BARBADOS INSTITUTE of Management and Productivity (BIMAP), a longstanding training and consulting institution, has started to fix its finances and reduced its losses, but remains in financial difficulty.
Speaking at BIMAP’s annual general meeting at its Wildey, St Michael headquarters this morning, chairman Benson Straker and executive director Dr Sonia Greenidge-Franklyn said the organisation had reduced its deficit from more than $400 000 in 2012 to $107 000 last year.
Straker also reported that BIMAP had cut its losses from more than half million dollars to $141 613.
Greenidge-Franklyn attributed the reduced deficit to an increased number of consultancies last year, a deliberate effort to reduce expenses and other efforts, but, like Straker, said raising revenues was still a challenge.
The executive director said BIMAP would continue to look for ways to raise funds, adding that in this regard more revenue was expected from a series of partnerships and other efforts the organisation was involved in.
This included new programmes in association with the Technical and Vocational Education and Training Council, the Barbados Investment and Development Corporation and partners in the Turks and Caicos. (SC)
