Small business owners have been advised to get comfortable with the terms “cryptocurrency”, “metaverse” and “block chain”.
Minister of State in the Ministry of Foreign Trade and Business Development Sandra Husbands said following the COVID-19 pandemic, technology had become the heartbeat of businesses.
“There is no denying that the pandemic exposed companies and entire industries that really weren’t resilient or agile enough to adapt to the rapid changes in the market. As a result, a post-pandemic world saw technology and access to data becoming not only the backbone of a business, but it became its heartbeat,” she said.
Husbands was addressing the church service at People’s Cathedral yesterday to mark the start of Small Business Week, organised by the Small Business Association of Barbados (SBA).
“The digital frontier is here. It has propelled transformations and disrupted the human condition. We cannot deny that the world is now caught up in a wave of digital transformation which undeniably remains the best chance for businesses to compete, deliver a great customer experience and unlock future success. It offers organisations a unique platform to accelerate their growth and take advantage of unique market opportunities,” she told the congregation. (AC)