Sunday, May 22, 2022

Alewives make strong return with improved damn technology

Sustainability efforts from fishermen and the state show their run is back and better than ever.

BENTON, MAINE, Maine — Jim Wotton and his crew of 10 prepare the day of fishing by ziplining hundreds of crates from the cliffside onto the jagged rocks below the Sebasticook River Dam in Benton, Maine.

“We come up here every day at 9 or 10 in the morning, we get ready for the day, make our orders. … The amount we catch is based on what we need for the day,” Wotton said.

Sunday is range of orders, according to Wotton. He said some of the fish they catch today will go to Canada, while others head to Maine’s many coastal communities.

“It provides a valuable resource to the fishermen of the state,” Wotton said.

He is talking about alewives

The fish, much like a salmon, returns from the ocean to lakes and ponds to spawn, but damn construction has led to dwindling populations.

But now, technology such as fish elevators make sure fish like alewives can return to spawning grounds.

The alewife serves many purposes, according to Wotton. They are used as spring bait for lobstermen, smoked and eaten by locals, and they feed the local ecosystem of eagles.

“It’s gone up and down, but the state has done a good job at managing the resource,” Wotton said.

Part of that management comes with dam technology. 

Logan Shepherd with the Benton dam operates the flume for the fish to travel through.

“It’s pretty much essential,” Shepherd said. “If this wasn’t here, the alewives wouldn’t be able to get up over the dam.”

Alewife runs are estimated to last until June. Wotton said this season is on track to be successful for the industry.

“We always have big years up here, but this year is one of the better ones. We are on track to break the record,” Wotton said.

Fishermen in Benton told NEWS CENTER Maine that if alewives continue to be in abundance, then bait prices will go down, which could perhaps bring down the local price of lobster.

More NEWS CENTER Maine stories

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Ardern’s White House Visit Hangs In The Balance

Foreign Affairs

On the day of her departure to the United States it is still uncertain whether Jacinda Ardern has secured a White House visit and meeting with President Joe Biden

The ultimate prize for the Prime Minister’s visit to the United States is a White House visit, but Covid protocols could still see it not happen.

To meet American regulations, Jacinda Ardern departs for New York on Monday evening, after officials and the media contingent went ahead on the NZDF plane on Saturday without her.

The US requires people to be 10 days past their positive test result on day of departure – that’s Monday for Ardern and has meant flying commercial at a later date.

Even stricter Covid protocols for entry to the White House have put Ardern’s plans to meet with President Joe Biden in jeopardy too.

The executive director of the New Zealand-United States Council, Jordan Small, said the opportunity would be significant if it goes ahead.

“A White House visit would be the icing on the cake. Those opportunities are rare and the chance to sit down with the leader of the free world is a valuable opportunity for New Zealand,’’ he told Newsroom.

“The White House and getting in front of the President – it’s the opportunity to push New Zealand’s case across a number of areas with the person in charge,’’ Small said.

Even without an official face-to-face meeting, he said the relationship was advancing well.

“It’s at the strongest point it has been for years.

“The ability to get in front of someone and exchange ideas and thoughts and perspectives – you can’t undervalue that,’’ he told Newsroom.

While the timing of the Prime Minister’s trip has been guided by her invitation to speak at the prestigious Harvard University, confirming a meeting with Biden has been an ongoing conversation over the last week as both parties negotiate Covid protocols.

In a Zoom interview from where she is has been isolating at Premier House, Ardern explained that she is the first leader to visit the US who has had Covid so recently.

“The issue we have at play here is simply Covid protocols, it does not diminish our relationships at all.’’
–Jacinda Ardern

That had complicated the Washington leg, “but that’s just part and parcel of the world we live in,’’ Ardern said.

“In these times you roll with the Covid curveballs you’re thrown.’’

She said she took her obligations as leader very seriously and had done what she could to avoid testing positive, “but it’s not always easy when you have a little person in the house’’.

Ardern pushed back on the suggestion that New Zealand would miss its opportunity if her schedule in the US didn’t line up with Biden’s.

“It’s a time where there are a number of competing issues that every leader is currently dealing with.

