Despite comments to the contrary, the Barbados Private Sector continues to create value for shareholders, says president of the Barbados Chamber of Commerce and Industry, Tracey Shuffler.
In fact, while speaking to a large number of business people at the final monthly BCCI business luncheon for 2014 at Hilton Barbados yesterday, Shuffler said the BCCI had already employed a number of strategies and would be rolling out several others.
She cited some of the strategies implemented as the expansion of customer bases to include new export markets; the investment in technology to facilitate operations for both employees and customers; product and service innovation to grow revenues; divesting or right-sizing underperforming assets; the training and realigning of staff to allow greater flexibility and the employment of energy-saving and renewable energy solutions, among others.
Shuffler said her council recently met to consider some of the sectors which would factor more prominently into the future economy and their belief was that the traditional foreign exchange earning sectors such as tourism would continue to evolve to meet new market demands. She noted that sectors like sports, entertainment and culture, along with the emerging private medical and health related services and retirement communities were also likely to continue evolving and perhaps eventually dominate as Barbados’ tourism product expanded.
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