Although my immediate and obvious answer would be “Yes, we can produce world-class entrepreneurs”, on reflection I think the question was answered years ago by the entrepreneurial activities of Sir Kyffin Simpson and others.
What I think should be the real question is: “How do we produce more world-class entrepreneurs and at a faster, more consistent rate?”
The knowledge that Barbados has produced world-class entrepreneurs and still possesses the conditions to replicate this process was the thinking that led to the launch of the Barbados Entrepreneurship Foundation’s (BEF)?vision: To be the No.1 entrepreneurial hub of the world by 2020.
Also encompassed in this vision is the creation of an enabling environment that facilitates business, and would make Barbados an attractive jurisdiction for international entrepreneurs to relocate their enterprises to.
Last week I found myself speaking to a fellow passenger on my way back from the United States. I had just been speaking at the annual WalMart shareholders meeting, to members of the biggest company in the world.
During the conversation, he informed me that he was looking to move either to Guernsey or Luxembourg to headquarter his global company. When I asked him why, he simply responded that everyone was welcoming and prepared to put in place all he needed to support his enterprise.
When I responded by suggesting that he should think about Barbados, he appeared surprised that it could even be done. I talked about my own experience and how my move to Barbados had been one of the best decisions of my life. He said he would now look into it, but why did he not immediately think about Barbados?
There is no doubt that many people are working hard to spread the word, including the great work by Invest Barbados. However, we still do not have enough business role models passionately extolling the virtues. Therefore, the BEF is devoted to creating an enabling entrepreneurial environment in Barbados that would allow for all the necessary conditions to prevail that would produce world-class entrepreneurs.
Through the BEF pillar structure, many of the key issues are being addressed. For example, the education and talent pillar is working in collaboration with the Cave Hill School of Business and the Ministry of Education to develop greater innovation/ creativity and entrepreneurial thinking in educational programmes.
The business facilitation pillar is focusing on how to make it easy to do business in Barbados, in order to give entrepreneurs the ability to take a great idea and turbo-charge it globally.
Equally, through the monthly forums, we are exposing our entrepreneurs to top local as well as world-class entrepreneurs who have succeeded against the odds. These act as vital role models to both show the way, as well as provide the belief that it can be done.
I truly believe that these conditions will create a Barbados that has a competitive environment which encourages and demands world-class quality and productivity.
With these conditions in place, our talented entrepreneurs will continually strive for world-class performance standards.
Barbados is a great country and I can think of nowhere else that entrepreneurs could have real opportunity to attain a quality of life which allows them to prosper, as well as balance their personal lives.