SME database vital for progress in sector

'Using Technology to Promote Entrepreneurial and Economic Development' was the theme given to the official handing over ceremony on 31 March 2009 of the National Micro, Small and Medium Enterprise Database.

The implementation of the National Micro, Small and Medium Enterprise Database constitutes part of the wider Pan-Caribbean Small Medium Enterprise and Information Communication Technology Competitiveness Programme (Phase II), sponsored by the commonwealth Secretariat on behalf of seven member countries.

Carson Brown Permanent Secretary in the Ministry of Economic Affairs and Empowerment, Innovation, Trade, Industry and Commerce stated that "the database addresses the long time challenge of the absence of timely, accurate and relevant information on the sector that is necessary to effect greater economic planning."

The database has the capability to allow for benchmarking best practice within those sub-sector identified for national development, generating statistical information to effect better economic planning for micro, small and medium enterprise sector, cross-referencing companies to leverage business opportunities, and identifying potential networks and joint ventures to aid the competitiveness of small business enterprise.

Source: Barbados Advocate, 31/03/2009

Thursday, May 28, 2009