Annual Report 2020
EXECUTIVE DIRECTOR’S REPORT Misha Lobban-Clarke
INTRODUCTION COVID-19 Pandemic & the Impact on Businesses 2020 was certainly an unprecedented year for businesses not only in Barbados but around the world. No one could have predicted just how life-changing the COVID-19 pandemic would be for us all. A Central Bank report revealed that the pandemic triggered record global recessionary conditions and significantly depressed productive activity in Barbados for 2020, especially in the tourism and tourism-related sectors. The implementation of a national shutdown and other emergency measures by the Government of Barbados in response to the pandemic, impacted businesses hard across all productive sectors. Many businesses were forced to reduce costs, including wage rates and work hours in order to retain employment levels. Amidst the fallout, other businesses had to effect temporary layoffs and even severance of employees. Locally, businesses have had to retool, re-invent strategies and, in some cases, restructure
their operations to remain viable and to ensure business continuity during the ongoing global crisis.
The Chamber’s Response Despite the significant challenges that we faced as a country, we are proud about what we have been able to accomplish as a Chamber during the year. As the trusted voice of the business community with a mandate to facilitate local businesses to grow, the BCCI was responsive in helping the sector survive through the crisis. In the face of the challenges, our priorities from very early in the year focused on lobbying, advocacy, membership and engagement, all aimed at building resiliency and creating new paths to recovery for businesses across all sectors. As the entire country was forced into crisis management mode, we quickly mobilized and worked diligently to ensure members remained informed, had access to useful and timely resources and most importantly, contributed to the critical macro-economic decisions that impacted business operations. The Chamber was equally proactive in lobbying and engaging the Government on behalf of members of
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