for Thursday the 11, 2020, heavy rains in the USA, Internet woes in Jamaica and Canada sought to outride our participants.
We empathize with those who were still experiencing challenges and had to join by phone or to missed the session.
While we wanted to wait for you; we had to make the week’s delivery timeline, so we did yesterday, June 12, 2020. Nothing would stop our special edition in support of our commitment to The Decade of Evaluation for Action. And we were richly rewarded by the responses and ease with which attendees stayed for the event which was held 3:00 PM – 6:00 PM, on a Friday evening. For that we promise you workshops and discussions that expand on some of the topics touched on as you rollout plans and execute your COVID 19 recovery strategy and actions. Those sessions will also help those who joined the series in the later half,thus making it more difficult for them to complete the series assignment for strenghten their organizations because of the sessions missed.
When: June 11, 2020 | Time: 3:00 PM EST | Toronto & New York
Where: Online | Registration detail below
Event Programme: Click here to view.
The Decade of Evaluation for Action – What’s in It for Caribbean Communities presented by Meegan Scott.
Shared in that session were the campaign messages for the observation that were provided by conveners– UNFPA, EvalYouth and the Global Parliamentarians Forum for Evaluation. In addition, the what, whys, who, and how for delivering the intended and desires results of the Decade of was presented.
Meegan shared how evaluation helped to tell where we were in delivering the Sustainable Development Goals (SDGs) 1, 5 and 8 (No Poverty, Gender Equality, and Decent Work and Economic Growth). The gathering examined why those goals were important and reflected on some of the associated indicators and targets. With greater success in delivering those goals globally the Black, Caribbean, Asian and other Minority Ethnic Groups (BCAME) would not have been hit so hard by the Coronavirus pandemic.
Attendees found answers to the questions:
- What is evaluation?
- How it differs from data analysis?
- How evaluation provides evidence for informing decision making versus data analysis by itself (especially as borrowed from research for another purpose)?
- Why evaluation is critical to delivering the SDGs, pathways of transformation (broad and contextual).
Ten (10) evaluation approaches were presented; and of the ten, seven (7) were highlighted for significant increase in demand and use by community service organizations in the Jamaican and Caribbean diasporic markets.
Among the ten listed were utilization-focused evaluations, randomized control trials, gender-based, humanitarian and empowerment evaluations. Types of evaluation generally applied at various stages in the life of an intervention, evaluation questions associated with each; the need for better evaluations and capacity building in evaluation was also shared. Meegan, also shared the Magate Wildhorse commitment related to influential evaluations— facilitating the use of evaluations, partnerships for evaluation, accelerating the SDGs through evaluation, strategic planning, and critical friend evaluation support.
Also shared were four types of influential evaluations, features, utility and impacts of good influential evaluations. Attendees were encouraged to join and commit to the Decade of Evaluation for Action. We are pleased to note that one attendee is in high gear with planning for the delivery of one action by next week; and another is moving to establish a supporting business..
That session was the second action delivered by Magate Wildhorse as a committed North America organizational partner in the delivery of the global goals and expected results of the Decade for Evaluation for Action.
Theo Chambers delivered another laughter extracting power treat, Joy Spot Motivational Session. He reminded participants that “knowledge was not power, but that power was what you do with knowledge”. “Thank you Theo, Great reminder of how to live life” and ” well said” were among the comments participants share in response to Theo’s message.
Andrew Sharpe gifted us with “Bun and Cheese” for life in the session A Moment with Miss Lou. Participants had the following comments for Andrew, “Enjoyable Love Ms. LOU”, “Great work Andrew”, “ Nice piece of Jamaica culture @Andrew” and “He’s good, am sorry he did not pursue it as a career”. “I loved it”. Andrew we at Magate Wildhorse was hearing “Bun and Cheese” by Miss Lou for the first time. Thank you for that treat.
Meegan Scott also delivered the fourth session, COVID 19 Opportunities — SDGs, Evaluation, Performance & Your Pivot (For profits & Non-profits) .
