The Blue Economy is the Key to Financial Growth in Caribbean Nations
Caribbean nations and their entrepreneurs are being encouraged to do a deep dive into the ocean economy, which is also nicknamed the “blue economy”, according to Reuters.com. The Caribbean’s island countries feature 80 times more water than land mass and offer so many ocean-based business opportunities. However, outside investment is typically needed to leverage the blue economy to the fullest. When more financing is secured, it will be possible to develop blue economy niches that hold great promise, including marine biotechnology and ocean renewable energy. According to a director at the World Bank, the blue economy is the key to economic growth in the region.
How Entrepreneurs Attract Financing
Caribbean business people who want to attract “blue economy” financing will need to do the right things. According to the Worldbank.org website, the current high debt level in many Caribbean nations is a problem and it is related to a host of factors, including low productivity, high logistics costs, weak competitiveness and low skill levels. Entrepreneurs who are interested in leveraging the blue economy by starting their own marine-related companies, with a little help from investors, should ensure that their business plans and projected budgets highlight high productivity, reasonable logistics costs, stronger-than-average competitiveness and high skill levels.
Angel Investment May Be an Option
According to the Link-caribbean.org website, investment facilitation is available through LINK-Caribbean. LINK’s program is designed to make it easier for early stage investment to happen, by linking entrepreneurs with the RAIN (Regional Angel Investor Network). In case you’re unfamiliar, angel investors are wealthy people who pump cash into businesses, in exchange for ownership equity or convertible debt. If you prefer to find investors another way, be sure that they offer you certified checks or other secure forms of payment. Certified checks are fine options for accepting investment monies because they guarantee that you’ll receive the money, rather than trying to cash a check that bounces or is canceled.
The Ocean Offers Rich Opportunities
If you want to tap into a blue economy that raked in over four billion dollars’ worth of revenue back in 2012, and is predicted to grow in future years, consider entrepreneurial gambits, from fishing to offshore drilling to leisure and beyond. The sky is the limit. However, attracting investors who will provide money that helps you to achieve your business goals will require some hard work and finesse. Using the LINK program may be the ideal starting point.
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