The Barbados Chamber of Commerce & Industry (BCCI) is intensifying efforts to revitalise Bridgetown as worry grows over the number of businesses still leaving The City for other areas.
Increased lighting and improved security are among the primary items on the agenda of the Revitalisation of Bridgetown Initiative and BCCI executive director Lisa Gale said the time had come for more companies in the island’s main commercial district to “get on board”.
This, she said during an interview, included accessing special tax benefits offered through the Tourism Development Corporation and facilitated by the Ministry of Finance.
BARBADOS BUSINESS AUTHORITY also learnt that other efforts involving the chamber’s partners and with the assistance of financial support from the Inter-American Development Bank’s (IDB) Multi-lateral Investment Fund.
Gale said with businesses continuing to leave Bridgetown, the latest to be the CIBC FirstCaribbean branch on Fontabelle, her organisation’s effort “to bring more business back to The City” was critical.
“What we have done at the chamber is to try to do more activities, not just the entertainment activities like the Bridgetown Alive event, but we have a few projects underway, including improving lighting, and working with the police to ensure that there is CCTV. There is a hundred per cent CCTV in The City and its environs,” the executive director noted.
“We are calling on the business owners and the property owners to really come on board for our lighting project. Property owners are not taking advantage of improving their properties, which would result in improved lighting and security and the appeal. So that when there is Bridgetown Alive people would feel to come into Bridgetown after normal workings hours as we move to later working hours.”
Gale pointed out that the challenge to retain business in Bridgetown would intensify, considering the added pressure and reduced patronage likely from the retrenchment of 3 000 public sector workers. This was in addition to the predictions of little to no economic growth in Barbados anytime soon.
“So as you can see, these are all the ornaments of what a recession can bring, job losses, closures, downsizing,” she noted.
The project with the IDB seeks to enhance Bridgetown’s international competitiveness “by expanding the economic base and coordinating the redevelopment process that seeks to transform it to a city of diversity operating 24/7 blending commerce with culture, heritage, sports and traditional tourism, accommodation and entertainment operating in a 24/7 environment”.
There are more than 1 900 businesses employing 9 000 persons in the Bridgetown area.