Businessuite Women
7 Reasons Why Now is the Right Time to Start Your Business
If running your own business has been on your mind for a long time, and your great ideas are waking you up at nights, now is the best time to start your business. The possibility of taking charge of your time and your future is now greater than ever, given the advances in technology, convergence, globalization and social media.
Here are seven reasons why now is the best time to start your own business:
1. User-friendly technology
New technologies and open innovation have disrupted traditional approaches to business, driven down costs, and provided greater access to customers. Web 2.0 and social media have transformed communication and business processes through an emphasis on collaboration, user-generated content, and networking. This growing connectedness and networking are driven by major developments in interactive media and the increasingly active role of consumers in creating content on behalf of brands. Technology facilitates easy access to everything entrepreneurs need for their start-up, including logo design, website creation, accounting services, stock management, coaching and consulting services. In addition, the cost of hardware has fallen significantly, making it easier than ever to access hardware such as smartphones, tablets, and personal computers. Collectively these developments have leveled the playing field for small businesses.
2. Open markets for products and services
Technology advancements have given rise to the internet, which has ushered in a new era of open markets. Businesses now have access to suppliers, services, and customers from across the globe. The access to translation services makes it possible to communicate and do business with anyone, anywhere in the world, without learning the language. However, if you want to learn the language there is technology to help you do that too. Social media and omni-channels facilitate targeted marketing of products, services, and anything that an entrepreneur has to offer. The rapid disappearance of traditional barriers and the emergence of wide open markets give entrepreneurs the opportunity to leverage their ecosystems, expand their customer base and operate on a global scale.
3. Multiple sources of funding
Access to funding has always been one of the greatest problems for entrepreneurs seeking to start or advance their business. Access to capital was always reserved for those with influence, the wealthy and connected. Now entrepreneurs have access to multiple sources of funding including:
• Angel Investors – where individuals investors provide the funding for start-up.
• Family and Friends – who use their savings and profits to provide start-up capital.
• Small Business Loans – where government agencies provide subsidized loans for businesses at low-interest rates.
• Small Business Grants – where government agencies provide grants for small businesses and entrepreneurs.
• Venture Capital – where investors provide the start-up funding for small businesses that show potential for long-term growth.
• Crowd Funding – Where entrepreneurs raise small amounts of money from a large number of people using the internet. Popular crowdfunding platforms include:
o Kickstarter – for people in the arts – authors, musicians, filmmakers.
o SoMoLend – debt-based investment funding for small businesses.
o Crowdfunder – which provides a combination of donation and investment funding for small businesses.
4. Increased support for entrepreneurs
There is increasing recognition, across the globe, that entrepreneurship and small businesses play an important role in economic growth. As such, there are improved regulations, and increasing support from governments and international agencies to help small businesses thrive. It is now easier than ever for entrepreneurs to register their businesses, to file their returns, and access funding. In addition, agencies such as the Small Business Association and the Chamber of Commerce provide significant support and mentorships for SMEs.
5. Your job provides no guarantee for future employment
Technology has created many great opportunities and many new jobs, but technology has also disrupted the traditional job market putting many out of jobs and threatening many more. It is great to have a career but in an era of disruptive technologies, mergers, and takeovers, a job should not be your only strategy for generating income. Multiple sources of income are necessary for your multiple streams of bills and expenses. Starting your own business could provide the security you need, provide an additional income stream, and the path to true financial independence.
6. There is help all around
Whether you believe it or not there is a lot of help available to help you to start, manage, and grow your business. There are consultants for everything you need – management consultants, tax consultants, marketing consultants and many more. In addition, there are business mentors and coaches that you can hire to provide the guidance you need to increase your chances of success. There are also people in your life and your network who are potential mentors, who will provide valuable guidance for your business, at no cost. In addition, there are many talented people who are looking for meaningful engagement who can help you with your start-up at reasonable rates including retirees, students, and those looking for new opportunities.
