With support from the European Union (EU), under its Regional Private Sector Development Programme (III), the Caribbean Export Development Agency is initiating efforts to support the digital transformation of micro, small, and medium enterprises (MSMEs) in the Caribbean.
The Caribbean Export Development Agency (Caribbean Export) leads private sector development programmes across the Caribbean through the provision of innovative, targeted initiatives designed to increase Caribbean business growth, sustainability and job creation.
In recent years, especially following the COVID-19 pandemic, digital transformation has emerged as a critical pillar for business resilience and growth worldwide. The pandemic underscored the importance of digital technology in maintaining business continuity, as businesses with digital capabilities were better able to pivot to online platforms, remote work, and digital sales channels. In fact, an October 2020 survey of business executives, conducted by McKinsey & Company, found that just a few months into the pandemic, there was a marked acceleration in the projection of digital technology adoption. The average share of customer interactions that became digital increased by over 20% in 2020 with North America seeing an accelerated adoption rate of 65% compared to 41% in the previous year. This trend was echoed with similar results in the European and Asia-Pacific regions as well (53% and 55% respectively). This same survey noted that the pandemic saw a shift in the offerings of products characterised by marked increase in the average share of products and/or services that became partially or fully digitized (55 percent in 2020 as compared to 35 percent in 2019). Again, North America led the way with 60 percent followed by Asia-Pacific and Europe with 54 percent and 50 percent, respectively.
Proactive responses to the pandemic led to global changes in areas such as increased use of advanced technologies in operations and business decision-making, with an acceleration factor of 25. The survey noted that companies expected it to take well over 600 days to respond to these changes but responded in 25 days to implement the necessary changes. The area of business that saw the highest acceleration factor was around increased remote working and/or collaboration. Globally, companies expected it to take 454 days to adjust and implement changes, however, the study revealed companies took just 10.5 days, an acceleration factor of 43.
Other areas saw significant acceleration in implementing digital technology measures to adjust to pandemic such as increased migration of assets to the cloud and increased spending on data security, both of which saw an acceleration factor of 24 and 19 respectively.
Whilst globally the pandemic has shown evidence that points to an uptake in digital inclusion, adoption and overall transformation, the Caribbean has lagged behind. ECLAC’s report, Digital inclusion in Caribbean digital transformation frameworks and initiatives: A Review, concluded that digital inclusion was not yet a priority in the eleven Caribbean states of interest. It also noted that few countries have digital transformation frameworks in place. In fact, the research highlights that data on digital transformation in the Caribbean is severely lacking such that the true extent of Caribbean digital transformation is unclear at best. What has been noted however, is that where digital transformation has taken place in the Caribbean, it has done so at the public administration level with some Caribbean states putting emphasis on e-government. One of its recommendations, upskilling Caribbean people in ICT, noted that training is paramount to the success of any digital transformation initiative.
With the noticeable global shift favoring digital transformation and the Caribbean’s inability to be early adopters of digital transformation tools and processes, there needs to be a concerted effort to build the knowledge capacity and implementation of digital transformation in the Caribbean private sector where small and medium enterprises (SMEs) form the backbone of the economy. Even well before the pandemic, early digitization was touted to have significant impact on productivity and job creation in the Latin American and Caribbean region. According to Strategy&, a PwC partner, digitization was estimated to provide an additional $USD27 billion to the LAC economy and create over 600,000 new jobs in 2011.
There has been significant acceleration in the interest to adopt digital technologies in the Latin American and Caribbean region, prompting governments to expand internet access and promote technology-driven business models for MSMEs and consumers, thereby fueling rapid growth in e-commerce.
The dynamics of the e-commerce landscape globally is also itself, changing. There is an increase proportion of online shoppers who are making purchases through various social media platforms. A 2024 DHL report noted that out of 12,000 online shoppers across 24 countries, 37% of those survey indicated they purchased from Facebook, 28% from Instagram and 18% form TikTok. It is estimated in 2025 the social commerce market will reach approximately two trillion US dollars or approximately 28% of global online retail sales. The same report noted that online marketplaces such as Amazon, Shein, Temu & Ebay dominate market share, however, 52% of the those surveyed indicated that they do still use retailer’s app to make purchases. This suggests that there is enough incentive for retailers to develop and curate their own custom apps.
In addition to which, e-commerce payment methods are being redefined. Across major markets in the Americans, Asia Pacific and European regions, digital wallets are emerging as a growing staple of payment according to a 2021 Global E-Commerce Trends report by J.P. Morgan. In Brazil for example, cards represent the most popular payment method, however, digital wallets were expected to raise from 11% to 14% in 2024.
Similarly, digital wallets are the second most popular payment method behind cards and gaining popularity across Canada (19% raising to 23% in 2024), Mexico (21%) and the United States (26%).
