Sort results by:
Search results for : Marketing Solutions
Showing 1 to 10 of 134 results
The managing director of Bank of The Bahamas (BOB) revealed an Internet banking network for businesses is ahead of schedule and could roll out in the next month.
Paul McWeeney said BOB is working "heavily" with its credit card processing entity and is testing the system for business accounts. He told Guardian Business that the trouble-shooting process has gone faster than anticipated.
In late February, McWeeney speculated it could be six months before BOB launches its e-commerce initiative. It now appears the bank may accomplish this feat in half the time.
The announcement comes shortly after a recent presentation by BOB at the Bahamas Hotel Association's (BHA) annual general meeting.
McWeeney said hoteliers and other tourism stakeholders are excited about the release of the e-commerce service and are taking advantage of the opportunities the Internet has to offer.
"It will be a first for the country in terms of a service for the Bahamian market," he said. "The BHA is particularly excited about the opportunities for smaller hotels. A number of other wholesale clients are also interested in applications for the network of retail stores they represent. It opens that part of the world to entrepreneurs here and makes business more efficient."
The managing director is also planning a seminar with the Bahamas Chamber of Commerce and Employers Confederation (BCCEC) once the service is ready to go.
He noted the e-commerce initiative is part of BOB's long-term strategy to improve non-interest revenue, with less focus on interest revenue to drive the bottom line.
Stuart Bowe, the president of the BHA, told Guardian Business that many of the smaller hotels, particularly on the Family Islands, are not realizing their booking potential because consumers cannot book transactions online with a credit card.
The absence of a Bahamian-based bank with infrastructural support, along with high fees by travel agents and inconsistent or unreliable telecommunications services, have prevented these businesses from achieving full growth.
"Bank of The Bahamas representatives have presented solutions to the first two issues," Bowe said.
"Coupled with an online booking solution that the Ministry of Tourism is working on, we're confident that easy and cost effective online transactions are imminent."
According to recent data collected by the BHA, the vast majority of small hotels surveyed from eight islands did not accept credit cards online. Unreliable telecommunications is also a major contributor to the problem.
Bowe told Guardian Business the BHA and the Bahamas Out Island Promotion Board (BOIPB) recently met with officials at the Bahamas Telecommunications Company (BTC) to discuss the issue.
"BTC provided a status report on the upgrade plans, and we were pleased to see the Family Island infrastructure calendar on track for installations over the next four months. It is important to note that the BTC telecommunications upgrades compliment the Bank of The Bahamas credit card solutions, as well as the Ministry of Tourism and Aviation website infrastructure necessary to facilitate online transactions," he explained.
McWeeney said the new e-commerce service will not allow prospective online retailers to just "walk in" and open an account. A screening procedure will be put in place to ensure the security of everyone involved.
Local analysts estimate Bahamian businesses are missing out on millions, if not billions of revenue through Internet sales and marketing.
NEW YORK, NY, -
Investing in the Caribbean region's tourism sector will be the focus of a
power breakfast this June, presented by the Caribbean Tourism
Organization and Hard Beat Communications, Inc., in collaboration with
the Caribbean American Chamber of Commerce and Industry.
Beat Communications, a digital media solutions company specializing in
the Caribbean and Latin American market, is teaming up with the
Caribbean's regional tourism agency and CAACI to present the Invest
Caribbean 2011 Power Breakfast on
June 9, 2011 from 7:30 to 9:30 a.m. in New York City...
In what can be described as perhaps the most daunting economic period not only in The Bahamas but globally, Bank of the Bahamas(BOB)has taken the lead in sponsoring Bahamian Economic Resiliency&the Global Economic Crisis panel discussion presented by the College of The Bahamas(COB)and Chartered Financial Analysts(CFA)Society of The Bahamas on Wednesday, March 21 at the Performing Arts Centre at the College of The Bahamas.
"This platform will present a unique opportunity for a diverse group of financial experts to facilitate dialogue on the current state of affairs of the local and global economy and offer resolutions for implementation,"shared Michael Basden, BOB's Marketing Manager."By the very nature of our business, the stability of the economy is crucial to the bank's existence. By supporting this event, the discussion is taken to the wider community. COB and the CFA Society should be commended for taking the initiative in this instance."
