The Barbados Chamber of Commerce and Industry (BCCI) is concerned about the delay in obtaining VAT and corporation tax returns and the decline in seasonal employment opportunities.
The costs associated with implementing workplace improvements is also a concern says President of the BCCI Lalu Vaswani who in a statement today, said business owners were finding it costly to implement workplace improvements such as holiday with pay, safety and health at work, pensions and securities regulations.
The president also expressed disappointment with the length of time it was taking government to pay VAT and corporation tax returns to the business community.
Vaswani also said some members have reported a decline in the number of staff hired over this holiday season.
“This reduction is estimated at around ten per cent with one member having to resort to hiring less people for a shorter period of time, that is, one week before Christmas and the week afterwards. In spite of these economic challenges, members in the retail/distribution sector had not resorted to lay-offs, but rather had curtailed all over-time,” Vaswani noted.
“Overall, the business community is anxiously monitoring their expenses, particularly labour costs. Try as they might, one of our members will be forced to lay-off people in the New Year. Very little growth is expected in the construction sector while food sales are stable. People will eat, even if it means trading down to cheaper brands or more basic foods,” he added.
