HQ address: #1 Pelican Industrial Park
Princess Alice Highway
Interest in Forestry: peripheral
The Barbados Small Business Association (BSBA) is the island's non-governmental, non-profit representative body for micro, small and medium enterprises. The organisation was registered as company no. 3508, and incorporated on March 31, 1982. The company was re-established in 1993 following a dormant period during the mid-1980s, and officially opened its Secretariat in December 1995. The BSBA seeks to expand business opportunities for its members, provide education & development services and lobby to ensure an enabling environment for the growth and sustainability of the SME sector. The BSBA also explores business financing possibilities for its members. The board of directors is headed by the president, Mrs. Celeste Foster.
The guiding principle of the BSBA lies in its core philosophy, which holds that working together provides the best opportunities for businesses to grow. The organisation seeks to establish honest, committed relationships in a spirit of aggressive endeavour and mutual support, pooling its resources - skills, time, and finances - to create a more powerful financial future for the SME sector. Over the years, this intrinsic philosophy has seen the BSBA reap immeasurable success in its efforts to lobby Government for the creation of an environment in which the SME sector could continue to grow and develop. One of the major outcomes of these efforts has been the provision of micro-business financing and increased access to equity funding for micro, small and medium enterprises.
In order to facilitate the implementation of its broad mandate, while contributing to its own sustainability, two wholly owned subsidiary companies have been incorporated by the BSBA.
The Small Business Venture Capital Inc. (SBVCI) was incorporated in 1997 and is registered as company #11740 under the laws of Barbados. The company was capitalized using US $1 million dollars donated to the BSBA by the Government of Barbados. The SBVCI makes equity finance available to qualifying businesses.
The SBA Enterprise Inc. (SBAEI) was incorporated in 1998 and is registered as company #15750. The company was established to assist BSBA members to develop commercial opportunities and to increase their revenue streams. SBAEI facilitates joint tendering on contracts, the development of marketing & promotion programmes for the BSBA's sectoral groups, and the generation of commercial projects to be outsourced to BSBA members.