“Whether it’s the reconnection of our exporters, our business, our tourism markets. Also juggling with that the increasing importance that we engage within our region, alongside the war in Ukraine, all these issues are facing leaders at the same time and we’re all having to make sure we’re meeting those needs.

“The issue we have at play here is simply Covid protocols, it does not diminish our relationships at all.’’

Given the uncertainty of the Biden meeting, Newsroom asked Ardern whether she had considered just flying to Boston for the Harvard speech.

That would allow her to leave the business delegation, trade, and tourism elements of the trip to a time more suitable for the White House, and once she was further down the track from her encounter with Covid.

Ardern said that would suggest the sole purpose of the trip was Harvard.

“I just don’t think we can underestimate the importance of supporting our exporters as they reconnect.

“We can’t underestimate the importance of our tourism operators, and New Zealand represents a very small percentage of countries that are competing right now for tourists, and they’re all seeking to open back up and re-engage at the same time.

US returns to Indo-Pacific

As Ardern prepares to depart for the US, Biden has left home soil to travel to Asia where he is expected to announce the Indo-Pacific Economic Framework (IPEF).

Biden’s visit includes a meeting with The Quad, which is made up of leaders from the US, Japan, India, and Australia.

The IPEF is designed around countries having shared objectives on trade facilitation, decarbonisation, supply chain resilience, infrastructure, digital technology, and other shared interest areas.

Ardern has been outspoken about the significance and opportunity the IPEF would create, and it was a top talking point with the leaders of Singapore and Japan when she last month visited Asia on her first overseas visit in more than two years.

While the Indo-Pacific Economic Framework is an opportunity for the US to re-engage in the region, Ardern said it didn’t mean the CPTPP was off the table.

“The IPEF as it has been floated isn’t a traditional trade instrument so there’s still room for us to push on the CPTPP.’’

“Politically I can’t imagine a more important time for political engagement with the US.’’

“The White House and getting in front of the President – it’s the opportunity to push New Zealand’s case across a number of areas with the person in charge.” – NZUS Council executive director Jordan Small

Ardern says the US re-engagement in the region, under Biden, is what New Zealand and its neighbours have called for.

“With the Pacific we’ve called for a return. The US has been a present force for a number of years but what we’ve seen in recent years was a focus to other domestic matters or other regions – slightly less than ours – so we’ve asked for that return.’’

There is other engagement in the region too, not all of which New Zealand is involved, such as The Quad.

Ardern says she has no issue with new multi-country arrangements being formed in the region.

“Where appropriate New Zealand has engaged so I have no issue where growth has happened with these groups.’’

Trade and tourism on the agenda

While the political arm of the trip is the one taking the longest to get across the line, Ardern says tourism and business is the focus of the trip.

“It’s part of my job to reach into the world and support our exporters and our trade economy.’’

The business council’s Small told Newsroom there is no price you can put on the boost of having the Prime Minister alongside businesses trying to enter or increase their presence in an export market.

“There’s big commercial benefits to that and in Asia we saw that – the media profile and opportunity that businesses can get a boost off,’’ he said.

“This is a big market and if you look at our trade with the US – it’s high-growth, it’s innovation, it’s technology and intellectual property.’’

Small said the fact Ardern is taking a business delegation to the US on her second trip out of the country reflects a seriousness about wanting to be in that market.

While in the US Ardern will make stops in New York, Boston, Washington, Seattle, and San Francisco.

She says she will be “unashamedly’’ advertising that New Zealand is open for business, and there aren’t many better opportunities for that than an appearance on The Late Show with Colbert in New York.

Ardern also has scheduled meetings with tech companies to talk about business opportunities, and to check in with the likes of Microsoft to discuss progress on the Christchurch Call.


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Legacy of Kirbyville namesake John Henry Kirby takes new twist with discovery of new heirs

Peter and Paul Remsen remember the portrait of John Henry Kirby that hung in their family home growing up.

While Kirby is best known as a lumberman, East Texas timberland owner and the man for which Kirbyville was named, he was even more in the Remsen home.

The portrait was father James Kirby Remsen’s tribute to the man who’d been a family friend and mentor since youth and set him on a path to success after graduating boarding school.

