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.
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.
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.
concerns are bounded up in five broad areas:
need for adequate and accessible financing.
lack of a supportive environment that significantly reduces
absence of necessary professional support services.
availability of markets.
lack of a facilitative tax environment.
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.
national objectives for the sector will include:
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
for the sector, windows of opportunity for tax concessions
like those now provided to overseas investors.
that this sector benefits from a fair share of Government
contracts - 40% of all contracts will be reserved for small
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.
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.
"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.
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.
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.
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.
opportunities have contracted, people have become more self-reliant.
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.
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.
All can sell, but not anywhere they like.
We will provide more markets and establish designated areas.
the congestion and need for access to high traffic areas,
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.
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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