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Blog | Barbados Small Business Association

LACK OF FUNDING COULD HINDER YOUTH DEVELOPMENT

Even amidst the current economic strains and substantial cut-backs in public and private funding, one organisation has secured some assistance for another year to implement a national youth development programme. “But it was not an easy feat”, says CEO of the Small Business Association, Lynette Holder, who is concerned about the trending lack of support [...]

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The BEF $20 Challenge

   The BEF $20 Challenge – Entrepreneurial Competition for Secondary School Students. As part of our mission “To unlock and develop the talent, creativity and innovation in Barbadians of all ages in order for Barbados to become the #1 Entrepreneurial Hub in the World by 2020”, the Education and Talent Development Pillar of the Barbados [...]

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Small Business Week 2011

The Small Business Association (SBA) is in the advanced stage of planning for Small Business Week 2011, which will be held under the theme “Catalysing Entrepreneurial Development Through Sustainable Networks”.  This was announced during the recently held launch for the week of activities, which runs from September  18 to 24. The week will begin with a thanksgiving concert [...]

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Strategic Goal for Growth

Barbados is now in its fourth year of a recession which has affected the opportunities for our young. Every year between 3 000 and 4 000 people graduate from schools, colleges, universities and other institutions of learning, seeking opportunities to enter the career of their choice.  We now have some 12 000 to 16 000 [...]

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Major Concerns in Regional EPA Implementation

 THERE are four main concerns in terms of the slow rate at which the Economic Partnership Agreement (EPA) is being implemented in the Caribbean. These major concerns were highlighted at the first of three EPA workshops scheduled for this year. The workshops are the project of the Barbados Small Business Association and, at the [...]

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SMEs – Still the Catalyst for Economic Growth

  In both developed and developing economies the major contributor to economic growth and employment creation continues to be small and medium enterprises. Across all industries and sectors, SMEs are shown to be flexible, a significant foreign exchange earner and employment generator – particularly women and vulnerable groups. Yet despite these irrefutable facts SMEs still [...]

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Small Contractors Need More Opportunities

  With regard to the Caribbean Contractors and Construction Incorporated (CCCI), there has not been the kind of success to date relative to the awarding of tenders.  So said Lynette Holder, CEO of the Barbados Small Business Association (BSBA).  However, she noted some light at the end of the tunnel for such businesses, noting, “The [...]

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The Need for a Success Mentality

When such a question is asked, the response will certainly be fuelled by one’s own experience within the sector and capped with the many stories and myths we have heard over time:  The rush of emotions associated with the many obstacles and challenges we as entrepreneurs operating small businesses encounter almost justify our desire to [...]

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The Barbados Small Business Association has done it again.

The Barbados Small Business Association (BSBA) has done it again.  In collaboration with the Bank of Nova Scotia the association added to its training programme a series of workshops focused on addressing key managerial deficiencies within small business operations.  The workshops sponsored by the bank and facilitated by their experienced staff commenced last week at [...]

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How to Acquire Wealth

  Be unconventional but rational. This was the view put forward by Michael Lee Chin, a Jamaican born Canadian based investor, to the audience at the February luncheon seminar of the Barbados International Business Association (BIBA) at Hilton, Barbados. His presentation was titled, “Prosperity through Challenging Conventional Paradigms.”   He questioned how many time we do [...]

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  • Business Tip

    • Set a target date

      Whether it's in two years or 10, establish a specific date when you'd like to leave the business. This creates a tangible goal, with milestones and accountability, that will ensure you stay on track. Keep in mind that while a set date is critical to goal achievement, it can (and ...

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    • Secure counsel from a team of advisers

      Exit planning requires the counsel of trusted advisers from different disciplines. This team should minimally include your CPA, a business and estate attorney, a financial adviser, and an exit planning specialist who will coordinate the process and create a holistic game plan.

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    • Write a plan and review annually

      Change is constant. Economic conditions or a myriad of other factors can bring new influences and impacts to your life and on your business. Be proactive and review your exit plan each year with your advisers to determine if any adjustments are necessary.

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