Barbados' most educated needs to begin to start their own businesses, and also focus on hiring others.
This is in light of the global recession and the fact that there appears to be few jobs available for those graduating from tertiary and secondary institutions each year. This is some of the greatest wisdom coming from the mouth of any Prime Ministry of Barbados since the passing of Errol Walton Barrow, who was a former Prime Minister of Barbados.
Mr. Barrow had made the often repeated phrase which states that "Friend of all, Satellite of none".
Mr. Thompson's speech is one which needed to be said by a prime minister, as more and more are finding it difficult to find their desired forms of employment. This is with a burgeoning situation where our people are becoming more and more educated for less, and less jobs.
"More Barbadians need to consider self-employment as a serious option. Barbados now runs the risk of having large numbers of educated citizens who are unemployed."
This is at a time when big businesses are more and more automating their work space so as to save more and more.
The only option now is for the formation of small businesses which can offer customers a more personalized service than its larger counterparts can offer. Also as the prime minister has persons need to be more innovative in business formation.
Entrepreneurs need to cut new tracts in the business environment of Barbados, by not necessarily trying to re-invent the wheel in all cases, but to improve on what is already available.
The Government must not be only praised on this, but must receive a few lashes to what could be contributing to the current environment.
We in Barbados are raising persons to go to school get a good education and find a "good" job. This can clearly be seen by our education system.
Our education system does not teach students how to have your money work for you. It does not teach you how to become rich without becoming a medical doctor or lawyer. It actually encourages persons to become doctors and lawyers.
Our education systems in Barbados need to start in our primary schools in having students conceptualize their own businesses, and the daily operating of such. They can also be thought to invest in the stock market and hence other companies, and the advantages and disadvantages in doing such.
Government also needs to step in big time and award and assist those who have good business ideas with more venture capital etcetera.
We cannot continue to go down this same road where our brightest minds are becoming slaves; at the beck and call of a few business owners whether they are paid a few dollars are not.
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