And until recently, that’s the only relationship the family could confirm between Remsen and Kirby.

“You know, you look a lot like him,” Peter, then 15, recalls telling his father while staring at the portrait.


“That’s when the whole story rolled out,” he told The Enterprise.

James Kirby Remsen long suspected John Henry Kirby was much more than simply his mentor. He believed Kirby was his father — the product of a dalliance between Kirby and Remsen’s mother Edna Weeks Foster. His mother at the time was married to Marcellus Foster — a wealthy businessman and founder of the Houston Chronicle — when he was born in 1901.

The Fosters and Kirbys ran in similar Houstonian elite circles, “and Edna Weeks was a knockout,” said Paul, who’s seen one of the few surviving photos of his grandmother.

The brothers remember their father recounting the day his mother took him to visit Kirby after she’d divorced Foster.

Remsen was just six years old.

Weeks told Kirby she believed Remsen was his son.

“Edna, I think you’re right,” he responded, as the story goes.

It’s a belief that would go unfulfilled in substance – Kirby couldn’t pass along his family name or heritage without confirmation.

And in that time, there were no paternity tests. They couldn’t prove Remsen was his biological son.

And in the early 1900’s, talk of illegitimate children among the wealthy elite simply wasn’t done.

The true story of James Kirby Remsen, as he was then known, was better left unsaid. And while Kirby would forever be part of his name, it would never be his last name.

Instead, he gave Remsen the only thing he could – a path to success in a world of wealth.

At the age of 20, Remsen was given a job at Standard Oil, part of the Rockefeller family’s holdings.

Later, Kirby became interested in the Texas Steel Company in Fort Worth — a failing business which he bailed out, putting Remsen at the helm as president.

He turned the business around, and it became a success – a cycle that would be repeated when Kirby later installed Remsen as president at the flailing Vancouver Lumber Company in Canada.

He made that business a success, too.

Then came the Great Depression.

Like so many, Kirby, lost everything.

It was a domino effect that felled Remsen’s business success, leading him into government work – first with the CIA, later with the National Security Council.

It wasn’t the tycoon success of Kirby and other turn-of-the-century elites, but Remsen did have success and with wife Joan Cox Remsen, went on to birth two sons – Peter and Paul.

And the two gone on to have their own success. Paul Remsen worked in the metals industry and founded Stainless Structurals, Inc. Peter Remsen went to work for IBM after serving in Vietnam.

But their familial success story dating back to someone of Kirby’s stature remained mere speculation until they got a call a few years ago from a woman named Gail Pitt, granddaughter of Marcellus Foster.

She was doing genealogical research and asked if they’d be willing to do a DNA test, as all had been told they were Foster’s biological grandsons.

The DNA tests revealed Peter and Paul Remsen had no relation to Foster. As their father long suspected, they were indeed the biological descendants of John Henry Kirby.

More than 100 years after James Kirby Remsen’s birth, it was finally confirmed that he was the first direct male descendant of John Henry Kirby. That made his sons, Peter and Paul, the sole remaining male heirs to the family name. 

The existence of male Kirby heirs was discovered by Silsbee Ice House Museum curators while setting up a new exhibit at the revamped museum space – an exhibit dedicated to Kirby.

“The story comes full circle back to DNA,” museum curator Susan Kilcrease wrote in a Facebook post in advance of the exhibit’s opening.

“A local Silsbee woman, Sharon Baldree, had been searching Ancestry.com for her family. Through DNA, she discovered that she was the great-granddaughter of Sarah Kirby — John Henry Kirby‘s sister. Further research in the site’s DNA records also connected her to a third cousin, Paul Kirby Remsen. Upon reaching out to him, she learned of his story and shared it with a friend associated with the Ice House museum, and we immediately reached out to him,” Kilcrease said.

The Icehouse Museum set about authenticating the newly-discovered lineage, using data like passport, death, marriage and other records.

“The most convincing evidence is that Ancestry.com showed John Henry Kirby and James Kirby Remsen were father and son according to DNA,” said Kilcrease, who contacted the site for expert confirmation.

