ALTHOUGH the ongoing economic recession has given some countries a “knockout punch”, Prime Minister Freundel Stuart has called for the emergence of an entrepreneurial class to ride out the current situation.
He re-emphasized this view last week while delivering the feature address to scores of networkers in the diaspora attending the Barbados Network Consultation 2012 at the Lloyd Erskine Sandiford Centre.
He reasoned that a recession, though painful, provided opportunities for countries to achieve new areas of growth.
“A downturn or recession forces all those who produce goods to become more creative, efficient and competitive, in terms of quality and price, for purposes of survival. [The recession] also makes space for innovation,” Stuart noted.
In light of this, the Prime Minister said Government was using the present situation to forge a new class of entrepreneurs, drawn from all strata of society, to encourage budding businessmen and women to “search out niches in the local, regional and global marketplace and to take the bold step to meeting existing and emerging needs”.
Additionally, the Prime Minister urged the nation to make well informed and strategic choices with respect to policies and programmes during the economic downturn. (JC)
