Expert Panel for UWI Cave Hill to review new entrepreneurship trends in Barbados

The 2011 Global Entrepreneurship Monitor (GEM) Report on Barbados will be launched at the Cave Hill School of Business (CHSB) this week. The GEM is a research project which measures entrepreneurial activity within and among participating countries. Data is collected by each country annually, harmonized and dispersed by the GEM consortium. Each country produces a national report. Barbados is the third country in the Caribbean following Jamaica and Trinidad to join this global grouping.

On Friday 5 October from 9.a.m., attendees at the CHSB event at the University of the West Indies will get the chance to review data on the challenges facing Barbadians who are in the early stage of starting businesses or who are trying to keep them in operation.

The Honorable Denis Kellman, M.P and Minister of Industry, Small Business and Rural Development is slated to be guest speaker for the event.

In a sneak preview of the three hour event, one of the GEM’s two lead researchers noted that the island’s rankings in some key respects have improved, while other areas show signs that entrepreneurs are being affected by the fiscal crunch which holds the world economy in its grip.

In some matters we have improved rankings, and there are positive indicators that the contribution to GDP by entrepreneurs is likely to grow once the right conditions are in place. There is a high rate of individuals who perceive that they have the capability to take advantage of an opportunity and there is little fear of failure. As a nation we just need to figure out how to harness that potential,” said CHSB’s Marjorie Wharton.

Dr. Donley Carrington and Ms. Marjorie Wharton, members of the GEM National Team will present the findings on entrepreneurship in Barbados, followed by a Panel Discussion on the same topic and presentations on entrepreneurship in the Caribbean.

Speakers on the panel to present include Neil Wolff of Ryerson University in Canada, Ms. Ruth Blackman Permanent Secretary in the Ministry of Industry of Small Business and Rural Development and experts drawn from a cross section of the local business community.

The event will be live streamed via the link

Jan Voordouw, Coordinator of Panos Caribbean which has responsibility for disseminating information on the event, states that, “it will provide an opportunity for all who have an interest in the trends in entrepreneurship within the islands to note the changes which have occurred in 2011 and also to examine the challenges facing those who are engaged in starting and maintaining own-account ventures.”

The main sponsor of GEM in the Caribbean is the International Development Research Centre (IDRC), Canada which helps researchers and communities in the developing world find solutions to their social, economic, and environmental issues.

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