Woman at work

Access to markets is essential for an enterprise to be successful. Thus it is important that microenterprise programmes help microentrepreneurs increase their sales profitability by building and or collaborating in creating specialized networks of their clients' businesses, especially in industries where microenterprises are flourishing. These industries, also referred to as "sectors," include specialty foods; jewelry; arts, crafts and gifts; clothing and textiles; furniture; computer technology; daycare; and environmental products and services such as recycling. Access to market services can include: sophisticated training on marketing and sales concepts; development and distribution of joint catalogs; Internet access and e-commerce; participation in trade shows; and innovative concepts like incubators, for example business, technology and kitchen incubators.

Low-income entrepreneurs can greatly benefit from increased knowledge of the benefits of banking and savings principles. For example, entrepreneurs need to learn the importance of establishing checking accounts and savings accounts, like Individual Development Accounts (IDAs); the importance of establishing a credit rating and, in many instances, learning about credit rehabilitation. They need to understand the importance of tax laws and other regulatory issues; the importance of sound accounting principles and types of insurance, etc

Related Links

Caribbean Community (CARICOM) Organization of Eastern Carribean States