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Patrick, I respectfully disagree with the premise behind this position.
MegaMart & Progressive Grocers job isn’t to foster local growth or innovation. It isn’t even to provide jobs. It is to make a profit for the owners.
In the pursuit of profit they provide jobs... https://twitter.com/PCasserlyJA/status/1198284470190772224">https://twitter.com/PCasserly...
MegaMart & Progressive Grocers job isn’t to foster local growth or innovation. It isn’t even to provide jobs. It is to make a profit for the owners.
In the pursuit of profit they provide jobs... https://twitter.com/PCasserlyJA/status/1198284470190772224">https://twitter.com/PCasserly...
and support many other small businesses.
I know, first hand, how many farmers the Progressive Grocers chain supports. I used to buy and sell fresh produce. I was surprised to learn how many farmers make a great living trucking in produce weekly to these supermarkets.
I know, first hand, how many farmers the Progressive Grocers chain supports. I used to buy and sell fresh produce. I was surprised to learn how many farmers make a great living trucking in produce weekly to these supermarkets.
By great living, I mean perhaps $5M - $20M+ net per year depending on the size of their operations, and how big they want to make it.
If they are good on the small end, they can support themselves, pay other farmers and send their kids to school, etc. They are good.
If they are good on the small end, they can support themselves, pay other farmers and send their kids to school, etc. They are good.
In another aspect, I currently run a company that makes Jamaican products — from Greeting Cards to Tote Bags. We don’t make every single thing in the production process, but we do a lot of the value add and handle distribution and mktg ourselves.
I literally cold called MegaMart to ask if they would be interested in carrying our products. Some weren’t a good fit, but some were. They now carry our greeting cards & gift tags in all of their locations.
I didn’t have/use any ‘links’, just the process and our products.
I didn’t have/use any ‘links’, just the process and our products.
They evaluated our products on the strength of the products and they accepted it.
In fact, they were the first chain to give us credit terms when everybody else (at the time) was giving us consignment terms.
We are just a small SME, and they owed us nothing.
In fact, they were the first chain to give us credit terms when everybody else (at the time) was giving us consignment terms.
We are just a small SME, and they owed us nothing.
We knocked on the door and they worked with us. They have done the same with others too.
Btw, the same thing applies to all of the retailers we currently sell our stuff in.
Btw, the same thing applies to all of the retailers we currently sell our stuff in.
I also advise and work with a number of other entrepreneurs that make local products. One in particular comes to mind — Jabba’s Peppa Swims. Customers say the best pepper shrimp around.
Jabba literally did the same thing, knocked on the door and cold called these supermarkets. Some he got intros to the buyer, but most (if not all) were middle mgmt introductions.
The product was evaluated and put on the shelves to test.
They can’t supply enough.
The product was evaluated and put on the shelves to test.
They can’t supply enough.
Right now we are figuring out scaling challenges.
Yes these are just two anecdotes, but this is just a snapshot of what’s happening on the ground.
If these retailers didn’t import to sell products to make a profit, small companies like mine wouldn’t have somewhere to sell...
Yes these are just two anecdotes, but this is just a snapshot of what’s happening on the ground.
If these retailers didn’t import to sell products to make a profit, small companies like mine wouldn’t have somewhere to sell...
I have never heard any entrepreneur say they started a successful business for a tax break.
It’s usually to solve some problem.
In our case, we just need a level playing field all around and access to capital, which we are getting.
It’s usually to solve some problem.
In our case, we just need a level playing field all around and access to capital, which we are getting.
So all in all the environment is improving little by little.
Local producers just need support with how to scale and do tactical stuff. Not tax breaks per se.
If we got lower rates across the board, we will figure it out and solutions will continue popping up.
Local producers just need support with how to scale and do tactical stuff. Not tax breaks per se.
If we got lower rates across the board, we will figure it out and solutions will continue popping up.
Sorry for the long thread, but I thought that tweet in particular needed some more flesh and an alternative perspective - both from an academic perspective and also from an ‘on the ground’ perspective.
Love the discourse though.
These are the discussions we should be having.
Love the discourse though.
These are the discussions we should be having.
