August 11, 2023
A market-leading recruitment firm based in Barbados is looking forward to an increase in job opportunities across several Caribbean countries after the Caribbean Development Bank (CDB) and other international organizations have recently amped up their support of regional micro, small and medium-sized enterprises (MSMEs).
“This is one case where it’s safe to say that we expect a trickle-down effect, should all go well,” said Joseph Boll, Caribbean Employment Services Inc. CEO. Caribbean Employment Services Inc. is a market-leading digital talent acquisition service that aims to connect the top talent from the Caribbean with hiring managers, HR professionals and decision-makers in companies both within the Caribbean as well as abroad.
His comments come on the heels of the CDB revealing initiatives aimed to promote growth of MSMEs in Antigua & Barbuda as well as Belize. In Antigua, a joint two-year project between the CDB and CARIFORUM European Union Economic Partnership Agreement (EPA) aims to help small businesses tap into EU markets, maximizing their earnings potential. Meanwhile, in Belize, a USD$12.5 million line of credit aims to help create more MSMEs in the country. For Belize in particular, the potential for more job opportunities is great as the CDB project is just one of many similar initiatives launched in the country in the past few months. The combined support of local businesses and entrepreneurs is particularly likely to have a positive effect.
According to the CDB’s own data, Caribbean MSMEs contribute around 60-70 percent to GDP, and account for around 50 percent of Caribbean jobs. In Belize, that figure is as high as an estimated 90 percent of jobs in the country. As such, greater support of MSMEs can have a major, positive impact on employment across the region.
With more support for MSMEs to launch, expand and flourish, they can garner better economic growth that would allow them to hire more employees and provide more job stability to their existing staff complement. This is why Caribbean Employment Services Inc., along with economic leaders in the region, continue to encourage support of MSMEs through initiatives such as the CDB’s.
“Caribbean Employment Services Inc. looks forward to the success of these and similar initiatives that will increase job opportunities, and we remain ready to help small businesses recruit top talent as well as jobseekers find their perfect career match,” said Boll.