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Banks urged to finance small, medium-sized companies

May 19, 2024

The local banking system is being urged to find other ways to finance small and medium-sized companies.

Prime Minister Mia Amor Mottley Mia Amor Mottley issued the challenge during the Goddard Enterprises 100th-anniversary entrepreneur competition awards ceremony.

She says with nearly $14 billion in savings, more trust needs to be extended to those who want to invest in their businesses. 

Mike’s Bajan Beverages, run by Michael Thornton and Medregis’ Dale Trotman, were declared the grand prize winners from a pool of three semifinalists. 

Each individual copped $50,000, out of an initial pool of ten entrants from Barbados, the greater Caribbean, and one family member of Goddard’s Enterprises Ltd. 

Additionally, Prime Minister Mottley notes one of Barbados’ challenges is that the local market space is too small, and urges entrepreneurs to reach outside Barbados’ borders.

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