“Do not conform to the pattern of this world but be transformed by the renewing of your mind. Then you will be able to test and approve what God’s will is—his good, pleasing and perfect will.” – Romans 12:2
Small Island states like my beloved Barbados are often described in economic terms as having a small footprint: limited land, jobs, populations, financial resources and growth. But I have always believed that scarcity can be a blessing. It forces us to think differently — to step “out of the box”.
Maltese Dr. Edward de Bono, the master of lateral thinking, reminded us that creativity begins when we move beyond conventional patterns and embrace fresh perspectives. I can attest to the humility of the man and the brilliance of his mind, having had the privilege of sitting on a panel with him at a Commonwealth Association of Public Administration and Management (CAPAM) conference in the Seychelles in April 1997.
Barbadians enjoyed a more intimate exposure when he delivered the 30th Sir Winston Scott Memorial Lecture at the Central Bank of Barbados in 2005. He may have left us in 2021, but his wisdom and legacy remain alive.
When I look at the Caribbean, I see vast untapped potential. Our size, instead of being a handicap, can be our advantage. We are nimble, adaptable and able to pilot innovative solutions faster than larger economies. What we need is the right mindset and the right structures to shepherd ideas from conception to success.
Shepherding, as I define it, is more than business mentoring; it is life coaching intertwined with business guidance. Entrepreneurs need support not only in strategy and finance but also in resilience and self-belief. A shepherd nurtures both the person and the enterprise.
Financing remains the perennial challenge. Traditional lending often crushes dreams. Equity funds, designed for small island innovation, offer a sustainable pathway.
The formula is clear: lateral thinking to spark creativity, shepherding to sustain the journey, and equity financing to fuel expansion. With these tools, small states can show the world that innovation, not size, determines destiny.
(Dr. Basil Springer GCM is a corporate governance adviser. His email address is basilgf@marketplaceexcellence.com. His columns may be found at https://www.nothingbeatsbusiness.com.)