SBA’s Chairman, Mr. Neil Corbin shared his perspectives during the opening session at the 4th annual State of the Sector Conference September 2022, under the theme – “Exploring the Digital Frontier; the Next Business Revolution”.

Fellow Barbadians, as Senior Minister coordinating the Productive Sector, and Minister of Energy and Business, I welcome this opportunity to celebrate with you as we mark the start of Small Business Week, for the year 2022.

It is no secret that the COVID-19 pandemic has had a deleterious impact on the global economy, resulting in a high increase in unemployment locally. To combat this financial difficulty, many persons have opened their own businesses in an attempt to make ends meet. However, this increase in small businesses has been met with a decline in consumer spending as the depressed state of the economy continues.

As the Christmas season approaches, many are planning the usual painting of the house, baking the ham and preparing the seasonal treats such as black cake, jug-jug and sorrel drink. Given the challenging 22 months we have experienced due to the COVID-19 pandemic, Barbadians can definitely benefit from a refreshing season and a time to share with family and friends. Some have even posited that we are experiencing COVID fatigue. What better time for a paradigm shift mentally, than Christmas?

Continuing the dialogue on globalisation started during Small Business Week 2021 at the State of the Sector Conference, the SBA held a recent webinar under the theme “Locally Developed Global Reach – A Discussion on Exporting your Business.” 

The Small Business Association is fully aware that access to financing in the region has been one of the major impediments to growth for small businesses. As a result, the association has lobbied and encouraged policymakers to consider the provision of grants and stimulus support to firms, especially in this COVID-19 environment.