Effort To Make Barbadians More Financially Literate

Kerrie Symmonds

For the first time in Barbados’ history, Government has made a tangible attempt to get its citizens to be better money managers with the launch of the Financial Literacy Bureau (FLB).

The Bureau was officially launched last Sunday, during an official ceremony at Queen’s College, Husbands, St. James.

Minister of Energy, Small Business and Entrepreneurship, Kerrie Symmonds, who addressed the gathering, said establishing the Bureau was absolutely necessary in order to realise the economic transformation in the lives of thousands of Barbadians.

“The mission is about ensuring that we modernise the Barbadian economy, and the way in which we do so…is to continue to train and build the skill sets of micro and small business people across Barbados. If we can get the average beautician, the average shopkeeper, the person doing metal work, auto body repairs…if we can get all of them to understand the rudiments and the basic essentials of how to manage their business effectively, then we have secured business continuity,” he stated.

Symmonds added that what was missing across the island was adequate emotional support for entrepreneurs.

“Across the society, what has been missing was that we did not hold the hand of the entrepreneur and make it a necessity to engage that entrepreneur who is going in good faith to start his or her business; engage them in a process of education as to the pitfalls they must avoid, as to the things they must be able to do in order to ensure continuity.”

The Minister told his audience that Government would soon be rolling out a national programme of standards to ensure that the economic activity of all entrepreneurs meet the Barbadian stamp of excellence, which signifies that the business has met the standard of accreditation and that they were certified as achieving that standard of excellence.