分类： business

Entrepreneurs in Barbados are expressing significant concerns about systemic barriers preventing business expansion, identifying limited capital access and insufficient administrative support as primary obstacles. These revelations emerged during the Innovation Growth Market (IGM) 200 event at Hilton Resort Barbados, where business owners detailed their struggles with financial institutions and operational challenges.

Sasha Archer, Creative Director of digital marketing firm On Brand Global, emphasized the critical need for capital to secure talent and facilitate scaling. “Banking in Barbados is horrible,” Archer stated bluntly, noting that financial constraints are hindering both domestic operations and international business connections. She identified a need for approximately $2.5 million Barbados dollars in capital injection to properly scale operations, particularly for her newly launched content studio, The Space by On Brand Global, which aims to produce regional and international marketing content.

Rhea Corbin Hart, owner of EDbR Collective and EDbR Party Box, highlighted a different but equally critical challenge: administrative overload. Hart explained that managing multiple roles—from accounting to creative direction—consumes time that should be dedicated to strategic growth. “Even if I got the money right away, I still wouldn’t be able to scale without proper administrative support,” she noted, identifying an administrative assistant as her immediate priority.

Fitness entrepreneur Thorn Wood of Vibe Lifestyle and Fitness raised concerns about the narrow lending criteria of financial institutions, particularly for service-based businesses. With over 15 years of experience, Wood argued that lending institutions favor traditional sectors like manufacturing and exports while overlooking service businesses. Despite these challenges, Wood is preparing to open his first recreational facility in January at Hayman’s Market with ambitions to expand throughout the Caribbean region.

All three entrepreneurs are participating in the two-day IGM 200 Workshop with hopes of finding solutions to these persistent barriers to growth.

Barbados has entered a new era in aviation capabilities with the historic certification of its first Approved Maintenance Organisation (AMO), positioning the island nation for enhanced technical capacity and global competitiveness in air transport.

The Barbados Civil Aviation Authority (BCAA) granted full certification to Aviation Technical Services of Barbados Inc (ATSB), marking the first AMO establishment at Grantley Adams International Airport. BCAA Director General Tracey Forde-Bailey characterized this development as “an exceptional milestone” that carries significant responsibility for maintaining international aviation standards.

The certification process, which typically requires 8-12 months for completion, was finalized ahead of schedule in 2024. Forde-Bailey emphasized that the five-phase approval procedure demanded strict adherence to International Civil Aviation Organisation standards alongside Barbados’ technical regulations, describing it as “an ambitious undertaking.”

Beyond technical advancements, the AMO certification generates substantial national benefits. It establishes career pathways for emerging aviation professionals, stimulates future investment opportunities, and enhances Barbados’ commercial enterprise development. The achievement particularly strengthens Barbados’ strategic position as a Caribbean aviation hub, given its geographic advantage between North America, South America, and Africa.

Industry experts highlighted the certification’s multifaceted impact. Dr. Kareem Yarde, Education Officer with the Barbados Aircraft and Aviation Services Company, praised ATSB’s “extensive and strenuous efforts” in achieving this milestone. Gerston Blenman, ATSB’s Director of Maintenance, noted the certification validates Barbados’ compliance with International Air Transport Association regulations, creating opportunities for job expansion into higher maintenance operations.

The development also promises educational benefits, potentially attracting young talent from technical institutes like the Samuel Jackman Prescod Institute of Technology into aviation maintenance careers. As a certified line maintenance operator, ATSB can now perform transit checks for international carriers, leveraging Barbados’ strategic location as a transit point between major continents.

A Barbados-based recycling enterprise is poised for international expansion following remarkable royal endorsement of its innovative sustainable construction products. B’s Recycling, under Managing Director Paul Bynoe, has developed climate-resilient paving blocks manufactured entirely from repurposed waste materials including discarded plastic bottles and caps combined with sand and other reused components.

These specialized pavers, capable of withstanding pressures up to 2,600 pounds per square inch (PSI), captured the attention of Dutch King Willem-Alexander and Queen Máxima during their recent visit to Curaçao. The royal couple expressed both surprise and admiration upon examining product samples, initiating preliminary export discussions with Dutch territories including Curaçao and potentially the Netherlands mainland.

The international interest stems from a strategic partnership with Martijn Kampshoff, founder of Fuse Kitchen, who supplied the specialized machinery for paver production. While negotiations remain in early stages, Bynoe confirmed the royal household’s enthusiasm for developing a comprehensive trade package that could include additional product lines beyond the current pavers.

To meet anticipated international demand, B’s Recycling is transitioning from manual to automated production systems. The current manual equipment produces approximately 300 pavers daily, while the planned automated machinery promises more than double this output through streamlined ‘lock and load’ operation.

Domestically, Barbadian consumers already benefit from reduced pricing at Kooyman hardware stores, which operates six locations across Dutch Caribbean islands. The company has secured production concessions that enable more competitive consumer pricing while maintaining product quality.

Future expansion plans include February 2024 exports to Guyana, where private interest has emerged from residential construction projects. Additionally, the European Union has expressed formal support through Ambassador Fiona Ramsey, potentially providing both financial assistance and technical guidance for scaling recycling operations.

International validation continues with recent endorsements from officials representing Spain, France, and Ireland during facility tours. Bynoe emphasizes that beyond financial support, the project benefits from valuable technical guidance that enhances local manufacturing capabilities using Barbados’ abundant solar energy resources.

Barbados is positioning itself for a significant expansion of its tourism sector through a new strategic collaboration with the World Bank. The partnership was formalized during a high-level meeting between Minister of Tourism and International Transport Ian Gooding-Edghill and a delegation from the World Bank led by Maria Marcela Silva, Regional Director for Infrastructure in Latin America and the Caribbean.

The discussions at the ministry’s Warrens headquarters focused on comprehensive development strategies, with Minister Gooding-Edghill highlighting Barbados’ remarkable tourism growth trajectory between 2023 and 2024. He detailed the government’s multi-faceted approach, emphasizing the critical expansion of room inventory and the successful implementation of an airlift strategy that has driven substantial visitor growth. “Barbados is entering an exciting period of growth,” the Minister stated. “We are building out and expanding our room inventory absolutely necessary as we drive more traffic to destination Barbados.”

Ms. Silva, who is concurrently participating in the 34th General Assembly’s Forum of Ministers and Highest Authorities of Housing and Urban Development, underscored the World Bank’s commitment to supporting Barbados’ infrastructure ambitions. She outlined the Bank’s capacity to provide both financial resources and technical expertise, particularly in tourism and international transport sectors. “We are very keen to work with you,” Silva affirmed. “We think that there is a huge opportunity in the tourism sector one of these sectors that we see as having a lot of potential to support job creation, economic growth and so on.”

The bilateral talks extended to several key areas including technical assistance programs for aviation development, sustainable tourism practices, cruise tourism enhancement, and market diversification strategies. Significant attention was given to the proposed expansion of Grantley Adams International Airport and Barbados’ pursuit of Category 1 status with both the US Federal Aviation Administration and the International Civil Aviation Organization.

The World Bank delegation emphasized their comprehensive infrastructure mandate, covering energy, transport, urban development, tourism, and disaster risk management. They committed to sharing valuable data analytics, best practices, and innovative financing options to support Barbados’ development objectives.

The meeting included senior officials from both parties, including acting Permanent Secretary Deborah Norville, Permanent Secretary Charley Browne, acting Chief Technical Officer Dionne Gibbs-Nicholls, and several World Bank specialists in urban development and resilience.