“I was told that if they are linked by DNA in the database as father and son, this is in fact, indisputable,” she said.

Kilcrease called the discovery “an amazing and history-changing story. This information makes James Remsen’s sons the closest related living relative to John Henry Kirby alive today, and James Kirby Remsen the only biological son of John Henry Kirby.”

When she later spoke to Paul Remsen, she was struck by the way he spoke.

“I am well read in documents written by John Henry Kirby and am familiar with his unique way of communication. In conversing with Paul Kirby Remsen, I found him to sound remarkably like his grandfather,” she recalled. “It felt to me almost as though I was having an opportunity to meet John Henry Kirby in person.”

In late April, Kilcrease got the next best thing. She and education director Debbie Brown met Peter and Paul Remsen.

The brothers and Paul’s wife Cindy Remsen visited the Ice House Museum on April 28. It was their first trip to the Southeast Texas communities where their grandfather was born, raised and created the timber empire that would forever seal his place in the annuls of history.

The trio received an enthusiastic greeting as they walked through the museum doors and were then given a tour of “The Kirby Parlor” exhibit, which has drawn an unprecedented level of interest and museum visitors, many of whom came from out of town, Brown said.

They got to know their larger-than-life grandfather through photographs, the furnishings and artwork he’d collected, and a number of carefully-preserved typed and hand-written letters.

Kilcrease read from one letter displayed atop an ornate bureau in the parlor. In it, Kirby wrote to Laura Fortenberry – a close childhood friend and first love – after receiving a birthday letter filled with youthful memories decades later.

The correspondence is rife with the unique language that so resonated in Kilcrease’s first conversation with Paul Remsen.

“On this bright November day, I recall with distinctness that 50 years ago, I thought that if anything happened that I could not in due time become the husband of little Laura and have little Laura for my wife, that the whole universe would collapse,” Kirby added that his dream was forced to change when he as a young man realized he’d never wed the “little Laura who had blossomed into the full sweetness and witchery of her winsome womanhood.”

The brothers broke out in broad smiles as Kilcrease read the last sentence aloud, Paul exclaiming, “That’s our grandfather!”

The brothers spent the afternoon taking a deeper dive into the museum’s artifacts, which included archived notebooks filled with letters detailing Kirby’s business and personal communications, a kind of diary recounting his journey to success.

“How heartbroken Kirby must have been to not be able to recognize (James Kirby Remsen) as his son and heir to carry on his name,” Kilcrease remarked to the Remsens.

It’s a sentiment the brothers understand.

“We’re more than thrilled to confirm what our dad always thought, but more sad that he couldn’t be here to have this confirmed and know for sure that he was the son of John Henry Kirby,” said Peter Remsen.

kbrent@beaumontenterprise.com


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XLRI launches PG Diploma in Innovation, Entrepreneurship and Venture Creation

B-school XLRI Jamshedpur has launched the Post Graduate Diploma in Management in Innovation, Entrepreneurship and Venture Creation (PGDM-IEV) this year. The programme provides students with skills, analytical tools, perspectives, and experiences that prepare them for careers as autonomous entrepreneurs, family-business entrepreneurs, or entrepreneurs in corporate settings. Whether a student wants to start a business while in school, join an emerging business, give impetus to a family business, or set the groundwork to launch a new firm later in his or her career, the programme aims to provide preparation for all of these exciting options.

The special strength of this programme is that it combines theory with practice, providing students the opportunity to test the theories, models, and strategies learned in the classroom by creating real business plans, working on other field projects, and gaining access and insight from leaders in the entrepreneurial business community. Applications to the programme are still open and the last date for applying in 31st May, 2022.

It is a full time AICTE approved course in entrepreneurship by XLRI which offers structured long-term support for aspiring entrepreneurs by combining management education with incubation/acceleration. It approaches management education from the view point of startups and it is designed to deliver learning which is relevant and useful to entrepreneurs. As a result of this progressing and integrative approach, an aspiring entrepreneur/student doesn’t have to choose between an MBA and starting their own venture.

There are two tracks in the programme: Startup Track – For those who wish to start a new venture from scratch: Family Business Track – For those who wish to continue in their family business, strengthen it and take in exciting new directions.

