Welcome to the BEDC corner; here, you will get a chance to meet the dedicated members of our team and Board. We will share our thoughts on entrepreneurship and what it means to provide support and help you build your dreams.
This month we feature Keitha Caines, Director of Finance, Data & Administration.
- What excites you about entrepreneurship?
In entrepreneurship, the thrill lies in the opportunity to turn innovative ideas into reality. It’s a journey marked by independence, impact, financial potential, and constant learning. The flexibility, problem-solving, and networking aspects make it a dynamic and rewarding endeavor. Most importantly, it’s a chance to build something of lasting value, contribute to the economy, and shape the future.
- What advice would you give to someone who is trying to become an entrepreneur?
Start by identifying a genuine passion or problem you’re deeply invested in. Then, conduct thorough market research to understand your target audience and competition. Develop a solid business plan, seek mentorship from experienced entrepreneurs, and build a support network. Embrace failure as a learning opportunity, stay adaptable, and prioritize perseverance. Finally, never underestimate the importance of effective communication and networking.
- What is your role at BEDC?
I manage the Finance, Data & Administration Unit which is responsible for overseeing BEDC’s internal fiscal processes, human resources, data management, and administrative provision of services in order for the Corporation to function optimally. It oversees providing accurate and timely financial statements for BEDC. It manages and coordinates the external audit process. It develops sound accounting procedures and controls to ensure reliability of the financial processes. It manages BEDC’s debt recovery process and performs internal operations duties, including the provision of workshops and seminars as needed. It provides a range of financial and information technology services within BEDC to enable the officers to discharge their duties and responsibilities in an efficient, economic, and effective manner.
- What is the best part about being a member of the BEDC team?
The best part about being a member of the BEDC team is the opportunity to collaborate with passionate professionals dedicated to driving meaningful change and innovation to the entrepreneurial community that fuel Bermuda’s economy.
- What role does entrepreneurship play in the future of Bermuda?
Entrepreneurship is poised to be a cornerstone of Bermuda’s future. It brings innovation, economic diversification, and job creation. By fostering a culture of innovation and supporting startups, Bermuda can drive sustainable growth and remain competitive in a rapidly evolving global economy.
- What trends have you noticed emerging within Bermuda’s Entrepreneurial Landscape?
1. Technology and digital innovation – Emphasis on digital technologies, including fintech and blockchain to create new business opportunities.
2. Sustainability and green entrepreneurship – A growing interest in sustainable and environmentally friendly business practices
3. Remote work and digital nomadism – The COVID-19 pandemic accelerated the acceptance of remote work, making it easier for entrepreneurs to start businesses without geographic constraints.
4. Health and wellness – Increasing demand for health and wellness services and products
5. Start-up incubators and accelerators – The development of support ecosystems.
6. Efforts to improve access to funding.
7. E-commerce and online marketplaces – growth of online retail and e-commerce platforms, driven by changing consumer behavior.
8. Digital marketing – An increased focus on digital marketing strategies to reach customers and build brand presence online.