SBA to push for greater visibility of MSMEs

The Small Business Association (SBA) said Friday it’s depending on transformation and innovation to help its membership cope with the challenges of the COVID-19 pandemic.

But as the association prepares to observe Small Business Week, SBA president Neil Corbin said the association will continue to fight for greater attention to be given to addressing the needs of micro, small and medium-sized enterprises (MSMEs) and recognition for their contribution to the economy.

“Despite the challenges we remain determined to succeed,” said Corbin during the official launch of the SBA’s Small Business Week on Friday.

“We feel strongly that greater focus has to be placed on the MSME sector at this time to assist with the transformational efforts needed to recover economically.

“It must become a reality that special attention is given by governmental leaders to not only transform the sector at this critical time of global depression, but be instrumental in creating a ‘flight plan’ that will secure a positive growth curve into the coming years. The small business sector must grow and perform positively in the coming years.”

Small Business Week will begin on Sunday, September 19, with an online church service with the New Dimension Ministries at 8:30 a.m.

The theme this year is Building Back Better: the Road to a Resilient and Resourceful Recovery.

A state of the sector conference will be held on Tuesday, September 21 at 9:30 a.m., which will be followed by the SBA Youth Forum on Wednesday, September 22 at noon.

The SBA awards and networking event will take place on Friday, September 24 at 5 p.m.

The association has also launched a special promotion – Follow us to Small Business Week – that will give stakeholders a chance to win prizes during the week of activities.

During the pre-recorded launch, several SBA member companies looked back at the past year, recalling some of the challenges they faced and how they managed to change their business models and be more innovative to overcome those challenges.

The business people also expressed their gratitude to the SBA for its training and other technical support that helped keep them afloat.

The SBA has more than 1,600 members and several group members.

Dr Erica Smith, Chief Executive Officer of the Copyright Society of Composers, Authors and Publishers (COSCAP), said with very few events over the past year and a half, revenue was significantly down for the organization and those it represents.

“We really had some challenging times. Not only did the organization had to deal with these challenges, but also our members. Members of the entertainment community locally have had an extremely difficult time,” said Smith.

“COSCAP had to quickly relook its processes so that it became a more digital organization functioning remotely while keeping the standard of our services to the highest level. We also had to find ways to assist our members and we did this by paying royalties earlier than we normally would and paying what we call allowances and top-ups to assist members. We also established specific funds to help those in especially dire situations.”

She said COSCAP has also been offering its clients concessionary rates, discounts, waiver of fees and payment plans.

“So far, I must say that everyone seems keen to play their part. We have to be there to help our entertainers and COSCAP is committed to that cause,” said Smith.

Jewel Godette of Courtyard Caterers said “COVID 19 has dealt us a blow but that did not stop us from doing what we have to do in order to stay afloat”.

She pointed out that the 50-year-old catering company had to quickly switch things up by offering more curbside pick-up and new menu items.

Graphic artist Kathie Daniel of Southpaw Grafix, said the coronavirus pandemic has created “a nightmare for pretty much everyone I have come in contact with”.

“The good side of a crisis however, is that it can, in some cases, push people into making changes that they perhaps could have made earlier,” she acknowledged.

“In my case, one of the things I was able to do was to implement my online print shop and utilise the purposes of a courier for pick-up and delivery of the finish product . . . and you can even pay me via the online banking. So I have really embraced the technology of the 21st century.”

SBA chief executive Senator Dr Lynette Holder said despite the challenges of the past year and five months, she was proud of the number of businesses that took advantage of opportunities to stay afloat.

She said the SBA was determined to continue to highlight the contribution of MSMEs to economic and social development.

Pointing to this year’s theme and logo for Small Business Week, Holder said it reflected the current reality of the MSME sector, stating that there needed to be transformation in the business community, with a focus on resilience.

Holder said the theme and logo represented what the journey to recovery must entail including building networks and looking to the creative sector, blue economy and technology to help drive economic growth.

“We are on a journey. We are on a road towards recovery,” declared Holder.
(marlonmadden@barbadostoday.bb)