The Small Business Association (SBA) should be accredited and a set number of Government projects should be made available to small businesses.
This recommendation came from SBA president Dalton Medford as he delivered remarks at the opening of a workshop today at the Grande Salle of the Central Bank. The theme was Access To Finance: Debunking The Myths, Developing The Solutions.
“The Small Business Association should be accredited just like the [Barbados] Hotel [& Tourism] Association where every small business person comes through the SBA in order to access Government assistance,” said Medford.
“And it doesn’t make sense for the Government to give us assistance and don’t give us work. It is my belief that small businesses should be granted some percentage of Government contracts. I don’t want to state a percentage but some percentage of Government contracts should be set aside for small businesses so that they can be sustainable.
“If you give us money and we set up institution and we don’t have access to work or access to market then we are just throwing away money,” he added.
Medford pointed out too, that all businesses should see themselves as exporters, adding that “if collectively everyone aim to export I am sure we would not be faced with the problem we face at present”.
During the one day seminar, officials are expected to identify issues surrounding the funding of micro, small and medium enterprises as well as come up with solutions, best practices and recommendations for businesses, Government and financial institutions
in that regard.