ONE of the key outcomes in the upcoming UK Diaspora Business Week from February 26th-31st throughout London and Birmingham, is the demystification of the stock exchange. This is one of the mandates set out by the promoters CENUK (the Caribbean Enterprise Network UK).

The heads of the four regional exchanges, along with senior executives from the Caribbean’s banking and investment sectors will be present to break down in simple terms how stock markets and investments really work.

The potential benefits the Caribbean Diaspora can bring to the region, is far wider than just remittances, said St Bernard, one of the main principals of UK Diaspora Week. He believes that the estimated US$2 billion in remittances, which flows to the Caribbean annually for consumption, is just the tip of the iceberg as far as the economic potential of the diaspora is concerned.

“From our experience the first and second generations in the diaspora, have the interest and commitment to invest in their country of origin, and are also largely the ones with the disposable incomes and assets to make serious investments. The challenge is that they lack the understanding of how these investment instruments really work.

“This therefore has to be a major feature of the Inaugural Caribbean Diaspora Business Week planned for London and Birmingham,” declared St Bernard.

Other Opportunities

This road tour will see the Exchange Heads and their key investment experts engaging the entire diaspora, at various levels during the week of business activities. They also expected to engage with major related organisations such as the London Stock Exchange, international fund managers advisory firms as well as well established Caribbean businesses operating in the UK.

The Diaspora Business Week was conceived in response to the wide requests received from Caribbean descendants seeking to leverage business opportunities within the UK Caribbean Diaspora and to be connected with business opportunities within the Caribbean region.

Key elements of the Diaspora Week are seminars, workshops, discussions and joint activities to promote growth of the Caribbean as well as to encourage affiliated companies in the UK to do business in the Caribbean.

The aim is to ensure that the UK Diaspora and the Caribbean businesses work together to achieve joint business objectives such as leveraging the increasing UK interest in Caribbean cuisine, creating opportunities for introducing Caribbean fashion and design to the UK marketplace, taking advantage of the Caribbean brand to cement joint ventures and partnerships.

“We hope that Diaspora Business Week will alert our people to the finance-raising opportunities offered to Small and medium-sized enterprises (SMEs) who list on the Junior Stock Exchanges in Jamaica and the main markets in Trinidad, Barbados and the OECS countries. During the week, executives from the Caribbean stock exchanges will highlight the huge success of this growing market. For example in Jamaica the JSE has enticed 12 companies to list on the Junior Exchange since its launch in April 2009. The Junior Exchange is now capitalised at J$21.29 billion (£152 million). One of the great attractions of this market is the tax holiday — which is structured as a 100 per cent waiver up to five years and 50 per cent for another five.

This event will be a vehicle SMEs to spur growth, development and awareness, create better business opportunities and to engage the wider UK diaspora to expand into the Caribbean market and vice versa.

ACTIVITIES:-

— Official Launch of Diaspora Week at Jamaican High Commission (Patron)

— Meeting Reception and the Trinidad and Tobago High Commission

— Meeting/Reception at the Barbados High Commission

— Meeting/Reception host by the OECS – Grenada, St.Lucia etc.