In recognition of a sterling contribution to local business, Bulkan Timber Works was yesterday awarded the country Prize in the 2009 Pioneers of Prosperity Caribbean Awards Com-petition.
The company will now compete with entrepreneurs from The Bahamas, Barbados, Belize, Haiti, Jamaica and Trinidad & Tobago for the regional prize. Receiving the prize on behalf of the company was Managing Director, Howard Bulkan, who has been involved in business for approximately 38 years. Bulkan Timber Works Inc. was formed in 1997 and the company manufactures and exports value-added wood products specifically for overseas markets. Currently the business has in excess of fifty employees.
At yesterday’s award ceremony held at the Regency Suites, Teri O’Brien, General Manager of Wilderness Explorers was also honoured for her contribution to local industry and won the Honourable Mention Prize. Wilderness Explorers is a tour operator and offers adventures in the wilderness of South American and Caribbean territories through comprehensive itineraries.
The Pioneers of Prosperity Program is sponsored by the multilateral investment fund of the Inter-American Development Bank, the John Templeton Foundation, and the Social Equity Venture Fund (S.E. VEN Fund). The programme seeks to inspire a new generation of entrepreneurs in emerging economies by identifying, rewarding and promoting outstanding businesses which will serve as role models.
As the country winner, Bulkan’s Timber Works will receive a grant from the Multilateral Investment Fund of the Inter-American Development Bank (IDB) of US $40,000 to be invested in training and technical infrastructure for the company while Wilderness Explorers will receive a grant of US$10,000 to be used for similar purposes.
According to the Programme’s website, the winners were chosen on their ability to: create unique value for customers through innovative products and/or services, generate a sustainable profit for owners/shareholders commensurate with the risks taken by investing in them, invest in their employees through training, safe working conditions, and high and rising salaries and protect the future by strengthening local and global environments and communities.
The website stated that for persons to qualify for the award, they would have had to employ more than five full time staff, earn between US$100,000 and US$5,000,000 in revenues per year, be a for-profit entity, have been profitable for more than 4 quarters in a row, receive some type of outside funding (e.g. from financial institutions), not rely solely on donor financing.
Similar awards are given out in other Caribbean territories and the various country winners and runners-up will compete for the regional awards which will be handed out in September in Jamaica.
