While lauding the good work being done by L&N Workshop Inc., Minister of Commerce and Small Business Development, Donville Inniss, acknowledged that it was suffering the effects of the current economic downturn.
Inniss made these observations today during an interview with a team from Barbados TODAY.
The minister, accompanied by senior members of his ministry, had just completed an extensive tour of the Cane Garden, St. Thomas, plant.
Inniss said: “I commend the management of L&N for holding strain and working with the Government. Clearly as my predecessor in office, Denis Kellman, had indicated before, Government is committed to assisting small businesses and in this case the Barbados Investment and Development Corporation will work with them to provide technical assistance to upgrade their facilities.
“The truth of the matter is, there are some Government agencies that are indebted to the company and where there are delays in state agencies making payments, that naturally has an effect on the businesses cash flow.”
He acknowledged that there were the natural challenges small businesses experienced with financial institutions in getting funding for plant and equipment. Inniss repeated that based on the outstanding work being done by the company it merited Government assistance and he promised to offer this assistance through the BIDC.
The minister gave the assurance that the assistance will be offered in the coming months. Inniss said he had seen some of the work done for the Barbados Water Authority and the Transport Board and he maintained that the company should be commended because it is a local company, staffed by local workers, competing with foreign companies and therefore merited some government assistance.†(NC)†