CDB chief makes case for MSMEs

(Barbados Today) Investment in  is the key to unlocking economic growth in Barbados and the Caribbean, the president of the Caribbean Development Bank, Dr. Warren Smith, has declared, as he called for more attention to be paid to MSMEs.

In a speech this morning at the Small Business Association’s (SBA) State of the Sector Conference at the Lloyd Erskine Sandiford Centre, Dr. Smith maintained that MSMEs were essential for the country’s and the region’s long-term growth and development.

The regional market alone gives MSMEs immediate access to just over 18 million consumers under the CSME. The prospect of this should whet the appetite of enterprising business owners, notes CDB President Dr. Warren Smith. pic.twitter.com/bfN4L3NffN

— CDB (@Caribank) September 17, 2019

“[MSMEs] are the backbone of the private sector and are key drivers of economic growth, and social inclusion in Barbados.

“Their importance for this island’s long-term growth and development is undeniable,” he said.

MSMEs “are the backbone of the private sector and are key drivers of economic growth and social inclusion.” – CDB President Dr. Warren Smith at @SBAofBarbados State of the Sector Conference. #SmallBusiness #MSMEdevelopment

— CDB (@Caribank) September 17, 2019

A 2016 SBA survey showed that MSMEs accounted for approximately 92 per cent of formal enterprises and over 60 per cent of private-sector employment.

Read more at: Barbados Today

Source: CARICOM TODAY