Business Porposal

Improved Business Proposal

Eco/561

Paul Updike

Introduction

Tourism is a striving industry on the island of Barbados. Although the country economy hasn’t shown any real positive growth for the past four years, the tourism sector of the economy continues to show growth bringing in a major part of the countries revenue. With people from all over the world vacationing on the island, the hotel industry is doing very well. My business proposal is to open a small hotel along the beach of Inch Marlow, Christ Church. The hotel will be named “Silver Sands Inn” which is the name of the local beach. This area is highly visited by tourist for the beautiful beaches and beach activities being offered. With a hotel close by, it would be more convenient for the visiting tourist.

Global Economy

The United States and the United Kingdom are two of Barbados major trade partners. About 75% of Barbados imports come from these two countries, so there current economic crisis has to be taken into consideration because if there economy fail Barbados will follow. With the economic crisis in the United Kingdom, tourists are still visiting the island from these countries. Forty percent of Barbados tourism revenue comes from the United Kingdom. Base on Barbados current economic state, tourism is on the “rise again for the first time in 4 years.” (www.caribbean.360.com) With the right prices and advertisement about what the hotel has to offer, vacationers would visit the hotel and enjoy staying there.

Credit Rating

Although the global economy is in a recession, Barbados credit rating is still in good standing. Businesses and consumers are able to obtain loans from the Barbados Central Bank and the First Caribbean International Bank, which is the “largest regional listed bank in the English and Dutch speaking Caribbean, servicing accounts in 17 markets.” (www.caribbean.360.com) With a sound business proposal and any financial assets you have as collateral, for example land,...