Fr Paul Fernandes, Director XLRI Said “Many students seek that their education equips them to be more than just job-seekers. They wish to follow their passion and be job-creators.” More information can be found on the XLRI website.


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Global Research from PMI and PwC Reveals Attributes and Strategies of the World’s Leading Project Management Offices

PHILADELPHIA–()–Project Management Institute (PMI) has released a series of three global research reports, in collaboration with professional services firm PricewaterhouseCoopers (PwC), that uncovers the attributes and strategies being deployed by the leading project management offices (PMOs) to adapt and thrive in our new work ecosystem. The three reports – Narrowing the Talent Gap, Measuring What Matters, and PMO Maturity – each provides guidance for how other organizations can emulate the “Top 10 Percent” of PMOs to increase their own perceived value, impact, and maturity.

The report findings are based on a global survey of 4,069 individuals who are regularly tasked with leading or facilitating the delivery of projects, programs, and portfolios. The Top 10 Percent is comprised of 230 PMOs that outperform their peers by attracting and retaining talent, using innovation and technology to enhance measurement, and achieving greater influence and more successful project outcomes. These leading PMOs are more aligned with organizational strategy and are considered by executive leaders to be strategic partners. In fact, the Top 10 Percent outperformed organizations overall in 2020 across revenue, customer acquisition, customer satisfaction, and Environmental, Sustainability, and Governance (ESG) indicators.

“Project professionals play a key role in driving economic growth and impact around the globe,” said Michael DePrisco, Interim President & CEO and Chief Operating Officer of PMI. “PMI and PwC’s extensive global research offers invaluable and actionable insights on how PMOs can increase both the value and influence of their work. By elevating the perception of project managers as strategic partners, PMOs can effectively turn ideas into reality and create lasting business results.”

Narrowing the Talent Gap

The first report in the series, Narrowing the Talent Gap, identifies the five capabilities that are critical to the successful delivery of projects: relationship building, collaborative leadership, strategic thinking, creative problem solving, and commercial awareness. The report finds the Top 10 Percent place greater emphasis on recruiting individuals with these skillsets and cultivating them through learning and development programs. They are also more likely to proactively navigate demographic trends and cultural shifts in the workplace, such as working towards increasing the diversity of candidates, upskilling young people in under-represented communities, extending recruiting beyond the area local to the role, and offering flexible working schedules.

Measuring What Matters

The second report, Measuring What Matters, examines how the Top 10 Percent have increased the number and variety of metrics, beyond the traditional scope, schedule, and budget parameters, to tell a more compelling story around project innovation and success. They ensure key performance indicators are fully aligned with the wider organization’s strategic goals, and they prioritize communication and transparency around projects with their C-Suite executives. The Top 10 Percent are also more likely to have invested in technology, including strategy execution management technology and benefit realization tools, that facilitates measurement and reporting.

PMO Maturity

The third report in the series, PMO Maturity, introduces the first-of-its-kind Global PMO Maturity Index, examining how often the most advanced PMOs perform a range of activities linked to value creation across five key dimensions: governance, integration and alignment, processes, technology and data, and people. The report concludes that the Top 10 Percent have an average maturity score of 94.9 out of 100, allowing them to have greater influence and impact in their organization and ultimately deliver more successful project outcomes. These PMOs create long-term value by pushing their scope beyond good governance, which encompasses the more “typical” activities of a PMO, and into areas like talent development, technology adoption, and strategic influence.

“Project professionals have a vital role to play as the world navigates ongoing change and uncertainty,” said DePrisco. “We increasingly see PMOs moving beyond the tactical execution of projects and performing a wider range of activities that drive strategic value for their organizations, as evidenced by this series of reports. To become a strategic partner within their organizations, PMOs must understand the attributes and strategies exhibited by the leading organizations highlighted in this research.”

About the reports

In July and August 2021, PMI and PwC conducted a global survey of 4,069 people involved in leading or facilitating the delivery of projects, programs, and portfolios. The survey sample was wide-ranging and included individuals with formal project management qualifications and those with job titles such as project/program/ portfolio manager, as well as those in less formal project management roles, and initiative and workstream leaders. The executive viewpoint was also well represented, with the survey capturing 1,348 C-suite responses.

