Minister of Industry, Donville Inniss, is of the opinion that society needs to change its mind-set towards entrepreneurship and young budding entrepreneurs.
He was speaking during a recent meeting at his Reef Road office with Distinguished Visiting Fellow and Professor of Entrepreneurship at the Massachusetts Institute of Technology (MIT) Sloan School of Management, Dr. Simon Johnson.
Mr. Inniss stated that Barbados had not yet evolved into a culture of entrepreneurship, did not encourage risk taking and frowned upon failure.
Noting that from his perspective in the United States failure was not seen as a reason for discouragement, Dr. Johnson said more needed to be done throughout the Caribbean to change that mind-set.
Noting that several young Barbadians were now opting to go into business for themselves, Mr. Inniss added that one of the challenges faced was producing entrepreneurs in a small open economy such as Barbados.??The two officials also discussed issues related to tourism and the International Business and Financial Services Sector.
Dr. Johnson is in Barbados as a guest of the Central Bank of Barbados. He recently spoke at a special presentation entitled: Technology, Entrepreneurship and Entrepreneurship Promotion, What???s Next? to mark the 60th anniversary of the Barbados Investment and Development Corporation.