The Youth Entrepreneurship Scheme (YES) is on a path to better support Micro, Small and Medium Sized Enterprises (MSMEs).
This is according to Minister of Youth, Stephen Lashley who was speaking at last Friday???s launch of the Barbados Small Business Development Centre (SBDC) Network held at The Grande Salle, Central Bank of Barbados, Tom Adams Financial Centre.
He revealed that YES would co-pilot the ???pioneering initiative??? in association with the Ministry of International Business, Industry, Commerce and Small Business Development.
Minister Lashley applauded the leadership of the Ministry for its ???vision in identifying and recommending the adaptation of the SBDC model to our Barbadian context as a means of improving the delivery of service to the MSME sector???.
Mr. Lashley added that the two year pilot project, which would establish the SBDC Network in Barbados, had great potential to be ???transformative at all levels???. He also noted that there were many benefits to be reaped from the project; both at the micro and macro levels.
???We can draw on the knowledge of the global SBDC Networks to enhance our legislative, regulatory and business support frameworks to make our economy more competitive??? we can (also) foster business improvements that will lead to growth, productivity and sustainability of micro, small and medium sized businesses,??? he explained.
The project was developed out of a partnership with the University of Texas at San Antonio and has been implemented in several Caribbean islands.