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Caribbean Business Enterprise Trust Inc.
Chairman - Sir Neville Nicholls

If we continue to pursue the traditional areas of economic activity, trade liberalisation will continue to devastate the economies of small countries such as those in the Caribbean. On the other hand, the new global economy presents opportunities for small states which have the potential to exploit human capital development and information & communication technologies. For the first time, therefore, small states can vie to be on an equal base with industrialised countries.

In 1998, the Caribbean Development Bank had the vision to mount a consultancy with a mandate to pursue alternative economic strategies for development in the small states of the Caribbean. The focus was on the development of intellectual capital related services which linked Caribbean supply and brand with global niche market demand. The outcome of this consultancy has been the establishment of a group of companies led by a Charitable Trust, the Caribbean Business Enterprise Trust Inc., with a mission to "Facilitate the generation of business ideas and the promotion of business success in order to stimulate and sustain rapid global niche market growth for small state economies." The initial sponsors of this private sector led thrust are three Central Banks, three commercial Banks and five regional social partner entities.
CBET promotes seven innovative Business Drivers which are designed to address all of the constraints to new enterprise development in small states.

CBET is predicated on the premise that it will be financially self-sufficient after an initial period of two to three years. However, during that period, CBET will be establishing strategic alliances with the public sector and donor community to provide the appropriate mobilisation and development funding while, at the same time, preparing business plans for new and re-engineered enterprises which would attract investment from the private sector.

It is envisaged that the CBET model will complement existing initiatives which are focused on rapid economic growth.
I appeal to all those interested in the development of small states to work along with us as we address this important need at this time in our history.

Neville V. Nicholls, Chairman (Jan 2002)

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