Finance for Small and Mediumsized Enterprises in the Caribbean

image of Finance for Small and Mediumsized Enterprises in the Caribbean

Small and mediumsized enterprises (SMEs) are seen as the engine of economic growth and employment creation in the Caribbean, as in other parts of the world. This study explores the difficulties such enterprises have in accessing longterm financing and how these could be overcome. The book reports the results of a survey of SMEs from ten Caribbean countries, and a parallel study of lending institutions that might be expected to offer finance to SMEs. The author offers a commentary on the differing perspectives of SMEs and lenders to the problem of finding affordable longterm financing, and suggests policy options for improving access to finance for this sector.



Survey Methodology and Experience of Researchers

It was decided to conduct the survey in the largest CARICOM counties, i.e. Guyana, Belize, Jamaica, Trinidad and Tobago, and Barbados, and two countries each in the Windward and Leeward Islands – St Lucia, Grenada, Antigua and Dominica. An additional country, St Vincent, was also included in case the responses from the Windward Islands proved unsatisfactory. The choice of countries was made on the basis of the known extent of economic activity in the region; it also sought to capture a representative sample of all the countries in CARICOM geographically.


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