UWI marries business theory with practice

The University of the West Indies (UWI) Cave Hill Campus through the Inter-American Investment Corporation's (IIC) FINPYME® project is getting an opportunity to marry academia with real-life business operations.

UWI Cave Hill will be conducting the diagnostic assessment of local businesses that enroll in the programme. Sonia Mahon, deputy dean of the Faculty of Social Sciences at the UWI Cave Hill Campus explained that one of the main aims of the university is to provide not only the theoretical framework, but the application of the theory in the field.

IIC FINPYME®, a Spanish acronym for Innovation Financing for small and medium-sized enterprises (SMEs), is a diagnostic tool intended to help SMEs improve competitiveness and facilitate their success to potential sources of financing.

FINPYME® offers SMEs diagnostic reviews based on a set of indicators that evaluate all management, operational, and financial areas, identifying where companies need to improve and defining action plans to boost their competitiveness.

Advantages for participating companies are free access to experts who will perform an objective diagnostic review and define plans to increase competitiveness as well as give advice on improving an SMEs ability to access financing from the IIC and other financial institutions.

Companies that want to participate in FINPYME® should have been operating for at least three years, have annual sales of at least US$150,000 (this varies based on country conditions), operate in IIC-eligible sectors and operate (or be willing to operate) in compliance with environmental and occupational safety laws and regulations.

Source: Business Authority, 30/03/2009

Thursday, May 28, 2009