Diasporic Entrepreneurship in the Caribbean - Firm Profiles.pdf Vol 2 | Page 28

Agro-processing Firms

Revenue Break down by Market
• Canada represents 25%- 30% of total review
generated
• USA 25%- 30%( New york and New Jersey
represent about 34% of the entire USA
market, followed by Illinois and Texas that
represents 20 – 25%. )
• UK market ranges between 15% and 20%.
• Caribbean market- 20% - 25%
• While Guyana is still a main consumer of
the product, representing about 60% of rum
consumed, however the company’s exports
represent the higher value products.
Demerara Distilleries is also very engaged with
the diaspora through marketing strategies;
over the past 3 decades, DDL has supported
the Caribana festival in Toronto, Canada. In
addition DDL sponsors main events in foreign
and regional markets where Caribbean people
attend, including Caribbean Premier League
(CPL) Cricket.
Competition:
In the Caribbean, consumers in each country
have a national commitment/loyalty to
their national brand. DDL is not engaged in
competition with the local rums in Caribbean
countries. DDL seeks to provide a choice
of spirits on their local markets, providing
an option for consumers compared to rums
internationally.
DDL operates in the top end of the
international spirits market and competes with
high-end rum products such as Ron Zacapa
from Guatemala, Flor de Cata Nicaragua,
and various other entities, which are now
launching premium brands. As a result of the
positioning of DDL, a new type of rum called
“sipping rum” (rum that is used to mix with
other drinks), has evolved in the international
market place. All companies involved in
spirits output are seeking to produce/market
premium versions of their spirit brands.

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Policy Recommendations:
1. Proposes greater collaboration between
public sector and private sector to enhance
market share in diaspora markets. Cites
French government support for their
Cognac companies to capture markets;
facilitated entry into Chinese markets.
2. Governments should assist private sector
companies to get into some of the new
emerging markets.
3. Use of Caribbean country embassies/
missions overseas is recommended.
4. While Go-Invest is an active government
facility in Guyana, it is not a one-stop
agency. Go Invest assist with administrative
issues, but does not finance investment
activities. DDL recommends some type
of legislative framework to expedite the
process for diaspora investors/investment.
5. More trade fairs and other types of
marketing facilities have to be created as
they are very useful. The government
needs to take interest in these areas.
Views on Diaspora Fund
With the globalization of businesses at present,
there are available opportunities that diaspora
entrepreneurs can utilize, but they need
financial/other resources.
There needs to be venture capital financing to
undertake some of the risky ventures. With
collaboration and support from Caribbean
governments, diaspora entrepreneurs can
be mobilized to establish/develop their
businesses.