Pillar Presentation - Government Policy
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Transcript of Pillar Presentation - Government Policy
Government Policy Pillar
Summit Outcome & 2011 Action Plan
Mission
Set the conditions for a Business friendly Barbados in 2011 in order for Barbados to be the #1 Entrepreneurial Hub in the World by 2020
What does World Class look like?• Supportive Regulatory Environment - India - rapid change to make businesses creation easier• Low corruption with strong and enforceable laws- in USA• IP protection – in USA• Government Support to R&D – California, Defense Dept funding of internet research , rapid licensing for commercialization of ideas from universities• Government commitment to education – Israel R&D programme in science and technology• Access to capital – Public and Private partnership 50/50 in Israel
WHERE IS BARBADOS ON THE BENCHMARKS – INDICATORS (score out of 10)
Benchmark / Indicators World Class Barbados
Create supportive regulatory environment
USA - 8 4
Culture in the Public Sector 2
Support to Innovation Israel - 8 3
Social Partnership ??
SITUATION in BARBADOS
Create supportive regulatory environmentLack of clarity and inconsistent application of legalisationSlow turn around times from Government departmentsSlow legalisative changesGovernment monopolies
Culture change in the Public SectorLack of will to drive significant changeLack of facilitation of business issues
Support to InnovationToo much process
Social Partnership• Lack of meaningful collaboration •Reactive not proactive
National Policy for Entrepreneurship
‘Business friendly Barbados’Key Themes: Create supportive regulatory environment Culture change in the Public Sector Support to Innovation Social Partnership Facilitation of business (separate pillar) Education – cultural change (separate pillar)
‘Business friendly Barbados’ Create supportive regulatory environment
Improve and enforce IP, NDA and copyright laws - S Business focussed immigration (skills and capital
inflow priority) - S Clarity, communication and enforcement of
legalisation – S Identify and measure progress by benching against
global competitive index – S Accessibility to non-sensitive Government information
(FOI act) – S Timely updating of legalisation to facilitate business
(eg Tourism Development Act) – M Flexible tax system to encourage risk and start ups –
M Removal of Government monopolies (eg CBC TV) - L
‘Business friendly Barbados’
Cultural Change in Public Sector Review systems and conditions in order to
upgrade capability – S Simplify processes to increase competiveness -
M Create a ‘customer’ focus - L Increase accountability for Public Sector leaders
to deliver - L
National Policy for Entrepreneurship – ‘Business friendly Barbados’
Support to Innovation Services led not just product (science and
technology) innovation - S Coordinated implementation of ‘e-commerce’
policy - S Clarity on how to rapidly achieve the ‘Green’
economy – S Increase Government internal use of IT - M
National Policy for Entrepreneurship – ‘Business friendly Barbados’
Social Partnership (Public, Private and Labour) Increase Social Partnership engagement (3 x
champions per pillar) - S More capital available and the capability to
deliver it (Finance Pillar) Factoring services for Government debt – S Private sector help in drafting and preparing
initiatives for government - S Government pay businesses on 30 days - M
National Policy for Entrepreneurship – ‘Business friendly Barbados’
Facilitation of business (separate pillar) Define micro business and bring into formal
sector (Small Business Act) Education – cultural change (separate pillar)
2011 ACTION PLAN – EXECUTING THE PLAN
What Why When Who Status Remarks/Actions/Measures