Shifting gears in Entrepreneurship

What does it mean to be an entrepreneur? Is it shuffling from gig-to-gig in an ever evolving free market economy? Is it akin to being an inventor? Is it a mindset, a dream and an idea immersed in your thoughts and you have started to commercialize? Does it begin when you close your first sale…

UNDERSTANDING DIFFERENCES BETWEEN DEBT & EQUITY

As a small business owner, Melba manufactures homemade all-natural fruit and vegetable punches and currently sells them to two health stores in her local community.  Increased demand for her product has encouraged her to expand her business to ramp up distribution to include a popular supermarket chain. In order to do so, Melba requires capital…

Product Pricing strategies and tactics

In the world of business, pricing is a very important component of marketing. This is because the pricing of your product can either make or break your business. Learning how to create a competitive product pricing strategy is crucial, especially if the goal of your marketing plan is to increase market share and survive in…

The Business of Goat Milk

Launching any business locally, and in particular, a food business is no easy feat. One based on goat milk however, some may say is a huge risk, especially when faced with large scale competitors such as Nestle and Moo Milk, whose share of the market is substantial and well established. Entrepreneurs face many challenging steps:…

Corrosion Matters – how it really works

Corrosion is something that occurs all around us, all the time and in all environments and if there is no plan in place, then corrosion can cost you a lot more than money.  But what exactly is corrosion?  According to NASA, corrosion can be defined as the degradation of a material due to a reaction…

The Local Mobile App Industry

The market for smartphones and mobile apps is a closely related market, moreover, with Trinidad and Tobago and other English-speaking Caribbean islands being tiny domestic markets for mobile app developers, internationalization is a key strategy for mobile app ventures looking to scale up. Research firm Gartner estimates the total number of mobile app downloads globally…

3D Printing- The Future of Education

The ability to solve real problems in the physical world is one of the key strengths of 3D printing i.e. reimagining manufacturing. 3D printing gives us the unlimited ability to design, test and engineer with hands on exposure to additive manufacturing, and gives us an advantage at the dawn of the next revolution in digital manufacturing. This contributes to…

UNDERSTANDING THE IMPORTANCE OF ENGINE COOLANTS

The Caribbean Industrial Research Institute (CARIRI) is a research and technological organization that is committed to the development of innovative ideas, products and services locally and regionally.  As part of CARIRI’S strategic thrust to more substantively contribute to the achievement of the national developmental goals of economic diversification and sustainability, the Institute has been turning…

New Business Idea: Oyster Mushroom- The Top Fungi

Oyster mushroom (mushroom species Pleurotus ostreatus) gets its name from an uncanny resemblance to fresh-shucked oysters. Oyster mushrooms can usually be found growing on dead or decaying wood or on organic material like sawdust and straw and are classified as a fungus, similar to other mushrooms. Oyster mushrooms caps which are shaped like fans or…