Symmonds suggests amnesty for small business

Small Business Minister Kerrie Symmonds on Monday urged a finance ministry amnesty on small business owners so they can register their businesses

Speaking as the House of Assembly examined the 2021/2022 Estimates where his Energy, Small Business and Entrepreneurship Ministry is seeking an appropriation of $34,036,836, Symmonds said the COVID-19 pandemic had highlighted the need for businesses to pay benefits to the National Insurance Scheme.

He pointed out that while an amnesty was the purview of the Ministry of Finance, there was a need to encourage those unregistered businesses to come forward.

The minister for small business made the comments in response to Minister in the Ministry of Foreign Trade Sandra Husbands who suggested some owners were eager to register their businesses but were afraid of being penalized by Government.

Symmonds said: “I generally feel that the lesson we have learnt over the last few months, especially the period of this second pause, has been that there are a number of businesses functioning in Barbados in a very limited space in terms of financial wiggle room to the extent that they are seeing profits on very slender margins.

“The reality is that what we have recognized is that there was a reluctance on some people’s parts to come forward and therefore it was not a consideration for assistance given at this time, but it is important for all companies and businesses to register…it is exceptionally important,” Symmonds maintained.

He said Government could not provide help in the way it wanted because “there is no fund being financed by the same community of working population that we are being called on to lend assistance to.”

Symmonds said an amnesty would be beneficial.

“My personal feeling is that if we want to get people to come forward it may well be as we have had to do in other sectors of society, an amnesty type of circumstance may have to be looked at to invite people to come in and have the kind of discussion we want them to have so that we can put them in a position where we can assist,” he said.

Symmonds also made it clear that fisherfolk, fishermen and taxi operators were in line to receive assistance from Government for the four-week lockdown period.

The minister said while there had been a delay in the payment of monies, he assured they would be paid.

Symmonds said $10 million had already been secured via two supplementary appropriations to provide assistance to those persons and businesses.

He disclosed that 7,700 people had applied to date.

“The reality is that it is continuing and yes it takes a little time but I am very satisfied that people are getting paid. It is not an overnight thing, it is not a fast food business. We are sensitive to the fact that it was meant to assist people in their hour of need but just as with the care packages exercise it is not a perfect system but we are trying our best to make sure there is delivery as quickly as possible even as we must dot Is and cross Ts,” he explained.
(RB)