Above: Minister Denis Kellman
The small business sector is playing a key role in the recovery of the local economy in Barbados, Industry Minister Denis Kellman said at a speech to entrepreneurs in St Michael.
Much of that growth may come from the countries frontier areas, as the government has put in place a series of microenterprise grants, with a maximum of $3,000, that are available through the country’s Rural Development Commission.
“There is, and has always been, a clear relationship between small business and the economy, as much of the economic growth in most countries is fueled by start-up businesses.”
Kellman said he encouraged entrepreneurs producing similar products to come together and avoid the problem of attempting economies of scale.
“I suggest that this challenge can be overcome if entrepreneurs producing similar products come together and pool their expertise and resources,” he said. “Not only will production costs be reduced, but volume levels will be increased and maintained. The product will be available to consumers on a consistent basis.”
–Barbados Information Service