The Small Business Association of Barbados is pleased to once again share key research data with our stakeholders on the micro, small and medium enterprise sector in Barbados. Our last publication in 2016 addressed those questions that have plagued our national conversation for some time on the quantitative and qualitative contribution of small firms to our economy. That 2016 data was used to provide comparative assessment of key variables for this year’s report.

During the past decade much has transpired to affect the business community, most notably were the COVID-19 pandemic, global supply chain disruptions on account of wars in the middle East and Europe, and several climatic events. It was therefore imperative that we assessed the state of small businesses today, with a view to identifying what effects those exogenous shocks had on the sector and what are the policy and programmatic responses needed to assist MSMEs to recover and grow. 

This report presents a consolidated overview of feedback from the business community regarding the 2026 National Budget. It highlights key concerns, emerging trends, and areas of opportunity identified by respondents, providing valuable insight into how current fiscal measures are expected to impact enterprise operations, investment decisions, and overall economic confidence.

The Ministry of Energy and Business has commissioned the adjustment to the National MSME Development Policy for Barbados. The original NMDP was developed in 2016, but since then, there have been changes in the business environment and across the world because of shocks such as COVID-19. As such, there is a need to “refresh” the framework to be more fit for purpose and to assist the development of innovative and sustainable MSMEs in the current business environment.

The Small Business Association (SBA) commissioned a national survey in 2015, of the micro, small and medium enterprise (MSME). This research project was necessitated by a general lack of sector specific analytical information upon which rational business and policy making decisions can be made.

The research project sought to “create an information resource base of relevant statistics within the small business sector, to inform key decision-making and lobbying actions by the SBA on behalf of MSMEs.” The specific objective of the assignment was to determine the status of the sector and its contribution to the Barbadian economy.