Friday, Nov 16, 2018

SME challenges

SME challenges
09 Nov
2018

The new president of the Small Business Association is encouraging Barbadians to take advantage of government's ten million dollar Trust Loan programme.

Wayne Willock is telling entrepreneurs that the fund provides an opportunity for them to expand their endeavors.

Under the Trust Loan programme, entrepreneurs can access loans of up to five thousand dollars at a minimal interest rate of between 1.5 to two percent.

Mr Willock who was speaking during the SBA graduation ceremony at the Grande Salle highlighted a few concerns he says will directly affect small and medium enterprises going forward.

Mr Willock encouraged the graduands to embrace the graduation theme, Maximising the Economic Return on Education

Parliamentary secretary in the Ministry of Education, Technological and Vocational Training, Senator Dr Rommel Springer says SME's play an integral role in Barbados.

Despite this, he says they have faced a number of challenges, including poor management, weak entrepreneurial skills and a lack of resources to invest in training.