7. There are many potential partners
As an entrepreneur, sometimes it seems more efficient to go it alone because no one else has the passion for your venture. However, you do not have to go it alone. There are many like-minded entrepreneurs that are looking for partners. In the words of Dr. Duchess Harris, guest speaker at my recent graduation, “find your crew.” Find partners with integrity, and who are passionate, result oriented, and hard-working, because it takes more than one person to achieve true success. Never be a one woman or a one-man show!
Last Word
If you are reading this article, it is a good first step but it is not enough. Identify where you are now, where you want to be in the next six months and create a plan to get there. Overcome your fear of moving forward and take the first step. Stop being afraid of what may go wrong and focus on all the things that could go right. Consider the opportunity cost of not moving forward. Consider what you could gain from starting your business now.
Time is precious, and the time is right. In the words of Will Smith, “God placed the best things in life on the other side of terror; on the other side of your maximum fear are all of the best things in life.” If you wait for the perfect time, you will wait forever. Make the Decision. Start Your Business!
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Dr. Elaine Williams-Morgan is a Media & Management Consultant, Entrepreneur and Business Educator. She is Director at Your Business International and Nex-G Media, and blogs about Innovation, Social Media and Entrepreneurship. You can find her posts at Focus on innovation with Dr. Elaine Williams-Morgan and at YourBusinessinternational.com Follow Elaine on Twitter @DrElainea and on Facebook.
In the wake of her father Kingsley Cooper’s passing in June 2024, Safia Cooper has stepped into the role of Managing Director of Pulse Investments Limited, a company listed on the main market of the Jamaica Stock Exchange. With a rich background in marketing and a deep connection to the company’s legacy, Safia is poised to lead Pulse into its next chapter.
A Legacy Continued
Safia’s journey with Pulse began in earnest in 2012 when she joined as Director of Sales and Marketing. Her prior experience included managerial roles at Red Stripe Jamaica and Diageo Brazil, where she honed her skills in brand management and strategic marketing. She holds a BSc in International Relations from the University of the West Indies and an MBA from Nova Southeastern University.
In 2016, Safia was appointed CEO of Pulse, marking a significant step in the planned succession from her father . Her leadership has been characterized by a focus on expanding Pulse’s hospitality and leisure segments, including overseeing events like Caribbean Fashion week and the Caribbean Model Search Finals.
Navigating Challenges
The transition in leadership coincided with a challenging financial period for Pulse. The company’s revenue for the financial year ending June 2024 was $815.9 million, down 14% from the previous year. Net profits also declined to $543 million from $1.43 billion in 2023, impacted by impairments and restated financials.
Despite these hurdles, Safia has demonstrated resilience and a commitment to transparency. She acknowledged the financial challenges, noting the company’s efforts to address asset impairments and focus on recoverability of credits, particularly from media houses with reduced activity.
Vision for the Future
Under Safia’s leadership, Pulse continues to emphasize its core areas: fashion, media, and real estate. The company is advancing projects like Pulse Homes, a 30-unit eco-friendly residential development in Stony Hill, aimed at high-net-worth clients . Additionally, Pulse maintains a diverse portfolio, including model agency representation, show production, and property rentals.
Safia’s approach blends respect for the company’s storied history with a forward-looking strategy. Her tenure is marked by a dedication to innovation, strategic growth, and honouring the legacy established by her father. As Pulse navigates the evolving landscape of the creative industries, Safia’s leadership is central to its continued success.
In summary, Safia Cooper embodies the fusion of tradition and innovation, guiding Pulse Investments with a vision that honours its past while embracing the future.
Businessuite Women
Corporate Movements: Margaret Campbell Appointed CEO of GKMS Group; Lee-Anne Bruce Named COO
GraceKennedy Limited (GK) is pleased to announce leadership changes at GraceKennedy Money Services (GKMS) as part of its ongoing succession plan and strategic talent development and deployment.
