The Barbados Chamber of Commerce and Industry (BCCI) is advising micro, small, and medium enterprises (MSMEs) to step up their disaster preparedness, warning that the sector remains highly vulnerable to shocks.
In a statement issued on Friday, BCCI executive director Misha Lobban-Clarke used International MSME Day, which acknowledges the role micro, small, and medium-sized enterprises play in driving economic growth, innovation and sustainable development around the world, to urge businesses to “shift their focus from being reactive to disruptions to proactively manage risks”.
“Preparedness is key and we, at the Barbados Chamber of Commerce, in partnership with the UNDRR [the United Nations Office for Disaster Risk Reduction], are working to assist MSMEs . . . . By being prepared and embedding resilience within their business strategies, MSMEs will future-proof their businesses to weather the impact of any disruption given the uncertainty of the environment in which we operate,” she said.
The call comes a week after the chamber of commerce and UNDRR hosted a hands-on business continuity planning (BCP) workshop, which brought together entrepreneurs, association leaders and government officials for two days of training.
Business owners and managers were guided through risk assessments, tailored BCP templates, and how to connect with national multi-hazard early warning systems.
Cybersecurity was also a key topic, with emphasis placed on simple measures such as multi-factor authentication, antivirus software, and employee awareness, especially as MSMEs are often easy targets for cyber threats.
Lobban-Clarke said the workshop’s findings, along with results from a recent resilience landscaping survey conducted among Bridgetown-based SMEs, will inform national disaster planning and be shared across the region via ARISE Caribbean’s new SME Resilience Hub.
“Resilience grows stronger through forging connections and collaborations between entrepreneurs and buyers; small businesses and support agencies; and local companies and global opportunities,” she noted.
MSMEs make up over 96 per cent of the country’s registered businesses and employ more than 60 per cent of the workforce.
The Chamber of Commerce said ensuring their survival is essential to the island’s long-term economic and social stability.
“Today, on International MSME Day, we honour the business owners who keep their doors open in the face of hazards. We champion all MSMEs and the networks that uplift them,” the chamber said. (SM)
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