During the message delivered by Bishop Ezra Parris on the occasion of this year’s Independence thanksgiving service, several profound truths were espoused about the state of the local economy and society. The message will not be remembered for its homiletical content alone but for the focus on issues affecting the Barbadian society. The Bishop identified fatigue with inefficiency, rising violence, public frustration, weak customer service and deteriorating systems.
The message offered more than a spiritual reflection; it provided a useful lens through which to examine how national institutions function and how economic actors engage with one another. Many of the challenges confronting Barbadians persist because the systems meant to enable progress are not delivering at the pace or quality the country requires. For the MSME sector, more than 90 per cent of the business community, this gap between aspiration and action has been deeply felt.
Throughout 2025, this column focused on some of the constraints that hinder small business growth and the reforms urgently needed to strengthen the MSME sector. As we close the year, it is useful to revisit some of these key advocacy areas through the Bishop’s thematic framing of love, faith and hope. The question must be asked: Is Barbados doing enough to address the structural issues that limit opportunity, productivity and competitiveness?
The burden of bureaucratic inefficiency
One of the dominant themes this year has been the cost of administrative delays and regulatory bottlenecks on the business community. MSMEs consistently reported challenges accessing services, securing appointments, navigating approvals, or receiving timely payments for completed government work. The Bishop spoke of people “getting tired” of systems that leave citizens feeling as though they are begging. That experience is common within the MSME community.
The theme of love, defined as taking the right action toward others, becomes particularly relevant. Public-sector modernisation is not only a matter of improving systems; it is an act of respect. When MSMEs are met with timely communication, equitable treatment, and service that recognises their value, it reflects a national ethic grounded in fairness and care. A modernised public sector therefore becomes an institutional expression of love; not sentimentality, but justice, dignity and right action.
Access to finance and the structural barriers to capital
Another advocacy area this year has been the chronic lack of appropriate financing options for small businesses. Despite well-intentioned initiatives, such as the Junior Stock Exchange, businesses still face high collateral requirements, limited start-up support, cautious lending practices and slow application turnaround.
The message of faith, in the civic sense, is confidence in national systems. MSMEs will only invest, innovate and grow if financial frameworks are modern, coherent and responsive. Barbados needs a national financing architecture designed for small enterprise reality, not large firm assumptions.
The promise of renewal lies in developing a financing ecosystem that combines concessional loans, equity instruments, credit guarantees and developmental funding. True transformation requires actionable commitment to reshaping how capital reaches those who need it most.
A business climate shaped by high costs and weak productivity
Many MSMEs highlighted the strain caused by rising input costs, from utilities and shipping, to raw materials, combined with stagnant consumer purchasing power. The year also exposed the national challenge of low productivity, a longstanding issue that the sector cannot solve alone.
Productivity is not simply about technical output; it is shaped by respect between employers and employees, clarity of expectations, fair treatment and shared purpose. Workplaces grounded in mutual accountability tend to perform better. A productivity culture built on fairness, empathy and responsibility aligns directly with the notion of love as constructive action.
If Barbados is truly committed to transformation, productivity reform must go beyond measurement and training. It must cultivate organisational cultures where people are valued, supported and expected to contribute meaningfully.
Digital transformation and the need for modern systems
Throughout the year, we underscored the critical importance of digital readiness: e-commerce adoption, cybersecurity preparation and the development of digital public infrastructure. The country cannot pursue innovation while relying on manual administrative processes and fragmented systems.
Transformation begins with the willingness to change how we work. It also requires a national ethos where public services are delivered with consistency, accuracy and respect, again, an institutional form of love through service that empowers rather than hinders.
Digital transformation is not optional. It is a prerequisite for national competitiveness.
Renewable energy access and the national transition
Several articles this year analysed the slow pace and uneven access to renewable energy opportunities. MSMEs continue to face approval delays, financing barriers and high installation costs.
A country committed to renewal cannot pursue clean-energy goals without ensuring small businesses are included and supported. Equitable access to renewable energy solutions would reduce operational costs and enhance competitiveness across the sector.
The importance of data, evidence and consultation
We repeatedly emphasised the need for better statistics, meaningful consultation and evidence-based policymaking. Barbados cannot advance effectively without data that captures the real condition of its business community.
The Bishop cautioned against pursuing courses of action without clarity. Evidence-driven policy is essential if we are to avoid misaligned interventions and ensure national efforts meet genuine needs.
Much still to be done
Other areas of commentary included water shortages and hurricane preparedness, which highlighted the vulnerability of MSMEs to climate-related disruptions. Additionally, the high rate of taxation on businesses – from the levy on online transactions, to the sewage tax adversely affecting those in the agri-business sector, to the high cost of fuel due to its tax structure – these coalesce to make doing business extremely expensive and uncompetitive in some instances.
Admittedly, some progress has been made in 2025, but it pales in comparison to what is required. The pace of improvement must match the urgency of the moment.
It is evident that much work has to be done in the new year; rest assured Mind your Business will be there to highlight the issues and chronicle the progress being made.
Wishing our readers a happy and prosperous 2026!
The Small Business Association of Barbados (www.sba.bb) is the non-profit representative body for micro, small, and medium enterprises (MSMEs).
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