While much of Belize is in a state of anticipation regarding the discovery of oil and its ramifications, the small companies behind the find are reveling in their good fortune.

With oil fetching more than US$60 a barrel on world markets, Belize Natural Energy and CHX Energy of Denver, Colorado, which have recently struck oil and natural gas in tiny oil fields in Belize, are willing to risk just about everything, the New York Times reported Tuesday.

Oil prices rose to US$61.46 Monday in reaction to rebel attacks in Nigeria.

“There were 50 dry wells drilled in Belize over 50 years until we came along, said Susan Morrice, a geologist from Denver, who found oil in Belize in her first drilling attempt last year.”

Morrice is the wildcatter behind Belize Natural Energy, a venture she formed with the backing of her husband, the Colorado oil executive Alex Cranberg, and over 70 small investors from her native Ireland.

WHY SHOULD CARIBBEANS AND SMEs CARE ABOUT EXPORT CONTROLS IN THE US?

Export controls are imposed generally for two main reasons, National Security and Trade Protection.  It behooves you, the exporter (shipping out of the US) to the Caribbean region to have information about controlled items or even trading with foreign nationals in the US.  All of you exporters need to familiarize yourselves with the “Export Administration Regulations” (better known as EAR).  It is under the Department of Commerce Agency’ Bureau of Industry & Security (BIS).  This Administration regulates exports of commercial and dual-use (commercial and military) items and information.

Caribbean exporters or exporters-to-be should get acquainted to the Commerce Control List (CCL), dual-use items subject to EAR.  Some items require you to have a license prior to exporting them.  Familiarize yourself with EAR restrictions, e.g. exports to embargoed countries, restricted end uses etc…

Zeisa Sweet Ruggies Pudding & Pie Bakery (“Zeisa”) is a small entity that produces and sells wholesale pastries unique to the Jewish community while catering to the needs of the surrounding communities as a retailer of Jamaican products.  Zeisa has been operational since March 2000 and continues as a viable business with strong community consciousness and participation.  The bakery has been able to hold its own with high quality products, competitive prices, and excellent customer service.

You have worked hard to establish your credit, and although you have been late a couple of times, your credit score was acceptable until the credit bureau reported items in error on your report. What do you do?

According to the Federal Reserve of San Francisco consumer information service:

                                    FAIR CREDIT REPORTING ACT

·           If you find error on your report, you should notify the credit bureau (in writing) immediately. The bureau is responsible for investigating and changing or removing any incorrect data.

·           The source of the error must then notify all consumer-reporting agencies where they sent information.

·           Finally if you are not satisfied with the correction, you have the right to add a brief statement (100 words or less) about the error to your report. The statement should clarify the error, not explain your credit problems.

Last week in the first in a series on organizational behavior we looked at behavior of management and employees within a business organization. In this week’s article we will look at an important component of workplace behavior, ethics. 

Who is responsible for ethical behavior in a business organization? Even though companies establish guidelines (codes of ethics and personnel handbook) for their employee’s behavior, the responsibility is ultimately that of the employees.

Ethical standards are influenced by three primary factors. These are the laws of the society, the rules and procedures of a company, and personal values. Ethical business practices assure that legal and moral standards are observed by the people within the organization in relationships with people in the business community and in serving customers. A company’s president and/or CEO’s goal is to build a solid ethical business reputation and maintain it. Unethical behavior and practices within the company, and expressed outside it can lead to business failure.