Effective April 1, 2025, Margaret Campbell will assume the role of Chief Executive Officer (CEO) of the GKMS Group. Campbell, who has worked with GKMS for over 25 years, has served as its Chief Operating Officer (COO) since 2020. She joined GKMS in 1996 and has held several leadership roles during her tenure including, Financial Controller, Chief Financial Officer (CFO), and Country Manager for GKMS Jamaica. A Fellow Certified Chartered Accountant, Campbell also holds an MBA in Finance from the University of Manchester and serves on several GK subsidiary boards. She is also the current President of the Jamaica Money Remitters Association.
Frank James, Group CEO of GraceKennedy, expressed confidence in Campbell’s leadership, stating, “Margaret has demonstrated strong leadership and an unwavering commitment to providing exceptional value and convenience to our customers across Jamaica and the wider Caribbean, in keeping with our vision of being the number one Caribbean brand in the world. I have no doubt she will continue to drive GKMS forward.”
Grace Burnett, CEO of GKFG, added, “Margaret’s industry expertise and strategic approach make her the ideal person to lead GKMS into the future. Her experience and passion for operational excellence will be instrumental as GKFG continues to grow and evolve.” The announcement of Campbell’s appointment comes as Burnett, who has led GKMS since 2019, prepares to retire from GraceKennedy later this year.
Lee-Anne Bruce
Additionally, GraceKennedy has named Lee-Anne Bruce as the new COO of the GKMS Group, also effective April 1, 2025. Bruce holds a bachelor’s degree from the Frank G. Zarb School of Business at Hofstra University and is a Certified Anti-Money Laundering Specialist. With over a decade in senior leadership roles at GK, she has served as Group Chief Compliance Officer, Chief Risk Officer, and most recently, Chief Audit Executive. She began her career at GK in 2003, when she played a key role in GKMS’ expansion into the Eastern Caribbean.
Margaret Campbell, incoming GKMS CEO, welcomed Bruce’s appointment, stating, “Lee-Anne is no stranger to GKMS and her extensive experience and understanding of our business will undoubtedly be invaluable in her new role.”
In light of the leadership changes at GKMS, Judith Chung, Group Chief Compliance Officer & Senior Legal Counsel, will act as Chief Audit Executive of GraceKennedy Limited, while Jason Bailey, Head of Risk, will temporarily assume responsibility for the Compliance portfolio.
Businessuite Women
GraceKennedy Limited (GK) Announces Additional Leadership Changes
These leadership changes align with the Company’s commitment to fostering a performance-driven culture while promoting innovation and consumer centricity.
GraceKennedy Limited (GK) has announced key leadership changes set to take effect in 2025 as part of the Company’s succession plan.
Effective February 14, 2025, Andrea Coy will assume the role of CEO of GraceKennedy Foods, a move which will see the integration of the domestic and international segments of GK’s food division under a single leadership structure.
Since joining GraceKennedy in 2005 as Hi-Lo’s Financial Controller, Coy has held several key leadership roles within GK, including General Manager of Hi-Lo Food Stores and World Brands Services, CEO of Hardware & Lumber, Senior General Manager of the GK Foods Global Category Management Unit, and CEO of GK Foods Domestic. She has led GK’s international food operations since 2018 and is a member of the GK Executive Committee. Under her leadership, both GK’s domestic and international food businesses recorded significant growth in revenues and profitability. Coy holds degrees in Accounting from the University of the West Indies and is a member of the Institute of Chartered Accountants of Jamaica. She specializes in Turnaround Management and has completed advanced studies in the field at Harvard Business School. She serves on the Board of the Bank of Jamaica.
Later this year, following a distinguished 25-year career at GK, Grace Burnett will retire as CEO of the GraceKennedy Financial Group (GKFG), effective August 14, 2025. Upon her retirement, Steven Whittingham, the current Deputy CEO of GKFG, will step into the role of CEO, ensuring a seamless transition in leadership.
