About the SBA

Background/ Overview

The Small Business Association (SBA) is the island’s, non-profit representative body for micro, small and medium enterprises. The organisation was registered as company no. 3508, and incorporated on March 31, 1982. The company was re-established in 1993 following a dormant period during the mid-1980s, and officially opened its Secretariat in December 1995. The SBA seeks to expand business opportunities for its members, provide education & development services and lobby to ensure an enabling environment for the growth and sustainability of the SME sector. The SBA also explores business financing possibilities for its members. The Board of Directors is headed by the president, Mrs. Celeste Foster.

The guiding principle of the SBA lies in its core philosophy, which holds that working together provides the best opportunities for businesses to grow. The organisation seeks to establish honest, committed relationships in a spirit of aggressive endeavour and mutual support, pooling its resources – skills, time, and finances – to create a more powerful financial future for the SME sector. Over the years, this intrinsic philosophy has seen the BSBA reap immeasurable success in its efforts to lobby Government for the creation of an environment in which the SME sector could continue to grow and develop. One of the major outcomes of these efforts has been the provision of micro-business financing and increased access to equity funding for micro, small and medium enterprises.

In order to facilitate the implementation of its broad mandate, while contributing to its own sustainability a wholly owned subsidiary company has been incorporated by the SBA.

The Small Business Venture Capital Inc. (SBVCI) was incorporated in 1997 and is registered as company #11740 under the laws of Barbados. The company was capitalized using US $1 million dollars donated to the SBA by the Government of Barbados. The SBVCI makes equity finance available to qualifying businesses.

Additionally the SBA has a Satellite Office established to decentralise the services for the Association in rural communities. The office is located in Six Roads, St Philip.

Vision Statement
The SBA will be the national organisation of choice for entrepreneurial development.

Mission Statement
The SBA will facilitate the sustainability of micro, small and medium enterprises through the provision of educational, financial, and commercial opportunities and will strengthen the policy environment of the SME sector through effective lobbying.

Values
In all of our relationships with stakeholders, we demonstrate our commitment to:

• Leadership: We will be the leading Association for micro, small, and medium enterprises in Barbados. We will lead by example in management performance, teamwork, establishing and maintaining strategic alliances, introducing timely and relevant products and services for members, and in our financial results.
• Members First: Satisfied members are essential to our success. We will achieve high levels of member satisfaction by understanding the needs of our members, and delivering quality products and services consistently reliably and efficiently.
• Integrity: We will practice high ethical standards, and honour our commitment to our stakeholders. We will take personal responsibility for our actions, and will treat all individuals with dignity, trust and respect.
• Quality: We aim for continuous quality improvement in our day-to-day operations, so that we will become the Association of choice for micro, small, and medium enterprises in Barbados.
• Reliability: We will assist members in developing sustainable micro, small and medium business and be counted on to represent the issues that are critical to our members and stakeholders.
• Interdependence: We recognize that our ability to meet the needs of our stakeholders lies in our ability to work well in teams. We will engage in continuous education, the sharing of ideas and knowledge among our employees. We will also encourage cooperative efforts at all levels in the Association.
• Outcomes Driven: We will clearly define the outcomes we are targeting and ensure that our programmes, processes and policies are aligned in achieving them.

Our Objectives

• To facilitate the real and sustained socio-economic growth and development of the small and medium business sector in Barbados.
• To enlarge business opportunities for its members;
• To provide services for better business practice including accounting, management, marketing, human resources and legal services; and
• To explore additional business financing for members.

Some of Our Achievements

• Successful lobbying for the provision of micro business financing
• Increased access to equity funding for small and medium enterprises
• Members of the SBA can access group health insurance,
• Free education and training
• A substantial programme of discounts