Limited access to finance and barriers to entry in male-dominated fields are just two of the many obstacles for Caribbean women entrepreneurs, whether they’re based in their home countries or the diaspora. However, some women are able to overcome these challenges and successfully build flourishing businesses.
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Here leading Caribbean women in business share four tips for women entrepreneurs who want to overcome these obstacles and grow their businesses both locally and internationally.
Know yourself and your niche.
Jamaican Lauri-Ann Ainsworth, CEO of the Branson Centre of Entrepreneurship Caribbean, encourages women entrepreneurs to take some time for self-discovery, introspection, and recalibration.
Once you know who you are, then you are best equipped to decide the market you are most suited to serve. This, she emphasizes, is the baseline for a sustainable business model that grows through passion and purpose.
“It is particularly important for women leaders to understand their zone of genius and master their strengths and skills. When you understand what your strengths are, and what skills you prefer to use, then you can delegate to other people who have better skills in different areas than you do. There’s this mindset that you have to do it all, but it’s not true,” Ainsworth says.
Connect and collaborate.
According to Trinidadian Dr. Shelly-Ann Gajadhar, the founder and CEO of a US-based coaching business called Alphastute, “If you want to scale your business or enter new markets, you cannot do it alone… Identify best practices in your field or industry and create a collaboration that is mutually beneficial to achieve the desired scalability. We must rid ourselves of the competitive mindset if we are to get ahead globally.”
Lucky for us, Gajadhar says, in this day and age, a world of information is at our fingertips. Online research is the quickest way to find and connect with your industry counterparts around the world.
And you can shoot for the stars too. If you’re unable to land direct communication with experts in your field, Gajadhar suggests following them online and studying their approach to business. Connections can happen directly through speaking to someone, or they can happen virtually when you soak up the knowledge of those you admire without ever actually having a one-on-one with them.
Embrace culture and gender.
Michelle Chong is the co-founder and CEO of Honey Bun Limited, a 40-year-old wholesale bakery based in Jamaica. She is a strong proponent of fully embracing one’s cultural identity and allowing your culture to shine through in your products and services.
Once this is done against a backdrop of adherence to global standards and proper governance and planning, Chong believes the sky’s the limit for both regional and international opportunities for growth.
This is something that Chong has done quite well. Honey Bun is born, bred and still operates out of Jamaica, but has grown to export its products to the greater Caribbean, UK, and USA. While some of its baked goods are international staples, Honey Bun still sticks to its Caribbean identity with much of its branding and product choices evoking Jamaican culture.
Maintain global awareness.
Trinidad & Tobago based fashion designer, Meiling Esau is the owner of her signature line Meiling. Esau passionately believes in the importance of keeping your standards up to par with your global counterparts.
“Pay attention. Don’t relax. Your competition is not what’s happening beside you, it’s what’s happening in the world. Keep moving and be relevant, but don’t follow trends. Pivot when you have to, and don’t get caught in a time warp. Always keep refreshing,” Esau advises.
Esau has an exceptional business background, and her advice is well worth taking. She is among the most renowned designers in the Caribbean, and her label has been synonymous with Caribbean luxury for almost 50 years. Her work can be found throughout the Caribbean and the USA, and she has dressed celebrities such as Wolfgang Puck.