Grace Burnett
Burnett joined GK in 2000 and has held several key leadership roles within the Group. She previously served as Managing Director of GK General Insurance and Allied Insurance Brokers, where she led strategic operations for GK’s insurance business. From 2014 to 2019, she was the CEO of GK’s Insurance Segment, driving growth and innovation in the sector. An attorney-at-law, she has been the CEO of GKFG since 2016 and holds the position of the President & CEO of GraceKennedy Money Services. She is also a member of the GK Executive Committee. Well-known for her expertise in customer service, operations, and talent development, Burnett has earned accolades both within GK and externally. Her outstanding contributions to the insurance industry and exemplary leadership were formally recognised in 2024 when she received the prestigious Insurance Association of Jamaica Leadership Excellence Award.
Steven Whittingham
Whittingham joined GK in 2013 and has been Deputy CEO of GKFG since 2022, overseeing the Group’s Insurance Segment, merchant banking, and investment portfolios. He is a member of the GK Executive Committee and leads GK’s digital transformation. He has held various leadership roles within GK, including Chief Investment Officer of GraceKennedy Limited, Chief Operating Officer of GKFG, President of First Global Financial Services and Managing Director of GK Capital Management. During his tenure he has been instrumental in driving GK’s expansion through strategic mergers, acquisitions, and greenfield startups, consistently delivering impressive growth across portfolios. Whittingham holds dual degrees in Systems Engineering and Economics from the University of Pennsylvania and an MBA from Harvard Business School. In 2024 he was appointed Chairman of the Jamaica Stock Exchange, and he has served on several public and private sector boards.
These announcements come as GK prepares for another major leadership transition later this week. Last month, the Company confirmed that Group CEO, the Honourable Don Wehby, CD, OJ, will retire on February 14, 2025, stepping down from the Board of Directors after a distinguished tenure.
He will be succeeded by Frank James, current CEO of GK Foods Domestic and former Group CFO. GraceKennedy remains steadfast in its commitment to executing its strategy and ensuring excellence across all its operations.
These leadership changes align with the Company’s commitment to fostering a performance-driven culture while promoting innovation and consumer centricity. As the GK team strives to achieve its vision of becoming the number one Caribbean brand in the world, these appointments will provide continuity and strategically position GraceKennedy for sustained growth and innovation in the years ahead.
Businessuite Women
The Rise of Female-Led Companies in the Caribbean: Driving Business Success and Breaking Barriers
The corporate landscape in the Caribbean is experiencing a transformative shift as more women assume leadership roles, enhancing company performance and fostering diverse, inclusive work cultures. This trend is not only contributing to breaking the corporate glass ceiling but is also producing measurable business success. Studies reveal that female-led companies tend to outperform their male-led counterparts, benefiting from unique perspectives and leadership approaches that drive innovation and resilience.
One such example is Audrey Tugwell Henry, President and CEO of Scotia Group Jamaica Limited, who has championed initiatives supporting women-led businesses through programs like the Scotiabank Women Initiative in Jamaica. This initiative aids women entrepreneurs and business owners with access to financial resources, networking, and mentorship, crucial for enabling their businesses to thrive. Under Henry’s leadership, Scotiabank has established the Caribbean Inclusion Council, focusing on fostering diversity and supporting the advancement of female professionals across the region. Henry’s involvement in the Scotiabank Caribbean Network’s Mentorship Program also highlights her commitment to nurturing future leaders, reinforcing a culture where female professionals are equipped to break through barriers in corporate leadership.
Melanie Subratie, Chairman and CEO of Stanley Motta Limited, has also made strides by assembling the Caribbean’s first all-female board of directors, a move that exemplifies female empowerment in the region. This leadership model helps to combat stereotypes and serve as a beacon for other companies.
A recent S&P Global study corroborates the advantages of female leadership, finding that companies led by women experience greater stock price appreciation and improved profitability. This impact is not isolated to the Caribbean; internationally, firms with gender-diverse boards and executives often see benefits like better financial returns and more robust decision-making, attributed to the inclusive perspectives women bring.
The broader Caribbean is seeing more female executives shaping policies that foster inclusivity and drive long-term business success. For example, across the Caribbean, there has been an increase in programs and policies that promote gender equality on boards, a trend aligned with research by the World Economic Forum indicating that companies with a greater share of female leaders tend to outperform their peers in productivity and innovation. As these leaders pave the way for upcoming generations, they provide valuable mentorship, reinforcing a sustainable talent pipeline that will likely benefit the Caribbean’s economic and social development.
