THE SMALL BUSINESS DEVELOPMENT ACT, 1999-23
The Central aim of government's economic policy is to create a modern, forward-looking economy where businesses can grow and its citizens prosper. Government considers the business sector as having the potential to be a major driving force within the Barbadian economy. The small business sector is fundamental to generating revenue, employment, economic growth and prosperity within Barbados and is therefore regarded as a key component of this process.
It is this regard that the Small Business Development Act 1999-23 was enacted in December 1999 as part of Government's legislative framework to facilitate the further development and sustainability of the small business sector of Barbados, as well as to promote international competitiveness.
The Small Business Development Act is divided into seventeen sections, the following three of which is highlighted.
(i) The definition of a small business enterprise.
(ii) The activities under which small businesses are categorised.
(iii) The incentives, which a small business granted approval by the Minister of Commerce, Consumer Affairs and Business Development, are eligible.
Copies of the Small Business Development Act can be purchased from the Government Printing Department, Bay Street, St. Michael, Barbados
- Cost - BDS$4.00
Copies of the Application For Approved Small Business Status may be collected from the following offices.
1. The Ministry of Commerce, Consumer Affairs and Business Development,
Reef Road, Fontabelle, St.Michael.
2. The General Post Office, Cheapside, St. Michael.
3. The Corporate Affairs and Intellectual Property Office, Belmont Road, St.Michael.