Tax incentives should be offered to people to encourage them to invest in small and micro businesses.
That suggestion has come from Minister of Small Business Donville Inniss, who says a substantial amount of the $9.4 billion sitting in banks in Barbados could be put to better use.
He made the comments yesterday while speaking at Crumbz Bakeries’ annual luncheon and staff awards at the University of the West Indies’ 3Ws Oval.
The outspoken minister said of that amount, 47 per cent belonged to private individuals.
However, he contended that those people were benefiting very little from having their money sitting on the bank due to the low interest rates being offered. (RB)
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