Chamber of Commerce optimistic about 2023

The Barbados Chamber of Commerce & Industry (BCCI) in its 197th year continued its mission of being the trusted voice for the business community in Barbados. We sought to influence through advocacy and the vigorous participation in policy development and implementation that enhanced the socio-economic and business environment for all Barbadians.

During 2022, the COVID protocols were gradually relaxed, but the threat is still with us. The BCCI took advantage of the relaxation of protocols and hosted in-person events that contributed to facilitating our ongoing advocacy and, no doubt, the camaraderie, and opportunities for networking for members of the business sector. These events included our Annual Business Luncheon and Discussion with the Prime Minister, Hon. Mia Amor Mottley, B2B Mix ‘n Mingles, our 197th Annual General Meeting and our inaugural Renewable Energy Expo where the Chamber shared information on the advances and benefits of renewable energy and the key actions required for Barbados to achieve its 2030 renewable energy efficient goals.

Members responded outstandingly well to the initiatives and activities hosted by the Chamber during the year. Without our loyal, supportive and committed members, we could not have achieved the results we did. So, on behalf of the Executive Council of the BCCI, I would like to thank all the members for their support over the past year. We sincerely thank you!

As we reflect on the year 2022, it was no doubt an extremely challenging one for all Barbadians. We continue to live in a very turbulent world and the effect of this unstable environment continues as we enter this new year. Supply chain challenges, along with the high cost of freight, made it difficult to maintain the cost of goods and services. Compounding this was the war in Ukraine and the severe impact it had on the world’s pricing of basic commodities. Inflation and the rising cost of living were on the lips of every Barbadian and, regrettably, on some occasions, the business community was accused of being the cause of these increases.

The “Voice of the Business” community was heard loud and clear in Barbados through the Chamber during the year. The BCCI, in response to Government’s efforts to help ease the impact of the rising cost of living on Barbadians, led the negotiation with Government to establish the Social Compact which limited the markup on a basket of items. We laud the members of the Chamber, particularly retailers and distributors, who have continued to adhere to the terms of the Compact, while faced with the impact of supply chain challenges on their businesses.

It is anticipated that 2023 will continue in the mold of 2022 as long as the world continues to be in such an unstable state. We, however, plan on increasing our relevance to the business community as we seek to build on the gains of 2022. We will seek to be “top of mind” as we enhance other areas of collaboration for all our members and continue to develop harmonious approaches to business solutions.

We foresee working with Government directly and at the social partnership level in carving out the way forward for business and all Barbadians.

The BCCI anticipates this new year with confident optimism. We look forward to being relevant to all our members as, together, we seek to build a stronger business ecosystem. We will continue to advocate for all sectors of business in Barbados, as we did in 2022.

We appreciate the support received from other business support organizations, from our members, and from our key stakeholders in the public sector.

The BCCI Council, Secretariat and Committees, wish you a Happy and Prosperous 2023.