Barbadian SMEs Access New Markets with IIC Support

05/10/2012

FINPYME ExportPlus promotes strategic planning for increased exports

St. Michael, Barbados, May 10, 2012 — The Inter-American Investment Corporation (IIC) has launched an innovative training series, helping some 30 small and medium-sized enterprises (SMEs) in Barbados develop business plans with a view to increasing their export capacity.

This first workshop in the series provided insight into business planning methodology, enabling participating companies to create their own export strategy. It was held in collaboration with the Barbados Investment and Development Corporation, the Barbados Manufacturers’ Association, the University of the West Indies, and Scotiabank.

“This technical assistance workshop provides a great opportunity for Barbadian companies to improve their international reach by learning how to build and plan an export business strategy,” said Bobbi McKay, executive director of the Barbados Manufacturers’ Association.

A second and third training module scheduled for later in the year will help selected companies improve their planning processes through individual technical assistance, identifying strategic goals and new business opportunities abroad.

The workshop series is part of the IIC’s FINPYME ExportPlus program, which was launched in Barbados in 2010 and has since benefitted some 100 companies. FINPYME ExportPlus provides technical assistance to SMEs in Latin America and the Caribbean, making them more competitive and raising their export capacity.

FINPYME ExportPlus in Barbados is funded by the Government of Korea through the Korea-IIC SME Development Trust Fund.

About the IIC

The IIC is a multilateral financial institution that is a member of the Inter-American Development Bank (IDB) Group. The IIC’s mission is to promote the economic development of its regional member countries by encouraging the establishment, expansion, and modernization of private enterprises, particularly those that are small and medium in size. It does so by providing financing (in the form of equity investments, loans, guarantees, and other instruments) and advisory services to private enterprises in Latin America and the Caribbean. In 2011, the IIC reached US$1.48 billion in assets and approved 71 operations channeling US$464.7 million to SMEs in the region. For more information on the IIC’s activities, visit www.iic.org.

Contact: Jorge Roldán

Telephone: (202) 623-3948

Email: jorgero@iadb.org