Business View Caribbean - July 2024

of skilled labor by targeting markets with higher demand. “This realization led me to step back from construction and focus on supplying speciality trade tradespeople within the Caribbean,”O’Neal explains. The British Virgin Islands, with a small population of about 30,000, cannot sustain a high demand for tradespeople.“If you have five projects in the British Virgin Islands, you’re doing extremely well,” he notes. “There are a lot of plumbers and electricians out of work because there isn’t a high demand here.” Plugworks BVI’s strategy is clear: leverage the surplus of tradespeople in the British Virgin Islands to meet the needs of other Caribbean islands and beyond.“We invest our time and money in securing tradespeople and supplying them,” O’Neal emphasizes. This investment ensures that Plugworks BVI remains a reliable partner for any project requiring MEP services across the Caribbean. SUPPLY CHAIN AND WORKFORCE DYNAMICS Securing a steady supply of materials and skilled labor is paramount in the construction industry. For Plugworks BVI, these elements have unique challenges and advantages. CEO O’Neal explains. “Shipment of materials isn’t a problem,” he reveals. “The British Virgin Islands have limited access to certain materials, so we must outsource from places like Puerto Rico and Miami.” While basic materials such as PVC and copper are readily available, specialized plumbing and electrical work materials can present hurdles. “We source the materials overseas, and they ship it to us within a week,” he adds. The real challenge lies in sourcing specialty items required for specific projects, like fire safety components. As Plugworks BVI looks to expand its MEP services beyond the British Virgin Islands, O’Neal is open to various project types. “I say all three—commercial, residential, and industrial—because of the level of skilled labor that I have,” he asserts. The company sources tradespeople from various Caribbean islands and beyond, including Jamaica, Guyana, and the Philippines. The company’s revenue growth reflects its evolving business model. “I got my license in June 2020. We started with about $30,000, then it went up to $50,000,” O’Neal shares. However, the revenue growth is limited by the availability of work, not the availability of skilled tradespeople. “There is not enough work for the skilled plumbers,” he notes. This dynamic makes the British Virgin Islands a transition hub for skilled tradespeople.“It’s cheaper for a contractor in Antigua or the Cayman Islands to come to the British Virgin Islands, get those guys, and then go where they have to go,” O’Neal explains. Plugworks BVI positions itself as a supplier of these tradespeople, investing in securing and retaining skilled labor to meet the demand across the Caribbean. PROJECTED GROWTH AND STRATEGIC EXPANSION As Plugworks BVI continues to navigate the intricacies of the construction industry, CEO O’Neal has a clear vision for the company’s future. “In the next 18 months, I see my company expanding and growing in the British Virgin Islands,” he states confidently.This growth is fueled by the influx of new projects and the increasing recognition of Plugworks BVI’s capabilities. “We are growing in number when it comes to skilled labor,” he adds, emphasizing the natural progression of the company’s development. The strategic plan involves securing more projects and obtaining licenses to operate in additional Caribbean islands.“With this new influx of jobs that I’m currently bidding and tendering on, I see myself being financially able to get a different license in the target Caribbean islands,” O’Neal explains. Despite the slow process of gaining traction in new regions, he is optimistic about the future. “We are reaching a point in my company’s career where we are getting recognized and have some big offers on the table,” he says. Among these opportunities is a significant hotel project, signaling a promising horizon for Plugworks BVI. O’Neal strategically brings in skilled tradespeople as needed to manage the increasing workload. he 33 BUSINESS VIEW CARIBBEAN VOLUME 11, ISSUE 07 PLUGWORKS BVI