Business
Government Unveils Nationwide Cooperative Programme to Empower Entrepreneurs and Boost Efficiency
Government unveils nationwide cooperative programme to empower entrepreneurs, reduce costs, and drive efficiency. Initiative coincides with UN's International Year of Cooperatives, emphasizing benefits of collaboration for sustainable business growth.
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Originally published by barbadostoday.bb (opens in new tab)
The government has unveiled an ambitious nationwide programme to foster business collaboration through cooperatives, aiming to empower entrepreneurs, cut costs, and boost efficiency.
Announced during Wednesday’s parliamentary committee hearing on the Appropriation Bill, the initiative coincides with the UN’s International Year of Cooperatives, underscoring its global significance.
Brent Gittens, Registrar of Cooperatives, highlighted the initiative’s role in reducing costs, improving efficiency, and driving sustainable business growth.
“Pooling resources—whether for equipment, bulk purchasing, or business expansion—is always a better approach. We are actively engaging communities to demonstrate that working in groups leads to greater economic success,” he told House lawmakers.
With 2025 designated the International Year of Cooperatives by the United Nations General Assembly, the government is seizing the opportunity to increase public awareness and encourage business collaboration.
The Cooperatives Department’s outreach programme has already made strides, with teams recently engaging small business owners in St Lucy. The response, according to Gittens, has been overwhelmingly positive, with many entrepreneurs recognising the advantages of working together. The initiative is now being expanded to St Peter and St Thomas.
The government’s cooperative push has already yielded success stories, including the Unified Trust Cooperative, which emerged from a business cluster partnered with the Trust Loan Fund.
Other ventures, such as a beekeeping cooperative, have also taken shape, with industry participants realising that joint investment in equipment and production offers a more sustainable and profitable business model.
Gittens stressed the ease of forming a cooperative, which requires just ten members and a viable business plan.
“Our role is to ensure that each cooperative is structured for success. We guide entrepreneurs through the process, helping them formalise their ideas into profitable ventures,” he added. (SZB)
