The Small Business Association Head is praising Courts for the recent launch of their Microloans programme.
Speaking with media after the launch last Friday at Hilton Barbados, the General Secretary of the SBA Senator Lynette Holder says that the initiative aimed at offering financing to mainly small and micro-businesses has come along at the right time as they have seen an uptick in microbusiness since the start of the COVID-19 pandemic.
“This COVID-19 pandemic has really disrupted how business is being done so you need the attendant response. So it is definitely the right time. We understand and appreciate there are other services and other products out there and because the need is so vast this is going to help in our view to cater to micro-firms in particular. This particular product will be pitched in this sector we think,” Senator Holder said.
She also says that there is room for more companies with the resources to follow suit as the market will welcome all help in boosting the ability of small and micro-businesses.
“There are some other commercial lenders in the space…But Courts has definitely risen to the occasion because they have the capacity to…If there are others that have the resources to follow in Courts’ footsteps of course we welcome that,” she said.
Senator Holder says that with looming second lockdowns as a result of COVID-19 across the globe, this is the perfect time for Barbados to look inward at its many businesses and initiatives and believes that small and micro-business have the flexibility to be far more nimble than bigger players.
She made special mention of the agri-business sector which she says has thrived especially during this pandemic and wants Barbadians to continue showing support for the local agricultural sectors.
“Here is an opportunity for us to channel the consumer to our local producers. We have not seen any other sector thrive as the agriculture sector during this COVID-19 pandemic…but consumers now we want them to consider local producers,” she added.