Wealth creation a joint effort
A STRONG PARTNERSHIP between the public and private sectors is key to the creation of wealth in Barbados.
According to Henderson Holmes, executive director of the Barbados International Business Association (BIBA), private enterprise is essential since Government does not create wealth but takes it from the private sector through taxes, duties and fees.
He was addressing the annual awards ceremony of the Barbados Youth Business Trust at its Harbour Road, St Michael offices.
“When Government is at its most efficient, it provides the environment for the growth and development of private enterprise.
“When that private-public partnership is healthy, the country as a whole reaps enormous benefits,” he said.
For this reason, Holmes said, we need to be constantly encouraging new enterprise development and “encouraging and supporting the people . . . who are prepared to take on the challenges of starting, operating and growing businesses”.
He told the entrepreneurs in the audience that they belonged to a group that was very important to Barbados.
“Businesspeople are very important to the well-being of this country, even though it may not appear like that from the behaviour of our society towards businesspeople.
“Politicians may have a lot of talk, but at the end of the day all of the wealth in the country is created by private enterprise, businesspeople acting in their own interests to create personal wealth,” Holmes said. (NB)