标签： Barbados

A significant policy divergence has emerged in Barbados as Professor Don Marshall, Director of the Sir Arthur Lewis Institute of Social and Economic Studies (SALISES), has raised substantive concerns regarding the government’s newly passed Economic Diversification and Growth Fund Bill. The legislation, approved by the House of Assembly last Friday, establishes a dedicated fund with an initial allocation of $225 million from the Consolidated Fund, distributed in $75 million annual installments over three years, supplemented by parliamentary resolutions and external grants.

The fund’s stated objective is to provide financial support to selected companies aiming to enhance employment opportunities, increase foreign exchange earnings, and stimulate overall economic growth. However, Professor Marshall contends that subsequent clarifications by Prime Minister Mia Mottley reveal the bill primarily focuses on adjusting tax rates for foreign corporations seeking investment opportunities in Barbados, creating a fundamental misalignment with its purported diversification goals.

The political economist emphasized that effective economic diversification legislation typically anchors foreign investment incentives within a comprehensive industrial policy framework. He noted the current bill conspicuously lacks critical elements including innovation mechanisms, value-added intentions, or clearly delineated target sectors for capital development. This absence of strategic direction, Marshall argues, undermines the legislation’s capacity to achieve genuine economic transformation.

Drawing from three decades of economic data, Marshall demonstrated that previous foreign direct investment inflows have predominantly reinforced Barbados’ commercial dealing economy rather than driving diversification. Most investments have concentrated in real estate speculation and import distribution networks, generating temporary employment spikes during construction phases but ultimately straining foreign reserves through substantial import dependencies for project components and maintenance.

The academic proposed that tax rate adjustments could be more appropriately addressed through amendments to existing international business legislation rather than conflating them with diversification initiatives. He emphasized that successful economic transformation depends less on tax incentives and more on strategic state posture, including negotiated relationships with investors, ministerial capacity, civil society engagement, and government steering mechanisms toward priority sectors.

The legislation defines qualifying companies as those maintaining substantial economic presence outside Barbados while engaging in, or intending to engage in, significant economic activities within the country.

A transformative entrepreneurial movement is gaining momentum in Barbados, offering a structured antidote to the isolation many women face in business. Business Baddie, a pioneering support network founded by attorney and former educator Kerrilyn Walters, provides female entrepreneurs with the practical tools and community accountability needed to transform ideas into successful enterprises.

Established in 2021 as a modest consulting initiative, the organization has evolved into a structured membership group that deliberately maintains an intimate size—currently approximately 13 members—to ensure meaningful engagement and personalized support. Walters, who serves as Chief Business Baddie Officer, conceived the idea drawing from her previous experience running a baking business before entering the legal profession.

The program’s core methodology centers on hands-on, practical workshops conducted monthly, covering essential business skills including marketing strategy, content creation, financial planning, budgeting, and operational scheduling. Unlike conventional seminars where participants passively receive information, Business Baddie sessions require active implementation—members literally plan their content calendars or develop marketing strategies during workshops.

A distinctive feature of the program is its accountability partnership system, where members are paired and rotated quarterly to maintain fresh perspectives and consistent motivation. This structure ensures participants remain committed to their stated business objectives despite life’s inevitable distractions.

The community extends beyond formal workshops through active WhatsApp communication, creating a continuous support network where members receive prompt responses to queries and challenges. This approach has demonstrated tangible results, with one member successfully transitioning from a home-based operation to establishing a standalone salon.

While currently maintaining its boutique size, the organization welcomes women across all age groups and business development stages—from those seriously contemplating entrepreneurship to established business owners seeking growth. The group is preparing to launch its third cohort in 2026, with new initiatives to be announced at their upcoming members’ dinner at Radisson Aquatica Resort on December 14.

Business Baddie primarily operates through its Instagram platform @businessbaddiebb, maintaining an accessible digital presence while fostering genuine, substantive connections that address the critical support gap in female entrepreneurship.

The Barbados government has successfully delivered $18.8 million in reverse tax credits to nearly 14,000 low-income citizens this week, providing crucial financial support ahead of Christmas celebrations. Finance Minister Ryan Straughn announced to Parliament on Friday that the Barbados Revenue Authority (BRA) distributed $16.2 million through banking institutions to 11,941 recipients, while an additional $2.6 million was issued via physical checks to 1,994 individuals whose banking information remained unregistered.

The initiative represents a cornerstone of the government’s cost-of-living relief measures, offering a $1,300 cash rebate specifically targeted at employed Barbadians earning $25,000 or less annually. Eligibility requirements include minimum employment thresholds, National Insurance contributions, and having paid less than $500 in income tax for the current fiscal year.

Minister Straughn connected the disbursement to broader economic modernization efforts, highlighting how the current mixed payment system—combining electronic transfers and physical checks—demonstrates the necessity of implementing digital financial infrastructure. The government is actively developing a national real-time payment system that would future credits, refunds, and benefits through digital wallets via the BIMpay platform.

‘Especially the person with cheques, because you got to wait for the postman to deliver, and then you got to find your way to a physical location in order to be able to access that money,’ Straughn noted, emphasizing the practical challenges of traditional payment methods.

The finance minister confirmed that key government agencies including the Treasury Department, BRA, and National Insurance and Social Security Service are being equipped to process electronic payments more efficiently. This transition aims to accelerate various disbursements including welfare payments and court-ordered maintenance allocations.

Straughn directly linked faster payment processing to enhanced economic vitality, stating that increased velocity of money circulation would stimulate consumption patterns and support broader economic growth. The timing of this financial injection coincides with peak holiday spending periods, potentially amplifying its positive impact on both household finances and national economic indicators.