Our Dream For The New Barbados Economy

The launch of the Barbados Entrepreneurship Summit is our visionary call to leadership and action.The journey we are embarking on is much more about emotion and passion than it is about analysis. We have been analysed to death. The latter cannot get us where we need to go. Passion, confidence, clarity, accountability, perseverance and actions […]

By Peter N. Boos

November 18, 2010

The launch of the Barbados Entrepreneurship Summit is our visionary call to leadership and action.The journey we are embarking on is much more about emotion and passion than it is about analysis. We have been analysed to death. The latter cannot get us where we need to go.

Passion, confidence, clarity, accountability, perseverance and actions will.

All leaders in Barbados have the prime responsibility to INVEST THE TIME to make the vision a reality.

We see ahead:

  • An economy that is sustainable, robust, diversified and fast growing and internationally recognized for stability, business wisdom and for always being on top of our game.
  • An economy that puts people and their development, success and well-being at the heart of our efforts at all levels. One where the interests of all stakeholders are aligned.
  • An economy that provides ample opportunities for all and that effectively generates new competitive enterprise development. Initial business failure will not be seen as fatal but as just a step on the road to new learning and future prosperity. We must see start-ups as the engines for growth and work to encourage and support them in every way. Renee Amoore will expand on this at the end of today.
  • An
    economy
    , tailored and sensitive to the social and cultural priorities and needs of Barbadians. One that Bajans feel they own and to which each of them is contributing and from which they will personally benefit .
  • An economy with well-informed leadership and competent management that will settle for nothing less than the best for Barbados and that has a sense of urgency about removing obstacles to progress and that utilizes all available resources effectively -gold medal winners at whatever we do.
  • An economy rooted in market knowledge, export growth and the earning of foreign exchange and in the acceptance of the realities of a world of globalised business and fierce competition.
  • An economy that expands, builds and leverages on what already exists-tourism, financial services, agriculture, manufacturing-but that also aggressively looks immediately and urgently to the many new opportunities available to us and for which we already have the competencies and capacity to develop-renewable energy, ICTs, professional services, health & wellness, sports & education, film, fashion, art, music, food and so on-the list is really limitless. The business environment we create will determine what these opportunities become. Professor Persaud will share his vision of Barbados 2020 tomorrow.
  • An economy that actively pursues international entrepreneurial investors (and welcomes their families) and engages in international joint ventures and partnerships and that has a progressive policy agenda to facilitate international entrepreneurs relocation to Barbados to bring new industries, skills and access to external markets.
  • An economy where Government’s primary role is to prepare the pitch and keep it in top condition so that private enterprises can win the economic game.
  • An economy where Government exercises active prudent strategic economic management that places Barbados in the top tier of fiscally responsible, well managed Nations.
  • An economy that rewards performers, value-creators, innovators, risk-takers and excellence and where under-performance is deemed intolerable and where a meritocracy culture pervades, not an entitlement one.
  • An economy that is driven by true competitiveness and where success is measured against the highest and best standards of global performance. Quality in everything we do must be how we do business. The Barbados business brand must come to mean as much as the Barbados lifestyle brand.
  • An economy that can generate economic benefits that affords a high quality of life and can pay for the social services Barbadians desire. Alex Pratt will expand on this. “Blessed are the entrepreneurs for they shall inherit the bill”.
  • An
    economy
    closely aligned with high standards of ethics and accountability and that embraces Barbadian values and culture and that is socially just. All must rise in the boat of economic progress.

Our vision is not a “pie in the sky” ambition – it is really very much in our grasp and achievable in the timeframe proposed. BUT it is late in the second half.

What therefore is really stopping us?

First we must really want it!

We must work together to achieve it. in the words of our late Prime Minister – Team Barbados must do it.

We have no time for the naysayers.

It is time for our Politicians to think long term and work together to build a clear consensus on National Strategy that is beyond party politics and with clear long term objectives. We must remove the fear and risk for politicians that they will be penalized for doing the right things. We need Statesmanship now.

However the challenge extends beyond our politicians, to each and every one of us here today. What is your dream? What must Private Sector and Labour leaders do differently immediately? Surely it cannot be business as usual!

What role will you play over the next two days to launch our Vision? More importantly, what role will you play as you leave the Summit to promote our Vision and actively partake on this journey?

The following is an extract of the opening speech made by Mr. Peter Boos – Chairman, Barbados Entrepreneurship Foundation at the inaugural Barbados Entrepreneurship Summit held at the Hilton Hotel on November 16 & 17.

Peter N. Boos

Chairman Emeritus Ernst & Young Caribbean (since 2004); Founding partner Business Barbados publication (1999) and the Barbados business web portal BusinessBarbados.com (2009); Co-Founder, Chairman and CEO Substance Abuse Foundation Inc. (1996 to date); Founding Sponsor (2009) and First Chairman (2009-2014) Barbados Entrepreneurship Foundation Inc.; Founder of the Peter Boos Foundation (2004), (supporting youth development, entrepreneurship, education, addiction treatment, environmental protection, arts & culture development, relief of poverty and support of various community and charitable causes); Founder, Patron and first chairman ASPIRE Foundation (Barbados) Inc. - 'helping charities help' to strengthen and expand the Barbados Third Sector (2014 to date).

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