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Small businesses on the rise in spite of economic challenges
SMALL BUSINESSES continue to increase despite challenges posed by the current recession.
President of the Barbados Small Business Association (SBA), Celeste Foster, reported an increase of more than 400 members during the past year, just 15 per cent below the SBA’s target of 500 for the period.
Speaking at the launch of Small Business Week 2009, at the SBA’s Pelican Industrial Park offices, Foster said membership growth had been recorded even in the face of challenges such as layoffs. She saw this as proof that small business grew while big businesses tended to fail in times of recession.
The SBA president welcomed strategic business alliances and support from corporate partners like Scotiabank, which is working with SBA for Small Business Week.
Scotia’s senior manager, marketing, Tony Phillips said the bank’s commitment would be reflected across the range of activities in which it would be engaged during Small Business Week which runs from September 20 to 26.
“We are committed to helping them to meet their top business goal - to grow sales and revenue, and to overcome major challenges such as improving cash flow, managing debt as well as costs,” Phillips said.
There will be a careers showcase at the SBA’s Pelican Park headquarters during the week, at which CEO Lynette Holder will help students to develop an appreciation for the world of work, and for various sectors of industry. (GC)