Local Financial Institutions Should Help Small Business Sector

Contact: Primus J. Hutchinson

Friday, August 17, 2001 - Minister for Commerce, International Financial Services and Consumer Affairs, Honourable Philip J. Pierre is calling on financial institutions to come to the aid of the small business sector.   Speaking during a half-day seminar to discuss water quality issues the Minister explained that this assistance would ensure that the small business sector remains viable in the face of global recession. 

“Considerations for the rescheduling of loans and innovative loan payment schemes (and) new lines of credits are measures that can be adopted by financial institutions to ensure the survival of small businesses and the sustainability of their owners and the workers employed with these institutions,” Minister Pierre said.

The Commerce Minister advised small business owners to seek to re-engineer the way they do business to ensure proper business and cash flow management. He also cautioned small business owners to consider changing their lifestyles.

Mr. Pierre assured the participants that the Bureau of Standards has strengthened its professional capabilities to guide local manufacturers, including producers of bottled water, in implementing the necessary requirements to meet global standards.

The seminar on potable water quality standards was organised by the Saint Lucia Bureau of Standards and brought together key stakeholders in the water sector to discuss safety and management issues as they relate to water quality.

Related: Address by Hon. Philip J. Pierre to Seminar On Potable Water Quality Safety And Management Issues

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