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Home Publications Columns

DOING BUSINESS IN THE CARIBBEAN How to conduct business affairs and how to improve them

February 11, 2020
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by Kay M Ferguson

Monday, 3 February 2020 (North Side, Anguilla) — Last week, I had an experience with a local business owner that caused me to reflect about doing business in the Caribbean. Do I really want to continue taking freelance assignments working in this region or elsewhere in the world?

Being a freelancer means I work independently. I’m accustomed to performing tasks before getting paid in full for services rendered. People who are self-employed or operate their own businesses – as entrepreneurs, creative thinkers and doers – often run the risk of not receiving payment for their services. When individuals are employed by someone else, there are normally guarantees set in place to ensure employees receive salaries or wages. Employees aren’t concerned whether or not business owners have funds to pay them. They just assume the money will come.

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It’s quite different when one ventures out on her/his own, exploring opportunities to earn an income by use of one’s own skills, expertise and experiences. Whether working in the USA, or Anguilla, I find there are certain individuals who lack truth, honesty and integrity in meeting their financial obligations and conducting business according to standard operating procedures utilised internationally – and which I implement.

As a practised professional, I received the majority of my training in the work force when I resided in Washington, DC, and Maryland. At that time, one had to be at the top of the game, cream of the crop, in order to be hired and to stay employed. Throughout my long career, even with full-time employment, I have volunteered my skilled services on a freelance basis to help others build their businesses and complete a variety of projects. I handled an assortment of tasks covering a range of areas within government and private sector businesses. I’ve worked for small minority-owned businesses, large corporations, government agencies, contractors, and individuals in a sundry of locations from North America to Europe, in the Caribbean, South America and the Pacific Islands. So, I have a wealth of knowledge and experience in conducting business affairs.

A common thread I’ve found, whether working in the Caribbean or USA, is people want others to work for free or at reduced prices. They don’t always want to pay according to skill level and expertise. This behaviour crosses all lines and isn’t just associated to one particular group, region or nation. Though it may seem mostly that some folks behave in this manner, I’ve seen it happen with individuals from various ethnic groups, religions, nationalities, political systems and socio-economic status. What makes us not want to adequately compensate persons for their services rendered?

What causes us, as souls in human forms, to conduct business the way we do? Is it our upbringing, personalities, faith or other contributing factors? In my particular case, I say it’s all of the above. I am a person who firmly believes in fulfilling financial obligations. I pay my bills in a timely manner and notify who I owe money to, if I am unable to pay in full or will be delayed in paying. As a self-taught person, I know how to budget my income and manage spending, so I don’t over extend myself by purchasing what I cannot afford. This is how we need to conduct our business affairs.

When we are transparent, honest and truthful, people can trust and depend on us whether in business or other areas of life. When we act like a professional, those we serve receive excellent customer service. When we pay promptly what is rightfully owed to service providers, we build good client/customer relations. When we openly discuss terms of service and negotiate reasonable fees, customers/clients return for repeat business. When we keep all of the business partners informed of what is going on within the company, we eliminate any discord. When we conduct business in a manner that upholds integrity and ethics, what we give out comes back to us – sometimes tenfold and when least expected.

If we wish to thrive in our business affairs, I recommend following the ways mentioned above when conducting business. Then, we will have a better chance of rising above the fray of deceit, deception, lies and misconduct that are so prevalent in today’s society – and we will show the younger generations how to behave accordingly. May God help us to evolve in life’s essential spheres.
_____________

Kay M Ferguson is a conscious writer, who writes under the nom de plume Empress Extraordinaire, composing words to enlighten and uplift humanity. Connect with her on social media—Facebook and LinkedIn or email anguillawriter@gmail.com.

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