Areas to be addressed include protecting the Bahamian capital through exchange controls, expanding job creation through industry diversification, a 2012 forecast of the economy and the government's ability to raise funding. Panelists include Hon. Zhivargo Laing, Minister of State for Finance; Wendy Craigg, Governor Central Bank of The Bahamas; Michael Halkitis, Consultant, Financial Services&Investments of BAF; Olivia Saunders, professor at COB and Anthony Ferguson, President CFAL&the Guardian Media Group. Wendall Jones will moderate the panel.
"It has become expected that leading institutions around the world create a forum which encourages thought provoking debate and analysis which in turn plays a role in solving national problems,"said Davinia Blair, Director of Development, COB."A major national problem we're currently faced with is how we are to respond to the global economic crisis. We recognize that the solution cannot come from one direction but from all sectors including the Government, the College, regulators and industry partners."
Admission is free with advance registration by March 20 at my.cob.edu.bs. For more information call 302-4594 or email firstname.lastname@example.org.
By NEIL HARTNELL
Tribune Business Editor
Transfer Solutions Providers (TSP), the Mango card and payment systems provider, yesterday said it expected to be profitable "in another 18 months to two years", as it aims to roll-out a marketing strategy "tailored directly" to its targeted niche within the next four-six weeks.
Harvey Morris, the company's acting chief executive, told Tribune Business it was planning joint promotions with major Bahamian retailers to distribute "a significant amount of cards" to its target 'unbanked' consumers, as it "intensified" its focus on this nation.
TSP is also aiming to launch a Mobile App before year-end that will ...
Larry Roberts, SIOR and CEO of NAI Bahamas, the commercial division of Bahamas Realty Limited, is attending NAI Global's Regional Conference this week in Bogota, Columbia.
Roberts sees the conference as an opportunity for "building the commercial real estate network in the region, firming up the relationships between The Bahamas and member firms including Mexico, Costa Rica, Panama, Dominican Republic, Jamaica, Venezuela, Columbia, Peru, Brazil and Chile."
"If you want to sell Atlantis, where do you turn? You need more than a local market. So, when I gained the exclusive listing for Nassau's Union Wharf, the first thing I did was to share it over our NAI Global network. This gives local companies and properties the expertise of a gigantic global network of clients and marketing. So, no task is too big!" explains the veteran of 45 years in the real estate profession.
He adds: "NAI members are 'global in our thinking, yet local in our approach.' When you are dealing with Bahamas Realty and NAI Bahamas, our commercial division, you are dealing with the whole NAI group, the top independent realtors in 55 countries with $45 billion in transactions annually. We manage more than 300 million square feet of commercial space. But, we also know, appreciate and... can meet ...your local needs. "
Two years ago, Bahamas Realty Commercial joined NAI Global as its exclusive member for The Bahamas. The well known Bahamas Realty Commercial Division is now known as NAI Bahamas Realty Commercial giving its customers global reach in marketing and sales. NAI Global is one of the world's leading providers of commercial real estate services with a network of 5,000 professionals and 350 offices.
In Latin America and the Caribbean NAI Global is the foremost and largest Commercial Real Estate Service Provider with 33 offices in 13 countries, offering services from traditional brokerage to MAI Appraisal, Lease Administration, Portfolio Management and Audit, Investment Services, Hospitality Consulting, Logistics/Supply Chain Solutions, Project Management, Design Build and Sustainability LEED Design Consulting, among others.
Roberts adds, "Our objective for this year is for each NAI regional member to bring a need to the conference (just as we would to a sales meeting): Here is what I need, a buyer for this, a tenant for that. How can you help me? We want to instill in each member an idea of what each of the others need or can provide. We'll build relationships and our businesses."
Bahamas Realty Commercial is now NAI Bahamas Realty Commercial.
Roberts points out that NAI Bahamas Realty Commercial offers the most comprehensive portfolio of services in The Bahamas, including property sales and leasing, property management, appraisal/valuation, research and consulting.
NAI Global is based in Princeton, NJ, with 70 staff members, strategically positioned around the world. It provides management, technology, marketing and corporate services support to its members and their clients.
C-III Capital Partners LLC, the parent company of NAI Global, is a national leader in real estate services and investment management, including primary and special loan servicing, loan origination, fund management and principal investment. C-III's principal place of business is in Irving, Texas, with additional offices in New York City; Greenville, South Carolina; McLean, Virginia; Chicago and Nashville.
