The Barbadian government has announced a series of sweeping reforms aimed at streamlining business operations and enhancing the island’s investment climate. Senator Lisa Cummins, the Minister for Business Development, revealed on Monday that these changes, set to take effect in the coming months, will focus on modernizing bureaucratic processes and introducing advanced digital tools to support business growth. Speaking at a Jamaica Money Market Brokers (JMMB) forum at O2 Beach Club, Senator Cummins emphasized the government’s commitment to creating a more predictable and efficient environment for investors and businesses alike. Key initiatives include reducing red tape, implementing transparent monitoring frameworks, and establishing an enterprise exchange to facilitate smoother transactions. The minister also highlighted a whole-of-government approach to policy-making, ensuring alignment across ministries to benefit micro, small, and medium-sized enterprises (MSMEs). She stressed the importance of institutional reforms, such as embedding financial reporting standards and fostering innovation, to build confidence and stability in the business ecosystem. However, Senator Cummins acknowledged the challenges posed by outdated legislation, such as the nearly 30-year-old Companies Act, and the slow pace of regulatory compliance. She also noted that some compliance requirements are dictated by international bodies, adding complexity to the process. Despite these hurdles, the government remains focused on creating systems that attract investment and support economic growth.