Outlaws of small traders

Persaud: Let's have a new regulatory regime

Against a backdrop of police frequently moving street vendors in Bridgetown, internationally renowned economist Avinash Persaud has said that the country is making outlaws of small businesspersons.

The guest speaker at the Small Business Association’s Annual Dinner And Awards Ceremony took time out from his given topic to deal with this worrisome issue affecting many Barbadian micro traders.

Economist Avinash Persaud.
Economist Avinash Persaud.

“A significant amount of the entrepreneurial activity in Barbados is crimalized. Many of our favourite food vendors are parked without permission, are unincorporated and unregulated,” he said at Hilton Barbados on Saturday night, adding: “Because of this, they cannot move over from the unofficial sector to the official sector.

“No bank can lend to them. They’re trapped in a twilight zone, unable to establish themselves and grow. They are sometimes able to compete with legitimate businesses.”

Avinash, a non-resident senior fellow of the Pierson Institute for International Economics in Washington, said: “We need to create a new regulatory regime, a kind of start-up in a box for nano [minature] enterprises for which small micro payments will register these companies and allow them to have only basic reporting requirements.

“Once registered [it] gives them access to attractive bookable vending spots at low rents.”

The Barbadian former senior executive at JP Morgan and UBS appealed to Government to halt the slide into uncontrolled hawking in the streets of the island.

“Please let us not let our fair isle start to look like some of those other places where street urchins weave between cars at busy intersections to sell cheap goods of unknown providence. Let us better respect ourselves.”

6 Responses to Outlaws of small traders

  1. Gregg September 30, 2014 at 10:00 am

    So it takes an “outsider” to tell us this ? stupse.. its been happening for YEARS

  2. Astra September 30, 2014 at 10:39 am

    It ALWAYS takes an outsider for us to change most things. Its as though the people Leading are doing nothing to assist those with relevant information in order to progress themselves….

  3. Angel OfThunder
    Angel OfThunder September 30, 2014 at 11:00 am

    Government was preventing for years the growth of it’s own economy because of rich greed man,that care nothing about the small man what a shame…

  4. Frank Bongolights Chase
    Frank Bongolights Chase September 30, 2014 at 3:49 pm

    It takes a man to come here to tell us that, you know how much business they destroy here because of this moving vendors

  5. jr smith September 30, 2014 at 6:23 pm

    Not only Barbados , in the UK ,they destroyed the cottage industry, all political corporate corruption, the systems work for the interest of some people, but not in the interest of the people. that’s politics.

  6. Astra September 30, 2014 at 8:57 pm

    The country is assisting BIG BUSINESSES at the expense of the POORER PEOPLE !! There has got to be an exchange for the poor thinking…. We need Leaders who think more about “the masses” the CORPORATIONS have money to speculate and BOY are the accumulating? This is called exploitation to the maximum !!


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