Standards Distributors has been praised for their "exemplary stewardship, determination and foresight" over the past 50 years of its existence.
The accolades came over the weekend from Minister of Finance and Economic Affairs, Chris Sinckler, as he delivered the feature address at Standard Distributors’ (Barbados Limited) 50th anniversary celebrations held at the Accra Beach Resort, in Rockley, Christ Church.
He lauded the company for being able to offer Barbadians "not only quality and exquisite brand items, but also first class service" in the face of the "worst effects of the great global recession". Mr. Sinckler said this was testament of standards "having a good business model that works".
The Finance Minister commended the company for its ability to remain in business, with minimal dislocation or without the retrenching of staff, saying, "I strongly believe that your level of commitment to protect the jobs of your 71 employees counts you as among those companies which are reinforcing their commitment to the social and economic stability of Barbados as members of the Social Partnership".
He added: "In an era, in which, at least apparently in this region, we still scratch our heads over how best to facilitate a Single Market and Economy, your presence here in Barbados, shares a lesson in having the right mix of foresight, capital and ideas. For even as far back as 1959, when Standards Distributors partnered with Dacosta Limited, a subsidiary of the Barbados Shipping and Trading Co. Ltd (BS&T), the concept of a Single Market was a lived reality for your founders."
The Finance Minister contended that Standards Distributors’ business model fully supported the philosophical argument by late Prime Minister David Thompson that this country "is not [only] an economy but also a society". He said this concept had now been woven into the national conscience, and separated Barbados from many other societies across the world.