The Impact of the 2016 Barbados Budget

This blog post highlights the areas that anyone with a business, regardless of whether it’s startup, side hustle or established company should pay attention to as a result of the budget presented on August 16, 2016 by the Minister of Finance, Christopher Snickler.   Business opportunities These initiatives are aimed at providing business owners with opportunities for expansion, increase sales… Read more →

Tips for Choosing an Accounting Software Package

Accounting software packages are in high demand amongst business professionals and with good reason. These applications give a business the ability to record and process transactions such as sales, payments, payroll and financing. They also generate fundamental reports such as the Income Statement, Balance Sheet and Cash Flow Statement. There are a variety of applications available which can be bespoke… Read more →

Tax Season Is Here

It’s April and that means tax season for those of us who are sole traders (self-employed) and individuals. This usually means that everyone is busy number crunching, tallying and trying to find as many tax deductibles as possible to ensure a tax refund position.   Changes to tax deductibles When filing for the 2015 income tax year, Barbadians will find… Read more →

Changing Landscape of Corporate Reporting

Due to many recent changes within the business landscape as a result of diversification and technological advancements, it has been argued that the current financial reports are failing to provide users with relevant information.   Proposed changes To address these concerns the Federation of European Accountants (“FEE”) has issued a discussion paper “The Future of Corporate Reporting – creating the dynamics… Read more →

The Impact of Barbados’ 2015 Economic Performance

  The Central Bank of Barbados released it’s economic review of Barbados’ 2015 economic performance on January 19, 2016. Below is a summary of the review with an emphasis on the areas that impacted the private sector.     Tourism Sector There was an increase in airlift from major source markets – UK, Canada, US which contributed an estimated 5% increase… Read more →

Emerging Business Professional

I recently had the pleasure of being interviewed for Barbados Today’s column “Tomorrows Future”. This column highlights and promotes young Barbadian professionals who are making a significant contribution in their chosen profession, and are emerging as today’s future generation of leaders within Barbados and abroad.   I am extremely delighted to share with you my interview in which I shared my passion… Read more →

Is Your Business Network a Benefit or Hinderance?

Since networks are a fundamental aspect of business many business people are keen to join established social and trade associations to raise their profile, strengthen business relationships and provide growth opportunities for their companies. Given the importance of your business network, the need will arise for you to perform an assessment of whether your membership with your chosen association is… Read more →