Some Dominican companies are seeking ways to merge and collaborate with each other in an effort to strengthen their businesses.
This, as the Dominica Association of Industry and Commerce (DAIC ) hosted its first-ever Business Sustainability Symposium which represented the second edition of its Business Recovery Exposition held in 2018.
Executive Director of DAIC, Lizra Fabien, told Dominicanewsonline (DNO) that after Hurricane Maria, DAIC realized that many Dominican businesses were significantly affected, therefore, the recovery exposition was to assist persons on ways to recover and improve their business. However, Fabian said, they saw the need to change the dialogue from just recovery of businesses by always “bench-marking” companies on Hurricane Maria and to begin looking at ways to grow and sustain businesses.
The symposium was held on December 12, 2019, in partnership with the United Nations Office of Disaster Risk Reduction (UNDRR), under the theme – ‘Grow, Sustain and Impact’, at Cabrits Resort & Spa Kempinski Dominica. It included public and private sector businesses all over Dominica.
The first of four panel discussions focused on business beyond recovery and practical implications for growth, sustainability and scaling impact.
Fabian said this panel produced different perspectives business executives such as the generation manager of Dominica Electricity Services Ltd. (DOMLEC), Dave Stamp and founder of Jungle Bay Dominica, Sam Raphael.
“We also looked at the challenges that some of the businesses had to overcome, post-Hurricane Maria but also what suitability strategies and action points that they include as part of their operations,” Fabien said.
Other topics that were discussed were decisions some companies took to scale their business post-Hurricane Maria and ways to build and optimize partnerships so persons can strengthen their business.
For the second session, there was a presentation by the CEO of Climate Resilience Executing Agency of Dominica (CREAD), Dr. Pepukaye Bardouille, on enabling climate resilience within Dominica’s private sectors and for the third session, insurance as a competitive advantage was discussed where attendees gained a better understanding of important aspects of insurance.
“The final presentation [Session 4] was on optimizing technology for business sustainability and some solutions that are available to improve our data management and security so that our businesses can manage that part so that they would reduce disaster risk,” according to Fabien.
Two other Dominica-based companies, SOL EC.Ltd and Tropical Shipping presented on the steps that they had taken to ensure that they remain sustainable and to continue serving their customers in the future.
Fabian said participants were happy for the opportunity for businesses to engage and partner with one another and said that the symposium was very engaging and impactful.
She said connections have already been made between companies who attended to find ways to merge and collaborate together.
Fabian hopes that organizations will implement keynotes that they received at the symposium within their business as they take the necessary steps to improve their companies.