Come. let us reason together.
This is the plea from Minister of Commerce and Trade Haynesley Benn to Barbados Chamber of Commerce & Industry (BCCI) president Andy Armstrong.
Benn’s call came in light of recent comments by Armstrong that private sector layoffs may become inevitable if recessionary conditions continued well into 2012.
“Many companies – especially small and medium ones – are not in a position to hold [on] much longer.
“I think that many people still don’t fully appreciate the duration or the severity of this recession and the impact it has had on reserves in companies,” Armstrong told BARBADOS BUSINESS AUTHORITY.
However, in an address to a small gathering during the official opening of the General Store of The People’s Market at Tudor Bridge, St Michael, Benn urged the BCCI not to “panic” and “take no thought for tomorrow”.
“I saw something in the BARBADOS BUSINESS AUTHORITY where the Chamber of Commerce is suggesting that come 2012, there may be some layoffs,” said Benn.
“I am hoping that the Chamber of Commerce, which has a relationship with the Ministry of Commerce and Trade, would want to come and talk with the minister of commerce and trade. . . .
“If they come and we can reason together, I will be in a position to speak with the wider Cabinet which will of course include the Minister of Finance and Economic Affairs and other [people] we can talk with, such as the Minister of Labour, so that we can look at ways in which we can assist businesses in staying afloat and preventing them from reducing their employment numbers at this time,” Benn pointed out.
He said now was not the time for companies to even consider laying off people.
Instead, Benn said, he believed businesses should look at “innovative” ways of keeping cost down while maintaining staff and high levels of sales.
Pleading with the private sector for its continued support, Benn added: “Don’t cross your bridge before we get there. Yes, you have your vision for 2012 but before you think about layoffs, I am urging you to come and let us discuss”.
The commerce minister further expressed disappointment that too often, businesspeople would shut shop after doing business only a few years.
At the same time, he commended long-standing businessman Sir David Seale, chairman of R.L. Seale, for his contribution to the development of business on the island.
“I want to say this about commitment – [Sir David] could have said ‘you know what, I’ve made it; I have some money and some worth so I am going to go home and relax and enjoy the rest of my life’ [but] he is committed to the task. . . .
“I find that businessmen in Barbados in particular do not have the commitment, do not have the staying power.
“They come into business today and if they do not see the big returns quickly, they pack up and move, pack up their shop and the business . . . .
“[But] we have to creep before we walk and before we run,” said Benn.
