Small businesses told to get ready

Article taken from the Midweek Nation – Ma7 17, 2023

WITH THE TRANSITION to renewable energy creating many needs, small business have been told they have a chance to get a head start in filling them.

This advice came from Minister of Energy and Business Development, Senator Lisa Cummins, while addressing the opening ceremony yesterday of an entrepreneurial training session held in conjunction with the Barbados National Oil Company Limited (BNOCL), Tradewind Tankers and the Miami School of Business.

“Barbados has one of the highest densities of solar penetration in the world, but we also want to see the further expansion of that solar PV (photovoltaic) penetration. We also need people to be looking at other forms of renewable energy. This is the space we find ourselves in. It means that small businesses entering the space must be able to develop a service level industry,” Cummins said.

Ability to innovate

“Whether we are going to be providing the services that are going to be critical for the transformation through solar PV development, in wind, offshore, hydrogen, new technologies, we need more of our small businesses to be able to innovate around what that needs to look like,” she added.

The minister implored those in attendance to look beyond the Barbadian market when building out their small enterprises.

“Small businesses in Barbados must never be afraid to lead. So I am challenging you as you work through this project with BNOCL in the renewable energy space, do not be afraid to lead, do not think of your market as 166 square miles, your market is much vaster than that. Do not think of your small business that it will remain a small business. Think of where you want to go and find partners.”

(CLM)