The leader of the local Chamber of Commerce is predicting a plunge into social degradation if business leaders, Government, unions and other stakeholders do not band together to stave off a looming crisis that could be catastrophic for the country’s most vulnerable.
In fact, President of the Barbados Chamber of Commerce and Industry Anthony Branker sounded an urgent call to action for businesses to put the survival of people and their livelihoods above turning out profits.
“The time has come where our business strategy in this small society can no longer be driven primarily by profit. We need to develop our support programmes where none of our children are hungry at school. We need to ensure that genuine cases of need can get sustainable help. We need to work with government to ensure that a basket of basic food items is affordable to all,” said Branker.
“This is the time for a call to action,” he said.
Branker’s impassioned plea for business leaders to join forces with Government in an attempt to provide support in several areas including finding ways to shield residents from rising inflation was delivered on Wednesday in his address to the 196th annual general meeting of the BCCI held under the theme Building Resilience and Sustainability Amidst the Tide of Global Uncertainties.
“I therefore appeal to the consciousness of our business community to let us partner with government to sustain the human development of our people and hence, create a viable future for all,” said Branker to his colleagues gathered at the Hilton Barbados.
He recalled that 2021 was a very difficult year for the business community and residents due to the COVID-19 pandemic. He said 2022 has turned out to be no different.
“We are at a most crucial crossroads in the future of our country,” Branker said. “We must ask ourselves what more can businesses do to buffer the fallout for the most vulnerable around us. Added to the exogenous circumstances, we also face wage restraint and skepticism in Barbados. How then can we support and partner with Government to ensure we all get through this period being a stronger and more resilient country, ensuring a viable future for all?” asked Branker, also noting the supply chain and COVID-19 related challenges and the issues relating to climate change and the rising cost of living.
Stressing that the focus must go beyond economic growth and take into consideration the safeguarding of livelihoods of those most at risk due to their social and economic circumstances, the businessman acknowledged that many families who were “hovering just above the poverty line” prior to the pandemic, continued to be severely challenged.
“This means that more and more families are forced to live with little or no means to adequately provide for their basic needs,” he said.
The chamber president reminded the meeting which was also streamed live, that business leaders play a major role in contributing to the economic, environmental and social progress of the country in which they operate and they should also be featuring the UN Sustainable Development Goals in their “discourses, strategies and plans”.
“All businesses, regardless of their size, sector, location or ownership and structure, should fully understand and embrace their social responsibility to contribute to the sustainable development of the people and communities that support their businesses,” said Branker.
He urged business leaders to develop support programmes and form strategic partnerships among themselves and with government to provide more training and job opportunities “to get at-risk youth off the blocks”. He warned that if urgent action was not taken more dreadful conditions could face residents.
Pointing out that he was aware some in the private sector would not agree with him, the Massy (Barbados) executive said the business community should also commit to private/public sector partnership in the provision of social support for residents and better support entrepreneurship development.
Acknowledging Government’s financial constraints at this time, he also noted that some labour unions are pressuring the administration for a pay hike for public sector workers and some private sector firms are facing the same demands. He questioned whether salary increases were the correct path at this point.
“No doubt, labour representatives for both the private and public sectors feel justified in their appeals for salary adjustments based upon the current inflation rates. But does this truly address the crisis we face? I suggest that we must now exhibit a level of collaboration for sustainability we have never envisioned,” said Branker.
“It will require temporary systematic change and this level of change requires collaboration among all stakeholders . . . We must protect this society that we love. I fully support the capitalist model and I support free enterprise, but if we fail to take appropriate action collectively now, then what is the alternative? Social degradation, I declare,” said Branker.
marlonmadden@barbadostoday.bb
