Act now to stay competitive, says BIBA president  

Barbados risks being left behind unless it embraces bold, forward-looking leadership in an increasingly unstable global landscape, the president of BIBA, the Association for Global Business, Marlon Yarde,warned on Thursday.  

In welcome remarks to the sixth Annual Barbados Risk and Insurance Management Conference at the Wyndham Grand Barbados, Yarde said the nature of risk facing countries and businesses had fundamentally changed, requiring a shift in how decisions are made.  

“We convene at a moment of heightened global uncertainty. Climate volatility. Geopolitical tensions. Economic realignment. Cyber threats. Technological disruption. And dare I say, wars and rumours of war,” he said.  

“These forces are not emerging risks — they are today’s operating realities.”  

Against that backdrop, Yarde argued that risk management could no longer be confined to technical specialists but must become a central leadership responsibility.  

“In such an environment, risk management is no longer simply a technical discipline. It has become a leadership discipline,” he said, adding that decision-making under uncertainty now defines effective leadership.  

He cautioned that hesitation carries its own consequences, stressing that delayed action can undermine both resilience and competitiveness.  

“Not deciding is, in fact, a decision,” Yarde said. “Leaders are accountable not only for the decisions they make — but also for those they defer.”  

He outlined the risks associated with inaction, warning that when decisions are postponed, “risks compound, opportunities narrow, costs escalate, [and] strategic positioning weakens”.  

“In short, indecision itself becomes a risk,” he added.  

Yarde said this reality holds particular significance for small, open economies such as Barbados, where exposure to external shocks requires deliberate and forward-looking strategies.  

“This is particularly true for small, open economies like Barbados — where resilience must be built deliberately and strategically,” he said.  

Over the next two days of the conference, participants will examine issues including cyber risk, climate exposure and sovereign ratings, with Yarde stressing that the discussions are practical and focused on decision-making.  

He warned that maintaining Barbados’ position in global business will require continuous effort.  

“Leadership is not static. Leadership must be renewed through innovation, strategic positioning, regulatory responsiveness, and decisive action,” he said, stressing that effective risk management “requires leadership… that is forward-looking, decisive and builds resilience.”