Diasporic Entrepreneurship in the Caribbean - Firm Profiles.pdf Vol 2 | Page 35

Transportation/Freight Firms

Location:
Majority of the employees are from the Caribbean
Diaspora. There are 450 employees in the freight section
of company and 400 employees in other non-shipping
areas.
Target Market:
Caribbean countries and the Caribbean Diaspora,
primarily in Canada and the US
Economic:
Household shipment accounts for 22% of total volume
of shipping, while 88% accounts for commercial cargo.
The company’s annual revenue is estimated at US$40
– 50million. In terms of an estimate of overall company
revenue, 5% of international operations is generated
and derived from the diaspora. Laparkan is currently
exploring offering shares to the public (diasporic market
& home countries) in the future.
Policy Recommendation:
1. There is a knowledge gap between government
officials and the potential that growth can be derived
from the diasporic market.
2. The company suggests that barrels shipped to
region with personal items should be duty-free and
unscrupulous persons should be penalized rather
than the key players in the industry.
3. Laparkan suggests there is a need for regional
governments to create a better environment
for business transactions locally, as the national
uncertainty creates the diaspora. When there is
limited ability for economic growth due to poor
government policies individuals migrate abroad.
Therefore, the government needs to analyze the
correlation between national policies and migration.
4. It is suggested that the governments create policies
to attract diasporic investors in economic activities;
despite the typically small size of the investors this
opportunity would open doors to credible investment
possibilities.
5. Improved regulation of the sector to ensure that rules
and regulations are enforced.

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