Freeport, Grand Bahama Island - POWERPLUS BAHAMAS will be holding a town hall meeting at the YMCA on Thursday,
March 15, 2012 at
Experts from the United States will be present to introduce the latest
in Solar and other energy saving technologies and products.
experts include: Mr. Dwight Patterson, C.E.O. of GENPRO Energy
Solutions... in the power generation market for over 15 years... designed
and developed portable solar water purification systems for the U. S.
Marine corps... received Environmental Hall of Fame Award in creating and
promoting a more sustainable community through furthering education and
project development... supplied systems for thousands of solar systems
around the world... and product integration partner for...
High-profile speakers are gearing up to deliver unique energy solutions this coming weekend, with the Energy Efficiency Forum and Exhibition in Nassau promising to bring together more than 20 presenters and an equal number of exhibitions.
Ocean Thermal Energy Corporation (OTEC) is perhaps one of the more well-known U.S. companies attending the forum.
Over the last couple of months, Guardian Business has reported two landmark deals for OTEC - the signing of a memorandum of understanding with the Bahamas Electricity Corporation, and a partnership with Baha Mar to deliver the mega-project's air conditioning.
Jeremy Feakins, the CEO of OTEC, will be sending the company's head engineer, Dr Stephen Oney, to Nassau to discuss what it can offer hotels and business in The Bahamas.
"We will be discussing sea water district cooling, how it is both environmentally friend and saves money," he explained.
"Were invited to discuss the concept. It uses up to 90 percent less electricity than conventional sources. Given a lot of hotels are close to the beach, there may be opportunities for some of these establishments to use it."
In line with OTEC's expansion plans, Feakins told Guardian Business that Oney is arriving in Nassau with an eye for more opportunities.
He pointed out that OTEC's plans to release its first initial public offering (IPO) in the new year is intended to raise capital to support it's global expansion. The funding for its current projects, he said, has already been established.
Another presenter at the conference is James Malcolm, the marketing director for Lindroth Development Company.
As the face of Schooner Bay, the rising multi-million-dollar community in Abaco, his presentation will address innovative ways to use the natural environment to achieve profitable and successful development.
Yesterday, Guardian Business revealed a new report detailing Schooner Bay's $332.8 million savings through its "ecological dividend", as coined by the top developer on the project, Orjan Lindroth.
The thrust of Malcolm's talk will be how to build in The Bahamas "without destroying the environment".
"They asked me to speak about green building technologies," he said.
"You can speak about it all day without scratching the surface. But basically I'll be talking about how to use ecology as it relates to development. I will highlight the importance of bringing in green techniques right at the beginning, at the planning and design stage."
Drawing on the Schooner Bay project as an example, Malcolm will review the history of the development and where it's going.
He will also draw on several intriguing specifics, such as the project's innovative use of geo-thermal air conditioning for homes and businesses. The system, pumping cold salt water from 400 feet underground, goes through a closed loop through houses.
When the water becomes warm, it is sent back underground.
Another new feature at Schooner is the natural cistern created by the development.
As The Bahamas continues to experience a great deal of rain over the past few days, the cistern, Malcolm said, has accumulated 9,000 gallons of rainwater.
The project intends on using this resource for agriculture and landscaping.
Malcolm and Oney will be on hand on Nov. 4 and Nov. 5 at the Wyndham Nassau Resort, providing an opportunity for attendees to learn and meet specialists in the energy efficiency and substantiability field.
Nov. 4 will be tailored to business, whereas the next day focuses on residents and businesses.
The event is sponsored by the Bahamas Chamber of Commerce and Employers Confederation, the Bahamas Hotel Association and the Bahamas Home & Builders Show.
The Ministry of the Environment, the U.S. Embassy, the Inter-American Development Bank and the Bahamian Contractors Association are all taking part and lending support.
Paul Winder has held a number of senior positions in financial services during his long career. He is a former director and head of business development at Ansbacher (Bahamas) Ltd., and prior to that he served as a managing director and member of the board of Sovereign Trust. In 2010, he became the managing director of ATC Group in The Bahamas, and he is also the chairman of the Bahamas Financial Services Board.