With the region’s growing emphasis on female representation, Caribbean businesses are well-positioned to leverage the diverse insights women leaders bring. This shift holds promise for not only driving business growth but also creating a legacy of equality and opportunity in the region’s corporate framework.
Businessuite Highlights A Few Of These Female Business Leaders Driving Business Success And Breaking Barriers
Melanie Subratie: Visionary Leadership at Stanley Motta Limited
As the Chairman and CEO of Stanley Motta Limited, Melanie Subratie has driven a unique transformation in commercial real estate, spearheading growth that emphasizes technological advancement and sustainable infrastructure. Melanie’s leadership portfolio spans various sectors, holding high-level roles across numerous companies, including Musson (Jamaica) Limited, Seprod Limited, and PBS Group. Her guidance has established Stanley Motta as a key player in business process outsourcing (BPO) with 58 HWT, one of the Caribbean’s largest technology parks.
Stanley Motta’s recent performance reflects her strategic vision: the company reported a 95.8% increase in Net Operating Income, reaching J$1.86 billion, and total comprehensive income rose by 111.2% to J$1.77 billion. Shareholder equity grew 26% to J$7.66 billion, and the market capitalization stood strong at J$4.08 billion at the end of 2023. This robust financial position signals the company’s ongoing success and its potential for further expansion under Subratie’s direction. Moreover, with an all-female board that includes experts like Blondell Walker and Sandra Glasgow, Stanley Motta is a trailblazer in championing gender diversity in corporate leadership.
Anya Schnoor and Audrey Tugwell Henry: Strengthening Scotia Group Jamaica Limited
Anya Schnoor, Chair of the Board of Directors, and Audrey Tugwell Henry, President and CEO, are redefining leadership at Scotia Group Jamaica Limited (SGJL). With over three decades in the financial sector, Schnoor’s strategic vision has been essential in aligning SGJL with global standards, positioning it as a premier financial institution in the Caribbean. Tugwell Henry, with a strong focus on empowering women, spearheaded the Scotiabank Women Initiative, providing crucial support for women-led businesses.
Under their leadership, SGJL’s financial results for the year ending October 31, 2023, are impressive. Net income rose by 67% to J$17.2 billion, a testament to their operational efficiency and risk management. SGJL continues to invest in digital innovations, with initiatives such as the improved Online Banking platform and Q-Flow automated queuing system, enhancing customer experience. With a productivity ratio of 49.81% and a Return on Equity of 15.15%, SGJL’s commitment to shareholder value and operational excellence is evident. The recent launch of Scotia Protect, a digital-first insurance subsidiary, marks a new chapter for SGJL, aligning with the bank’s strategy to diversify services and deepen its market reach.
Daniela Bucaro and Ginelle Lambie: Navigating Growth at Unilever Caribbean
Daniela Bucaro
At Unilever Caribbean, Daniela Bucaro, Chair, and Ginelle Lambie, Managing Director (Ag.), are leading an ambitious shift towards profitable growth amidst challenging market conditions. Bucaro, a marketing expert, and Lambie, a seasoned finance professional, bring a balanced leadership approach that addresses both consumer insights and financial resilience. Under their stewardship, Unilever Caribbean has focused on expanding its Beauty and Personal Care line, which now accounts for 52.6% of total revenue—a significant increase from 39.8% in the previous year.
Ginelle Lambie:
Despite a 20.1% decline in revenue due to economic pressures, Unilever Caribbean achieved a 393.5% increase in Profit Before Tax, reaching $26.5 million. Cost optimization measures improved operating margins to 12.4%, underscoring the team’s commitment to sustainable, profitable growth. Unilever Caribbean’s dedication to delivering shareholder value is evident, with total dividends reaching $0.56 per share, supported by a robust cash reserve and favorable retained earnings.
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