In the Asia Pacific region, digital wallets are the third most popular payment method with 17% market share and across Europe digital wallets are very popular (Italy – 34 %, Portugal – 14%). Based on the report, PaylPal is the most widely used digital wallet for e-commerce purchases.
While these point to an ever-growing e-ecommerce ecosystem, there are many challenges that affect the e-commerce opportunities for MSMEs.
According to the World Economic Forum, MSMEs face the following logistics challenges such as uncompetitive pricing, lack of or unreliability of traceability, complex custom duties and tax calculations, lack of a cost-effective return policy and lack of last-mile delivery services.
In response to evolving global trends, the Agency has repositioned the Virtual E-Commerce Accelerator Programme (VEAP) to deliver a more streamlined, practical, and high-impact capacity-building initiative for Caribbean MSMEs.
E-commerce offers Caribbean businesses a powerful avenue for expanding beyond local markets. However, challenges such as high shipping costs, limited payment processing options, and low digital adoption have slowed regional participation in global digital trade.
This programme tackles these barriers head-on by providing a structured, results-oriented roadmap that supports SMEs through every stage of their e-commerce journey—from establishing online sales platforms and integrating payment solutions to managing logistics and fulfilling international orders. This initiative empowers Caribbean SMEs to seamlessly sell and ship products to customers worldwide.
Ultimately, the VEAP aims to drive a significant increase in e-commerce-driven exports from Caribbean SMEs, fostering a more digitally competitive private sector and positioning the region as a key player in the global digital economy.
The contracting authority for this assignment is the Caribbean Export Development Agency (hereinafter Caribbean Export/the Agency).
The primary beneficiaries under this project are the private sectors of CARIFORUM Member States, namely: Antigua & Barbuda, Bahamas, Barbados, Belize, Dominica, Dominican Republic, Grenada, Guyana, Haiti, Jamaica, St. Kitts and Nevis, Saint Lucia, St. Vincent & the Grenadines, Suriname and Trinidad & Tobago.
The overall objective of this initiative is to increase the number of Caribbean SMEs participating meaningfully in e-commerce by equipping them with the tools, training, and strategic guidance needed to boost online sales revenue by the end of their participation. In doing so, the programme will directly contribute to increased export capacity, enhanced digital competitiveness, and a more resilient and future-ready private sector. It will also strengthen institutional capacity by training BSOs to provide sustained support to MSMEs at the national level—ensuring long-term impact and regional scalability of the VEAP model.
This expansion comes at a critical time when the global e-commerce landscape is evolving rapidly. From the rise of social commerce and mobile shopping to the growing use of digital wallets and alternative payment solutions, consumer behaviors and market expectations are shifting. Meanwhile, MSMEs in the Caribbean continue to face structural barriers including high shipping costs, lack of access to digital payment options, and low adoption of digital tools. By addressing these barriers through a structured five-component roadmap—from e-commerce setup to scaling and international growth, VEAP will bridge the gap between knowledge and implementation. It will ensure Caribbean SMEs are not only digitally equipped, but commercially empowered to compete and thrive in the global digital economy.
The specific objectives of the Consultancy are:
The scope of works for this consultancy are:
The Virtual E-Commerce Accelerator Programme (VEAP) aims to increase the number of Caribbean Small and Medium-sized Enterprises (SMEs) engaged in impactful e-commerce and enhance their capacity to implement effective online sales strategies. The consultancy will be responsible for refining the programme’s content, recruiting and onboarding participants, delivering all online training and coaching, and monitoring the achievement of key objectives. By the end of participation, the VEAP aims to drive e-commerce-led exports from Caribbean SMEs. Ultimately, the consultancy will empower Caribbean SMEs to leverage digital trade as a driver of business growth and export expansion, positioning the region as a key player in the global digital economy.
The consulting firm will be responsible for the delivery of the following:
Deliverable 1: Inception Report, review e-commerce roadmap framework and draft work plan within 2 weeks of contract signing
Deliverable 2:
Deliverable 3: Programme Delivery and Facilitation. This entails, but is not limited to the following:
Deliverable 4: Submission of Post-VEAP Analysis Report to include, but not limited to the following:
Every deliverable must be presented to and reviewed by the Caribbean Export team, and recommendations made need to be addressed to the satisfaction of the parties before payment of the deliverable.
Twelve months, with payment based on deliverables.
Remote
To apply, please download the full Terms of Reference (TOR) and submit the required documentation:
Applicants should submit documents to Jonathan Seecharan, Innovation and Digital Business Officer at jseecharan@carib-export.com, copied to Wayne Elliott, Manager – Technical Programmes, at welliott@carib-export.com.
Jonathan Seecharan
Jonathan Seecharan, Innovation and Digital Business Officer
Email: jseecharan@carib-export.com,
Copy to:
Wayne Elliott, Manager – Technical Programmes,
email: welliott@carib-export.com.