Small, medium- sized businesses get advice

Branded Bunch held its inaugural event dubbed Brunch and Business Your Financial Future at the Hilton Resort over the weekend. The event which featured 25 small and medium-sized businesses offered them much needed financial advice from some of the industry’s major experts.

Founder of Bijou Media and Branded Bunch Ashley Phillips said that she decided to host the event to help business owners to understand the financial aspects of a business.

Adding that the sessions which would be conducted by marketing manager of Massy Properties Ian Donovan, financial advisor Arlene Bolden, and Winston Alleyneco-founder of City of Bridgetown Cooperative Credit Union Limited aimed to teach the small business owners the intricacies of financial planning.

“Everyone right now is purchasing the essentials, so small businesses need to find ways to redefine their brand and come up with new ideas to attract customers during this time and we are going to be touching on that in the conference today.

The thing about small businesses many of them do not sign up for the National Insurance Scheme (NIS), they do not have business bank accounts and that is because they do not know the benefits and we really want to educate them on these factors. Whether you are a small business or not you still should pay NIS, you still should have a bank account because they are benefits,” she said.
Phillips said that she noticed that small businesses in Barbados have had a myriad of challenges in the past two years with COVID-19, volcanic ash, and Hurricane Elsa.

Thus, she welcomed all of them to join her organization Branded Bunch for a small subscription fee a month.

“We cater to all small businesses whether they be small or large as we want their creativity to come out and be developed in the right way therefore, we are going to be using strategies to get small business where they need to be at. It is one thing to have a brilliant idea but it is another thing to know how to format that and bring it together so your business can be successful,” she said.

The founder of Branded Bunch and Bijou Media said that small business owners must have a cohesive brand strategy for their business.

“Plan your strategy, if you are not comfortable with what you see rebuild it and ensure you have the right strategy and go from there. A steady strategy is what you need going forward in this time.

It is very important at this time to network as you need to have a professional social media space. Right now, it is important to get out there and network on social media platforms, Instagram, Facebook, and LinkedIn, and make sure that persons know who you are and make your mark on society,” she said.

The event which was hosted at the Hilton Resort and ran from 10 a.m. to 2.p.m. allowed the invitees to have financial sessions which explained to them why they never should give up on their dreams.

Alleyne recalled the humble beginnings of COB 38 years ago. He explained that he sought to get a loan from a commercial bank and that they told him that he needed to have security for the loan and that got him to thinking that if there was an organization that allowed persons once they had proof of income to qualify for a loan, he could assist persons like himself who did not have the sureties as required back then when he applied.

Thus, he sought to redefine the financial sector by having an organisation that was not focused on profit but on ensuring working-class black persons in Barbados had an opportunity to thrive, and had an organisation that would assist them as they manoeuvre through life.

Alleyne noted that COB had moved from a mere 10 members to now having 66,000 members and grossing near half a million dollars each year.

Bolden gave the invitees positive reaffirmation, telling them that they should not see themselves as small business owners but as ambitious owners because they were on a journey to build their businesses.

“You are the catalyst for change in this economy. You guys create jobs for individuals. We know while jobs are being created money is circulating, so right now you all are the most important individuals, and you all need to understand that, so that when difficult times come you do not have to roll over and play dead,” she said.

Donovan explained to the 25 attendees the benefits of using Digi screens and told all Branded Bunch members that they would receive a substantial discount on their service when they registered.

“I am pleased to announce to all members of Branded Bunch that you guys will receive a discount when you sign up to advertise with Digi screens. Advertising is important as people need to know what you have. You can be giving away gold but if no one knows where you are, or what you’re giving away, no one is going to come,” he said.

Phillips thanked everyone for attending the event and said that she was seeking to have another event very soon.
(Write Right PR Services)