SMALL BUSINESS AS AN ELIXIR

At a time of prolonged economic downturn and the clarion call for greater focus on growth strategies to resuscitate the Barbados economy, the Small Business Association has again signaled the small business sector as a possible solution for growth and recovery.  

This prescription came by way of the theme for the 11th annual Small Business Week, “Small Business as an Elixir for Economy Recovery.” The association consistently posits the view that small businesses had the innate potential to catalyse an economy to new levels of growth. These businesses are flexible, are found in all areas of trade, and due to the ease in market entry and low overheads, were able to leapfrog domestic circumstances and quickly expand into export markets. The changing business environment, from brick & mortar to an internet driven climate, further strengthened the growth prospects for the small business. Research also consistently showed that these firms were significant contributors to employment creation with the ability to grow and/or reduce the use of foreign exchange. 

In light of the considerable potential the sector has in the economy, the SBA is hoping to raise the national dialogue with this year’s week of activities and to encourage policy makers, financiers and business support organisations to create the ecosystem needed to engender small business growth. 

Small Business Week will be organised through the support of title sponsor, First Citizen Bank, other sponsors and contributors, and will feature six events to educate, enlighten and entertain stakeholders. A key activity of the week is the business awards where members of the association will be recognised for their business management ability, the contribution to employment and overall economic growth. The events for this year’s Small Business Week include:

  • Sunday, September 21 – Church Service
  • Monday, September 22 - V Annual Leo Leacock Memorial Lecture
  • Wednesday, September 24 – Youth Forum
  • Thursday, September 25 – Promotional Bus Tour
  • Friday, September 26 – 20/20 Cricket Match
  • Saturday, September 27 – Awards Ceremony & Dinner

 

The week of activities will be held from September 21 -27, 2014 and most events are open to the public.