In this session we took a quick recap of the entrepreneurial skills gap of the Caribbean Immigrant Entrepreneurs (See Fact or Fiction). Following the pre-COVID 19 capacity challenges of both for profit and non-profits, Scott challenged the gathering to become industry influencers. She emphasized the need to conduct needs assessment for entrepreneurship and other community development interventions, experiments, case studies, SMARTER and measurable indicators that would stretch and reward organizations and their leaders as they stepped to the COVID 19 challenge. She also highlighted the need for capacity building in evaluation for both programme and business operations, for Caribbean communities and the rest of BCAME. The need to “do it ourselves” when it comes to business recovery as well as purpose and profit for driving the delivery of the SDGs in host and home countries was also stressed. The need for more and better evaluation, advocacy, grey literature, and community finance was hammered home.
Session four is where for-profit leaders got a deep dive into why BCAME did not benefit from stimulus monies and the fact that the writting was on the wall before the funding became available. The 5C’s and 5P’s methods of evaluating credit risk; periodic cashflow red flag; indicators, results trees and how they were used to track changes in beneficiary outcomes and validate resilience or transformation was covered. Given, the interest of several participants in the agriculture and food business sector the Making Markets Work for the Poor (M4P) guidelines and examples referenced since the start of series was expounded on in greater depth yesterday.
Not All Doom and Gloom – Pent Up Demand– Get Ready for Re-Opened Markets
Socio-economic trends globally, sustainable ocean economy (blue economy) opportunities by way of home countries were discussed as was tactics for tapping the COVID 19 BCAME legacy. Meegan shared that many BCAME businesses thought to be dead in the service sectors will have significant opportunities for filling pent up demand; the need for new inventory by retailers; and heightened demand for variety, plus willingness to bargain shop and to try new things. She cautioned entrepreneurs to get ready to meet the demand, protect health and provide reassurance to clients related to the protection of their health. She left them with ten tactics for seizing the opportunities presented by COVID 19. And a reminder to plan, execute, monitor, conduct ongoing environmental scans, evaluate, adjust, and update strategy and plans if they are to attain increased risk intelligence and resilience.
What participants had to say about the two sessions presented by Meegan Scott:
“The session was an informative one and there was valuable information shared that a I think that the Caribbean Diaspora could benefit from especially the group that is involved in non-profit organizations”.
“Excellent information”, “Informative session”, “Great presentation Meegan”, “Awesome presentation. I felt like I was in a PHD class. Thanks”
“Great point about able to do higher level analysis @ Meegan”.
As always the session ended with the gathering and chit chat among attendees.
Event Rapporteur, Dania Sammott will provide notes from the session report for attendees.
Join us next Thursday at 2:00 PM Eastern for series 10.
If you’ve never been to one of the sessions and would like to join us, please pre-register at the link below.
Outride: COVID 19 Business Threat Seminar is a global disapora entrepreneurs affair! Leaders of mainstream businesses with an interest in doing business with diaspora entrepreneurs are welcome to register for the match making and networking sessions.
Please note that this event is not just for small and micro-businesses, big businesses and big nonprofits can benefit also.
Brought to you by Magate Wildhorse Consulting, and The Community of Practise for Caribbean Immigrant Entrepreneurs (Home of BIDEM Conference & Trade Show)
Advance or maintain the progress.
You can’t spell BAME without the C. The contribution of the Caribbean has been too significant. The impact on the Caribbean community is significant and different BCAME (Black, Caribbean, Asian and Minority Ethnic Groups) #BCAME #BAME
Be with us for COVID 19 and Beyond —Old Markets, New Markets, Different Results, this Thursday, June 4, 2020 at 2:00 PM EST.
See the programme and speaker lineup below.
COVID 19 Caribbean Diaspora Business Response News
Caribbean governments should build a financial protection strategy that combines instruments that address different layers or types of risks. So said Gina Sanguinetti-Phillips, Program Manager at Caribbean Catastrophe Risk Insurance Facility (CCRIF SPC).
She was speaking at the fifth global Outride: COVID 19 Business Threat Seminar recently hosted by Magate Wildhorse Ltd, Toronto and attended by representatives in various diasporic markets as well as participants in the Caribbean.
Among the protection strategies and instruments shared by Sanguinetti-Phillips were:
- parametric insurance, traditional insurance,
- contingency debt facility, donor assistance (relief and reconstruction),
- budget reallocation, tax increase and
- credit (domestic and external) depending on the phase of the disaster response.