The series of complete reports is available at https://www.pmi.org/learning/thought-leadership.

About PricewaterhouseCoopers (PwC)

At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 156 countries with over 295,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com.

About Project Management Institute (PMI)

Project Management Institute (PMI) is the leading professional association for project management, and the authority for a growing global community of millions of project professionals and individuals who use project management skills. Collectively, these professionals and “changemakers” consistently create better outcomes for businesses, community and society worldwide.

PMI empowers people to make ideas a reality. Through global advocacy, networking, collaboration, research, and education, PMI prepares organizations and individuals at every stage of their career journey to work smarter, so they can drive success in a world of change.

Building on a proud legacy dating to 1969, PMI is a not-for-profit, for-purpose organization working in nearly every country around the world to advance careers, strengthen organizational success, and enable project professionals and changemakers with new skills and ways of working to maximize their impact. PMI offerings include globally recognized standards, certifications, online courses, thought leadership, tools, digital publications, and communities.

Visit them at www.PMI.org, https://www.linkedin.com/company/projectmanagementinstitute, https://www.facebook.com/PMInstitute, and on Twitter @PMInstitute.


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8 most profitable transportation and logistics business ideas for Africans

According to The Nation, the air cargo transportation industry represents 35% of world trade by value at over $6 trillion. Air cargo is time-saving, effective, and favored for sending shipments from one country to another, and Africans can benefit.

So whether you’re in South Africa, Nigeria, Kenya, Ghana, Ethiopia, or Mauritius, starting an air cargo transportation business is lucrative. Remember that the industry is capital-intensive, so getting prior knowledge is necessary. Consider becoming an understudy to experts online or get some form of apprenticeship to get started with a proper understanding of the business nature.

According to Fast Capital 360, starting a trucking business is lucrative for short and long-term investors. It is one of the most profitable transportation and logistics businesses to start with moderate capital. Trucks can deliver different products from manufacturer to wholesaler and to retails in any country.

Consider selecting based on interests while shed delivery, car hauling, home improvement equipment, and livestock haulage are a few trucking business niches. Furthermore, Africans can dabble in diesel, gasoline, and agricultural equipment trucking business for rewarding opportunities.

According to Small Businessify, offering courier services is a profitable business idea with rewarding opportunities. With eCommerce becoming increasingly popular, door-to-door delivery of goods and services becomes essential, making courier service necessary. The idea is to satisfy any customer’s need to buy an item and get it delivered to a preferred location at a fee.

Consider putting a pricing structure and parcel tracking options before commencing this business. Beginners should consider offering grocery, pizza, laundry, medical, beverage, and eCommerce courier services to generate high revenue.

According to Profitable Venture, shipping services are among the best transportation and logistics business ideas that ensure a steady income. While shipping services are integral to transporting goods from manufacturers to consumers, Africans can earn a decent income without national barriers.

If you have experience and expertise in importing and exporting goods, consider this lucrative business idea. However, the business idea requires passion, dedication, effort, and practical strategies for successful results.

According to Make in Business, a car shuttle service is a lucrative transport business idea if you start with an effective plan. This sector offers endless money-making opportunities, and Africans that can make different professional shifts can generate revenue.

This idea is a specialized business plan providing demanded or scheduled transport services to clients. Starting a car shuttle business requires purchasing or leasing vehicles, insurance, licenses, and renting office premises, and Africans can benefit. Besides, you can run a sole trader business or partner with a trust, company, or even a partnership.

According to Mobile Tech, car detailing involves cleaning, restoring, and adding finishing touches to any vehicle’s interior and exterior. You can earn a high income in this industry if you add finishing touches, including vacuuming, polishing, and waxing to vehicles.

While this business is profitable, it requires a clear plan for successful results. Consider determining your target market, start-up, ongoing cost, and how much you’ll charge customers, and research before starting this business. Besides, this idea can quickly become your most preferred transportation and logistics business.

