The president of the Barbados Small Business Association, Senator Sandra Husbands is calling on financial institutions to offer more support to small businesses.
Saying that small entrepreneurs are making a significant contribution to the local economy, Senator Husbands remarked that financial institutions should help players in this sector to become more successful.
She said that so significant are the small business sector’s contributions to this country that should many of them go out of business the losses to the economy would be significant.
“So let us imagine that in the small business sector some 1,000 of them shut down. That represents a loss of US$11.0m per month to the economy,” Husbands said.
The BSBA President said that over the years financing of small business in Barbados has been an experience of fear for entrepreneurs and frustration for finance institutions.