Guardian Business: What is the biggest challenge facing your business or sector? What measures need to be taken in The Bahamas to solve it?
Paul: Increased competition from other jurisdictions is a major challenge. However, through consultation, industry is working together to undertake collective marketing as opposed to individual institutional marketing initiative, such as the recent visit to Brazil and the upcoming Landfall Europe between the private sector and the Bahamas Financial Services Board (BFSB). Successive governments have provided industry with the products/tools and now we need to understand and market the same to our target markets.
GB: How has your business or sector changed since the financial crisis?
Paul: It has been a time of significant change, with returns being at an all-time low, investment values reduced resulting in clients needing to access savings or trust assets. This has led to certain clients having to close trust structures in order to bolster their domestic businesses or general lifestyles so they do not lose their homes. On the flip side, certain prudent investors who were able to ride the financial crisis are in a very strong position for the future. ATC Group has been in business since 1893 and has always planned for the prospect of a financial crisis, hence it's ability to weather the downturn over the past three or four years.
GB: Briefly, can you describe a life experience that changed how you approach your work today?
Paul: Moving to the Caribbean in 1995 was a large change in my life and it opened up my cultural horizons. The benefit of a cultural change is that it enables you to be more appreciative of differing approaches to business when you have a global client base, and thus more sensitive to clients and staff needs.
GB: What are you currently reading?
Paul: "Honour Thy Father", which is a factual account of an entrepreneur who struggles through adversity to establish a hugely successful business and then undertakes an estate plan to empower his children. Unfortunately once his children obtain the control they seek to ostracize him - a great read for a trustee!
GB: Has the high cost of energy hurt your business? What solutions have you initiated or considered to combat it?
Paul: Not from a business perspective, however, I installed low-energy fans at home to reduce costs and increase efficiency.
GB: What makes
a great boss?
Paul: A mentor who is willing to listen and then interprets their colleagues view points into a plan with benchmarks and deadlines in order for them to gauge the success of the installation.
GB: If you could change one thing concerning business in The Bahamas, what would it be?
Paul: With respect to the financial services, and it's interaction between government departments and industry, I would suggest providing additional resources for educational training on industry products as well as further staff in departments such as the Registrar Generals Department, which has come under criticism despite making huge strides. Increased educated staff with access to additional education and training is an investment in the future of our second tier industry in The Bahamas and should not be ignored. The Registrar General's Department, for example, touches so many different areas and with the previously mentioned resources would enable a distinct increase in the ease of doing business in The Bahamas.
GB: What keeps you grounded? Do you have any major interests other than work?
Paul: A system of checks and balances both at home and in work assist in keeping me grounded as does the fact that I learn something new everyday, and thus need to remember life is full of new experiences and knowledge.
GB: What should young businesses keep in mind in this current economic climate to survive?
Paul: Young businesses must have a clear business plan and stick to it whilst watching costs and making sure they obtain best prices for all purchases. It is important that they understand their target market and obtain the most efficient access to it through marketing initiatives, such as social media. The most important investment in any business is to invest in people no matter what the economic climate.
GB: How would you describe or classify the ease of doing business in The Bahamas?
Paul: The Bahamas in various recent reports does not fare well when it comes to the ease of doing business. I do believe that a greater investment in the people, systems, and such backing E-Government programs, will reap its rewards, as we are moving in the right direction. However, there needs to be a concerted effort by industry and government akin to our international competition.
The people, enterprises and government of Chile identified a need for greater industrial diversification in the 1980s as a means to position the economy for more stable growth. Led by investors and specialized experts, Chile established a public/private institute saddled with the task of researching specific opportunities for job creation and investment.
The government acted as a facilitator, using the recommendations of the institute to build an appropriate policy foundation and strategically organizing the country's trading relationships. The private sector acted as the implementer - buying the ideas and research from this institute to invest in profitable businesses. Chile used this institutional framework to start and develop its salmon industry, building on the experience of Norway, the world's number one exporter of salmon. The researchers tested whether salmon could thrive in Chilean rivers and lakes enough to be cultivated on an industrial scale. After having exported no salmon in the 1970s, Chile was the world's number two exporter of farmed salmon in 2010.