The climate risk finance and protection opportunities shared are available to both governments and vulnerable low-income individuals such as “small farmers, tourism workers, fishers, market vendors and day labourers. Vulnerable income individuals can benefit through the provision of quick cash payouts following extreme weather events (specifically, high winds and heavy rainfall)”. Participants expressed a strong desire contribute and benefit as business leaders and investors in their home countries. They pressed for Caribbean wide access to the livelihood protection and other solutions. Sanguinetti-Phillips noted that between 1970 and 2017 damages from natural disaster totaled US $156 billion dollars.
Rudi Page of Making Connections Work, UK invited Gina to share the opportunities with diasporans in the UK. Available scholarships and internships in climate risk finance were also of interest.
Unveiled at the event was the hybrid core-peripheral network governance model with integrated market mode— for governing and coordinating a comprehensive diaspora and Caribbean response. The model was shared by Meegan Scott, Principal at Magate Wildhorse Consulting. It is an inclusive and collaborative mechanism for delivering business and economic recovery. The model has been adapted for advancing individual and collective sustainable development goals and ambitions of Caribbean diasporans, home and host countries.
Scott pointed out that the model will eliminate negative competition and allow for different organizations and individuals to advance their visions while contributing to global and local action and results.
The core-periphery structure is often used for driving resilience because it allows for connectivity, idea generation, and information flow including during emergencies or shocks. The flow can be intensified or scaled down as required for drawing in the public and private sectors as well as civil society as needed.
There will be a need for “significant changes in culture, practice, entrepreneurship in diasporic markets, and the need to develop key industry market sectors”. “In addition, other social and economic challenges must be addressed, it was therefore essential to include a market mode”. The market mode will complement the network to deliver effective coordination and the development of efficient markets. Complete with diaspora-coordinated working groups, communities of practice, networks and communities, governments, think tank and markets, the model will drive the delivery of profit, purpose, mission-driven social impact and functions of key stakeholders and duty bearers in the third, public and higher education sectors in host and home countries. The model was partly informed by research on COVID 19 and its impact on diaspora organizations being by Scott since April of this year.
In another session Scott shared about Supply Chains, opportunities and strategy responses and hidden industry sectors impacted COVID 19 that hold pivot opportunities for entrepreneurs. Jennifer Clémence Graham, Managing Director and Senior Consultant at JG&G Consulting Services Inc. highlighted the importance of being social while presenting “ Digital Transformation – Process Pivots for COVID 19 and Beyond”. Theo Chambers, Motivational Speaker at CaribAcademy reminded the gathering “To be an entrepreneur you don’t have to fear, always do your best, consider how you spend your day, get ready for of any opportunity you can afford or manage”. He also cautioned the audience “not to participate in the recession”, but to borrow that approach used with success by Sam Walton of Walmart during the 1991 recession.
Roy Page, of Asterix Tourism Services Ltd asked that the gathering consider the financing challenges faced by the Government of Jamaica and growing debt to the Chinese. That came as the group contemplated the need to shift the mix of remittances towards investment in productive capital. The agriculture sector and food security were named as a priority. Rudi Page, Dr. Roy Davidson, of UNI Healthcare Inc and Andrew Sharpe of Authentic Caribbean Foundation championed health care and disability while Philip Bedward of Pathways, championed education.
Factored into the strategic profit and purpose responses of the organizational leaders for helping themselves, host and home countries were:
- Predications of a more active hurricane season or the Caribbean with a forecast of 7 to 9 hurricanes, two of which are expected to become major.
- The pronouncements of the United Nations Economic Commission for Latin America and the Caribbean (UNELAC), for the region shared by Gina “the COVID-19 pandemic will result in the worst economic contraction in the history of Latin America and the Caribbean” and that will that will come “sharp increases in unemployment; reduction in household incomes and the ability to meet basic needs; falling commodity prices; reduction in international trade; and increases in the poverty rate”.
CCRIF, the world’s first multi-country multi-peril risk pool based on parametric insurance and provides parametric catastrophe insurance for Caribbean and Central American governments. Their solutions covers drought, public utilities, agriculture, excess rainfall, tropical cyclone, and fisheries, the tourism industry included. The group will reconvene to look at trade, finance and investment as well as how to leverage the governance model for impactful joint response and recovery during and post the COVID 19 era; as well as how to better prepare to help the Caribbean through relief, recovery and reconstruction phases of environment, climate, health crisis and other shocks.