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Democratic Labour Party Manifesto 2003
Manifestos » DLP Manifesto 2003» Small Business
Small Business « previous | next » 
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Throughout our history, in the good times and the bad, it has been that spirit of entrepreneurship - that 'never say die' and 'I will survive' attitude - that has defined us as a resilient people. The impact on the socio-economic fortunes of our country, by persons setting up businesses; the corner shop, wayside vending, landscaping and now desktop publishing for example cannot be underestimated.

Equally and more importantly however, this small and emerging business sector has the greatest excess capacity to increase employment, for we know that additional funding with as little as $15,000 may generate additional employment in the small business sector quickly - whereas this would just be seen as a mere cash flow injection for larger businesses.

It therefore requires an enlightened and responsive government to recognize that in the face of the current economic challenges, our country must find a more innovative and equitable way to grapple with the concerns of this all-important sector.

Their concerns are bounded up in five broad areas:

  1. The need for adequate and accessible financing.
  2. The lack of a supportive environment that significantly reduces red tape
  3. The absence of necessary professional support services.
  4. The availability of markets.
  5. The lack of a facilitative tax environment.

As the leading political party in Barbados, whose agenda has always been the total advancement of the masses, it is imperative that the Democratic Labour Party responds to these concerns.

Our national objectives for the sector will include:

  • Encouraging the growth and development of small and emerging businesses by creating an enabling environment, and provision of a regime of fiscal incentives specifically tailored for the sector.
  • Providing for the sector, windows of opportunity for tax concessions like those now provided to overseas investors.
  • Ensuring that this sector benefits from a fair share of Government contracts - 40% of all contracts will be reserved for small businesses.
  • Establishing a national research and development institute to enhance the capabilities of the players in this sector in the areas of product development and market research so as to position them to meet the challenges of globalisation.
  • Consolidating the several funding institutions under one corporate
    board to be constituted with business men and women, who will be responsible for the analysis and approval of loans. The Commercial bank mentality and culture is the biggest hindrance to small business development and financing.
  • Introducing "KICKSTART" - a programme of start-up subsidies for small and micro businesses. For companies with ten employees or less we will pay NIS contributions for both employer and employee in the first year.
  • Regulating the interest rates and other charges imposed by Government and other financial institution for small businesses.
  • The interest rate charge will be 2% above the savings rate set by the Central Bank for a period to be determined but not less than 3 years.
  • Construct along the ABC Highway on government land, in close proximity to the Warrens Business area, a small business mall for approximately 25 shops. The small Barbadian entrepreneur must get A Fair Share of this growing economic zone.

We have devoted an entire section to this sector, to demonstrate the importance we place on its development. The framework established is not static but dynamic in outlook and is consistent with the DLP's national goal of A Fair Share For ALL.

VENDING

As employment opportunities have contracted, people have become more self-reliant.

The "vendor" or "hawker" today is not only restricted to the old lady coming to town on the first bus with her tray and big baskets. We now see the vans and 4-wheel drives.

Vending is an honourable trade, cutting across economic barriers. The Democratic Labour Party believes that to turn people into "criminals" dragging them before the courts, and having their pictures splashed across the newspapers, for plying their trade, is both degrading and dehumanizing.

We will:

  • Abolish vendor licenses.
    All can sell, but not anywhere they like.
    We will provide more markets and establish designated areas.

To alleviate the congestion and need for access to high traffic areas, we will:

  • Develop on government land - or acquire where necessary - two permanent Craft and Flea market sites along the ABC highway. One will be sited near Hothersal/friendship area.

With international assistance and financial aid, we will extend the Charles Duncan O'Neal Bridge eastward as a pedestrian mall, over the careenage, providing vendor kiosks and access to the ZR, Minibus and Fairchild Street bus terminals.

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Key
  Bajan Free Party   NDP = National Democratic Party   United Progressive Party
  Barbados Integrity Movement   People's Democratic Congress   WPB = Workers Party of Barbados
  Barbados Labour Party   PEP = People's Empowerment Party   Independent Candidate
  Democratic Labour Party   PPA = People's Political Alliance   *incumbent
  Kingdom Government of Barbados   Solutions Barbados   ** Political Leader
Sources
Barbados Electoral and Boundaries Commission
Bajan Free Party (2018). Retrieved from https://www.facebook.com/Bajan-Free-Party-BFP-HonAlex-MitchellEl-1767331239973521/
Barbados Integrity Movement (2018). Retrieved from https://www.facebook.com/barbdaosintegritymovement/?ref=py_c
Barbados Labour Party. (2018). Retrieved from https://www.blp.org.bb/
Coalition of United Party. (2018) Retrieved from https://www.facebook.com/alexmitchell.el/
Democratic Labour Party. (2018). Retrieved from http://dlpbarbados.org/site/
Solutions Barbados. (2018). Retrieved from https://solutionsbarbados.com/
United Progressive Party. (2018). Retrieved from https://uppbarbados.org/
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