Researching the State of the MSME Sector in Barbados

Context

The SBA commissioned the first national survey on the MSME sector in Barbados back in 2015. Since then, there has been no additional research on the nature of the MSME sector, stifling the ability of policymakers and others to take informed positions on the state of the sector and its contribution to the economy. Particular gaps relate to the impact of Covid-19, the nature of women-led businesses, and the effects of climate change.

The findings of the previous research have been used by key stakeholders in the MSME sector to inform policy interventions, strengthen educational and export programmes, and provide business development agencies with data to influence their capacity building actions. Several Ministerial statements on the MSME sector have drawn on this research in quantifying the contribution of the sector to the national economy and identifying key demographical areas for policy intervention.

Objective

The ICR Facility is working with the Small Business Association, Barbados, to deliver updated ‘state of the sector’ research on the country’s MSMEs. There is a particular focus on the impact of Covid-19 and climate change, and the experiences of female business leaders. The objectives of the work are to:

Undertake a survey of 500+ MSMEs in Barbados with data variables including employee numbers, turnover, innovation etc.
Gather qualitative data on the current and likely impact of climate change on MSMEs, particularly women-owned businesses, and the impact of Covid-19.
Present findings in a report and via a stakeholder dissemination event.

Results

Through generating up-to-date, gender-sensitive, quantitative and qualitative information on the MSME sector in Barbados, this research project will improve the decision and policymaking capacity of Government, the SBA and other stakeholders. It will provide a snapshot of the sector that can be compared to previous research from 2015/16 and used to assess the impact of COVID-19 on businesses across a range of variables (e.g. gender, size, location, sector). It will also shine a spotlight on the impact of climate change on women-led businesses in a Small Island Developing State (SIDS). In these ways the work will help to inform the transformational agenda of the country and the development programmes needed for MSMEs.