According to Business News Daily, starting a travel agency is a quick way to make money in the transportation and logistics industry. With the increasing numbers of travelers globally, Africans can generate revenue in the industry with a travel agency.

Travelers have specialties, so consider selecting a niche and earn from vacations and trips. Many Africans have the resources to start a travel agency, but you don’t have to do it alone. Africans can start the business through a franchise for quick accreditation and minimized budget.

According to Entrepreneur, starting a driving school is an excellent business with high-profit potential and rewarding opportunities. By starting a driving school, Africans can benefit from the increasing numbers of trucking businesses and drivers.

While the business requires accreditation and significant capital investment, Africans can benefit from teaching customers truck driving. Consider getting licenses and essential equipment for a smooth operation and leverage the internet and social media platforms for advertisement.

Africans can earn high income by providing air cargo transportation services, trucking business, and courier on-demand services. You can make money starting a car shuttle and detailing service and even a travel agency without national barriers. Africans can benefit from these profitable transportation and logistics business ideas with money-making opportunities. Now you know the most beneficial transportation and logistics business ideas for Africans, consider extensively researching each point before selection.

*The views expressed in this article are the views of a contributor at Business Insider Africa. It does not represent the views of the organisation Business Insider Africa.

Olayinka Sodiq is a qualified writer with technical, analytical and copywriting experience gained from 5 years of both in-house and freelancing gigs. He is versed in finance, investments, technology, blockchain, mergers & acquisitions, bankruptcy, etc.


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DBJ ups funding in relaunched innovation grant programme | Business

The Development Bank of Jamaica, DBJ, has upgraded aspects of its Innovation Grant Fund, one of the primary changes being a 43 per cent or $6 million addition to the financing each successful applicant can get.

DBJ on Friday announced the relaunch of the grant, which coincides with the starting date for the intake of another round of applications.

The relaunched programme allows registered, medium-sized Jamaican businesses to access up to $20 million in grant funding for business ventures deemed to be original and have scope for revenue and employment generation.

DBJ does not limit funding for innovation projects to specific sectors, but the state-run agency requires that applicants be in business for a minimum of seven years.

The application window will stay open for more than a month, from May 20 to June 30.

The Innovation Grant Fund, IGF, is the first programme launched under the DBJ’s Boosting Innovation Growth & Entrepreneurship Ecosystems or BIGEE, initiative, through which the DBJ intends to distribute US$25 million, or $3.89 billion at the current exchange rate, to micro, small, and medium-sized companies.

BIGEE covers three distinct components that include grant financing, capacity building and institutional strengthening and equity financing, and which, in turn, have several sub-components. Its objective is to promote innovation and entrepreneurship among medium-sized companies in Jamaica.

So far, DBJ has approved six projects under the programme valued at $78 million, three of which were Bare Nutrition Limited, Intermed Company, and Sherwood Forest Coffee Company. The three were chosen from more than 100 applicants in the first round of the IGF launched in 2021.

At the time, the maximum funding for entities that qualified was $14 million, but under the relaunched programme DBJ has increased the cap to $$20 million.

“We have listened to feedback from business owners and reviewed the comments from our consultants on the need to improve several aspects of the IGF. This is what led us to relaunch the IGF with upgraded features,” BIGEE Project Manager Christopher Brown said in a statement issued by the development bank.

Additionally, the DBJ has accredited a cadre of business consultants to assist owners of medium-sized businesses in completing stage two of the application process – a detailed business plan.

“Businesses applying for this grant must have an innovative business model and/or concept that will result in increased revenue and the creation of increased employment. For example, this could be a piece of equipment that will replace a manual process. This must be new to Jamaica and, or the region,” Brown said.

Upon closing of the IGF, the development bank will open applications to the Innovation Grant from New Ideas to Entrepreneurship, IGNITE, in July 2022. IGNITE, which dates back to October 2015, provides funding for enterprises, from the idea stage to commercialisation. IGNITE is targeted at micro and small enterprises.

The grant is broken down into two sections. It provides up to $3 million for businesses in the idea stage, and $7 million for businesses within the commercialisation stage, DBJ said.

karena.bennett@gleanerjm.com


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