Thompson: Small businesses need strategy, not just survival

Too many small businesses in Barbados are being created out of necessity rather than strategy, University of the West Indies Pro Vice-Chancellor Professor Canute Thompson has declared, as he called for young entrepreneurs to build networks and grow their enterprises.

His comments came during the presentation of a US$5 000 ($10 000) cheque from the Barbados Investment and Development Corporation (BIDC), Export Barbados, to support the UWI International Undergraduate Students’ Leadership Conference and Entrepreneurship Exhibition, which takes place in Jamaica from September 23 to 25.

Professor Thompson highlighted the value of Export Barbados to the region’s business landscape, noting that more than seven of out ten Caribbean businesses are Micro, Small and Medium Enterprises (MSMEs).