In The Bahamas today, our economic growth prospects are lackluster, unemployment rates are dismal and our current "tourism or nothing" paradigm is not providing the level of investment and job creation that is desperately needed.
Extraordinary action is needed to maneuver this extraordinary economic environment. I believe that this framework: widespread industrial engagement, intensive primary and secondary research, and multi-sector investment as witnessed in Chile, is a tried and proven method of economic planning and national organization that The Bahamas should consider.
Collaboration makes it happen
Looking back in time, one can find examples of national stakeholders coming together to proactively engage in economic planning when traditional solutions were elusive or inadequate.
In the United States after the Great Depression, a New Deal was negotiated between government and the private sector - a plan to provide strategic subsidies, generate private investments and relieve ailing industries. Through this plan, thousands of projects were developed, millions of jobs were created and the economy of the United States expanded substantially.
This public/private partnership made subsequent economic planning more viable because it had the support and involvement of a wide range of stakeholders. What I like about the Chilean case, though, is that the private sector was placed at the center of the stage. Throughout the New Deal, the U.S. government orchestrated its plans, but in Chile the government took a more indirect role, laying the groundwork for growth, assuring an ideal policy environment.
1. Enlist and engage business leaders and academics from finance, agriculture, tourism, economics and venture capital.
2. Use their experience, opinions and expertise to determine best areas for research.
3. Draft and publicize the key areas established as well as areas for "experimental exploration" such as salmon in Chile.
4. Allow for a variety of labor unions, industry associations, the general public and academics to criticize, edit and build on drafts.
5. Make the final draft the mission statement for the research institute.
Researching for the future Effective and ongoing research has the potential to:
o Sprout new ideas for industry.
o Help make current industries more profitable and efficient through financial, operational and technological analysis.
o Help government better understand the economy in order to facilitate more broad economic planning.
In line with Chile's experience, extensive research should underpin the process from the planning stage through to implementation. The research would ideally result in ideas for products/services, options to fund these ideas, policy recommendations for government to facilitate the ideas and detailed marketing/operational recommendations. This research institute would also produce information on consumer tastes and trends, market analysis and financial projections, etcetera - a holistic research mandate for potential producers.
Investing in innovation
Local and international investors would purchase the idea, packaged with monopoly power, government concessions and start a company based on the recommendations. Or, the institute can directly start the company and sell it afterward.
The facilitator - government - has a special role in setting up trade agreements that would support the institute's ideas. The government could also guarantee certain concessions to aid in the success of the new companies. For example, Chile started an export promotion government agency, ProChile, to build brand recognition for Chilean goods and to put the country on the radar of international investors. The same way that the Bahamian government advertises the tourism product to the world, it could support the "products" of this research institute.
The strength of the framework
o This research-oriented framework brings less obvious economic opportunities to light and to market.
o It mobilizes money and resources in an economy toward high yielding investments.
o Relies on a wide range of actors and thus brings more people directly into the policy process.
o The government can use the research institute and the process to institutionalize economic planning.
Caribbean countries invest a miniscule proportion of GDP into research and development. Looking at the performance of other emerging markets, there is a clear connection between higher levels of scientific and technological research and higher levels of economic competitiveness. The result, as witnessed in Taiwan, Hong Kong, China and South Korea has been robust economic growth.
o David Geraldo Frazer is a master's degree candidate at Johns Hopkins University studying international economics and international relations with a bachelor's degree in economics and business. He is also a freelance consultant and can be contacted at email@example.com.
Bahamas, Jan. 19, 2012 -- SkyVantage Global Airline Solutions today
announced that Kenneth Romer has been named Vice President and Regional
Director, Caribbean, effective immediately. He will report to Cory
Robin, CEO, and be responsible for SkyVantage sales, customer
satisfaction and market presence in a region that covers the Bahamas,
the Caribbean and Florida.
Romer most recently served as C.O.O.
and Corporate Consultant for SkyBahamas Airlines. Since he joined
SkyBahamas in 2009 he has held positions of increasing responsibility in
sales & marketing, training, customer experience and Corporate and
Governmental Relations. Previously, he spent more than a decade in
various key administrative roles in the Bahamian Educational and
Commercial sectors. Romer has academic and professional certifications
form The College of The Bahamas,
University of the West Indies, James Madison University and Nova
University. He is among an elite group of Certified Professional