Small businesses must embrace renewable energy
FOLLOWING a highly successful Small Business Association week of activities, President, Wayne Willock, has pointed to a number of options for moving the micro business sector forward.
He spoke to The Barbados Advocate against the background of the SBA week, which had as its theme: “Small Mind, Big Thinking, Changing the Mindset for Global Engagement”.
Willock said that the micro businesses must embrace renewable energy to help them stave off the likely effects of rising international prices of oil, which would affect Barbados.
In an exclusive interview with The Barbados Advocate, Willock, who said he supports the renewable energy measures, believes these energy options can bring benefits to small and micro businesses in Barbados.
He pointed out that given the major contributions which the small business sector makes to the Barbados economy, it is important for them to benefit from the initiatives being made available and in the process contribute even more.
According to him, he hopes that the persons who will be supplying renewable energy will have some packages for small businesses.
The SBA President stated that in the event of higher global fossil fuel prices, businesses will feel the impact through increased charges for petroleum products and electricity, which are among the inputs businesses use in their production processes.
Another area highlighted is a Health Shield Plan, which the SBA and the Copyright Society of Composers, Authors and Publishers (COSCAP) have put together.
The SBA President said that while they require at least 50 persons to participate in the programme, this is proving to be a challenge since people seem to be set in their ways as regards such matters.
According to him, we have quite a few entertainers who have struggled over the years to get assistance for their ailments as they get older, and this Shield is a perfect opportunity for the younger people to consider rather than having to depend on relatives and others when health risks set in, or who find themselves out in the woods without any assistance.
“So this advice is to look at these schemes carefully, and gauge to what extent people should get involved,” he said.
He would also like to see more small entrepreneurs get involved in the Small Business Association (SBA).
Willock said that by becoming involved in the Association, members will see more benefits coming their way.
“We have found that not enough members of the SBA take advantage of the training and educational courses which are offered on an annual basis,” he told The Barbados Advocate. In fact, more non-members take advantage of this training.
He added that while financial members get a substantial discount on those courses, “our statistics show that non members are taking advantage. But there are many more benefits which can be obtained from being a member of the SBA”.