Charter Presented by Celeste Foster The Productivity Council - Week of Excellence 2015 February 26, 2015

Our Vision: Entrepreneurs Island by 2020 2/26/2015 Barbados Entrepreneurship Foundation Charter - www.barbadosentrepreneurshipfoundation.org

Why this is Essential for our Nation’s Future The global recession of 2008 unearthed the vulnerabilities of being dependent on two main economic sectors – tourism and offshore business - controlled by exogenous variables. We are presented with the opportunity to chart a new path forward leveraging our strengths – highly educated workforce, strong governance and excellent infrastructure; while remedying our weakness – government bureaucracy, access to finance and limited competitiveness. 2/26/2015 Barbados Entrepreneurship Foundation Charter - www.barbadosentrepreneurshipfoundation.org

Economic Diversification We must diversify our economy to Sustain highly skilled jobs that utilise our high educational standards Attract overseas entrepreneurs who bring skills and resources that foster indigenous dynamic small businesses Advance technology and business skill to grow our SMEs Develop more export capable businesses 2/26/2015 Barbados Entrepreneurship Foundation Charter - www.barbadosentrepreneurshipfoundation.org

Government Policy Pillar MANDATE - To work closely with relevant stakeholders to advise and influence government on the execution of the Charter on Entrepreneurship Co- Champions: Dr. Jeannine Comma & Ms. May Hinds Mr. Tim Thorogood, Ms. Tricia Watson, Ms. Celeste Foster ACHIEVEMENTS Charter shared with Government and Opposition Included in Protocol VI of Social Partnership Agreement 2/26/2015 Barbados Entrepreneurship Foundation Charter - www.barbadosentrepreneurshipfoundation.org

Charter Focus Human Resource Development Finance and Investment Business Facilitation 2/26/2015 Barbados Entrepreneurship Foundation Charter - www.barbadosentrepreneurshipfoundation.org

Human Resources Development 2014 - 2018 2015 Establish a national entrepreneurial mentoring scheme that leverages experience from the diaspora 2016 One-Stop-Shop for MSMEs to facilitate all government transactions. 2016 National Entrepreneurs’ Portal - a resource and roadmap for business development and opportunities 2018 Reform school curriculum to embed enterprise and entrepreneurship training from Primary to Tertiary levels. 2/26/2015 Barbados Entrepreneurship Foundation Charter - www.barbadosentrepreneurshipfoundation.org

Finance and Investment 2014 -2019 2014 Create Equity Financing Opportunities 2015 MSME Friendly, Responsive, Banking and Investment System Research development as a fulcrum for business development. Modernise Legislative Framework Attractive Tax Incentives for Venture Capitalists Revamp Stock Exchange 2/26/2015 Barbados Entrepreneurship Foundation Charter - www.barbadosentrepreneurshipfoundation.org

Business Facilitation/Government 2014 -2018 2014 Building an Entrepreneurial Culture through sustained public education campaigns, sharing of success stories 2015 National delivery standards established to improve efficiency and competitiveness SME friendly Export Incentive Scheme as part of revised Small Business Development Act 2017 Immigration and Tax Policy that expedites relocation of entrepreneurs to Barbados 2018 Diversification towards a mixed and competitive economy 2/26/2015 Barbados Entrepreneurship Foundation Charter - www.barbadosentrepreneurshipfoundation.org

Call to Our Community – Join us! This Charter aims to achieve something fundamental for Barbados which will improve the lives of everyone involved with Barbados. It is not aimed at Government alone; many objectives require action from other groups and individuals in the community. This is a call to action for all Barbadians at home and overseas, and to all residents and friends of Barbados. The Barbados Entrepreneurship Foundation will work with all organisations to achieve this Vision. 2/26/2015 Barbados Entrepreneurship Foundation Charter - www.barbadosentrepreneurshipfoundation.org

Thank You ! Website: www.barbadosentrepreneurshipfoundation.org Email: info@barbadosentrepreneurshipfoundation.org Telephone: 246.621.2130 / 246.253.8175