May 23, 2008 — Small businesses are part of the economy. They fail every day, and they succeed every day, UVI President LaVerne Ragster said Friday evening, as representatives from the V.I. Small Business Development Center (SBDC) gathered at the university's St. Thomas campus to honor some of the territory's own success stories.
The University of the Virgin Islands is the host institution for SBDC, and the center is partially funded by the U.S. Small Business Administration.
This year's SBDC honorees represented a diverse cross-section of services offered by the community. Topping the list as SBDC Small Business Person of the Year was Harish G. Hemrajani — owner of Gems Palace in Havensight and Little America on Main Street — who said he has seen his businesses, over the past three decades, flourish and decline with economic trends and the onslaught of Hurricane Hugo in the late 1980's, which brought on a sharp depression for local merchants.
"It really has been a journey for me over the past 30 years," Hemrajani said Friday evening, to the crowd of family members, supporters and residents gathered for the event. "I've learnt so much from the ups and downs, but I always felt that St. Thomas is so strong and vibrant, that it will always bounce back from any situation. There is a lot of potential here."
Winning the award for Nascent (startup) Business of the Year was Tamarind Hill Associates Inc., doing business as Core Magazine. Started just about a year ago, the flourishing organization aims to bridge the gap between local residents and Virgin Islanders living abroad with its bimonthly publication.
"We've grown a lot throughout this process," said the magazine's co-founder Chris George. "Core is about providing inspiration to the youth of the Virgin Islands, and in light of the recent violence in our community, we're going to keep working to make sure everyone here comes on board with our message and what we're doing."
In terms of the small business industry, businesses headed by women are becoming a big trend, representing one out of every four businesses that has opened within the past year, said Jose Sifontes, district director of the V.I. Small Business Administration.
That trend has hit home on St. Thomas, with this year's award for Woman-Owned Business of the Year going to Natalie M. Knight, owner of Messages, Mail and More.
"Sometimes you get busy working hard, and don’t expect anything like this," Knight said as she accepted her award. Knight added that she inherited her customer service and people skills from her mother, and armed with that knowledge, has been able to transform a business that started out with 60 mailboxes into one with the potential for 593 boxes.
"There's something deep inside me that says I can do this, that I am exceptional, that I can beat the odds," Knight said.
This year's Entrepreneur of the Year Award went to Captain Steve Mahabir, owner of Sea Gulls Delivery, while Angel LeBron, owner of Nisky Pharmacy, picked up the award for Community Service Advocate of the Year.
Providing exceptional customer service is also a goal shared by FirstBank Virgin Islands, said Joe Hosie, the bank's commercial banking manager, as he picked up the U.S. Small Business Administration's (SBA) Bank of the Year Award.
"This award means a lot to us at FirstBank, because it is a fine recognition from a very important source that recognizes the importance we place on giving back to the community," Hosie said. "It also recognizes the dedication of our staff members, who really do want to help."
FirstBank also received a special recognition award for their annual contributions and support to V.I. SBDC.
Admiralty Dive Center Inc., owned by Duane and Laura Hausch, picked up the SBA Small Business Person of the Year Award for St. Thomas.
Over the past year alone, the SBDC has greatly contributed to the cultivation of small businesses in the Virgin Islands by assisting 200 new clients, training 1,800 business owners and helping 50 groups secure more than $4.5 million in loans needed to start their new businesses, Ragster said earlier in the program.
Looking beyond the statistics, the center's State Director Leonor Dottin said the agency's staff is always ready to assist small business owners in any way possible, and will "provide a listening pair of ears that understand what you are looking for."
"We are here to serve you," she said. "Many individuals are looking to be independent and own their own businesses. This is a dream you should never give up."
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