The State of Small Business in Barbados

National Survey of the Small Business Sector (Barbados)

Table 2.8: Distribution of MSMEs by Broad Sector and Ownership Type, 2016 vs 2025 (%)

Ownership Type Female-owned / dominant

Year

Agriculture (%)

Industry (%)

Services (%) Total (%)

2016

7.5

15

77.5

100

2025 2016 2025

5.6 7.7 2.7

2.8

91.5 64.2 79.7

100 100 100

Male-owned / dominant

28.1 17.6

Note. Percentages show the distribution of firms within each ownership type . For example, 91.5% under female-owned (2025) means that 91.5% of all female-owned MSMEs operate in the services sector. 2.4 Age, Experience and Education of MSME Owners 2.4.1 Age Profile of MSME Owners The majority of MSME owners surveyed in 2025 were under the age of 55, with just over three quarters (76.2%) falling below this threshold (see Table 2.9). Owners were most commonly concentrated in the 35-54 age group, which accounted for 56.5% of respondents. Younger owners aged 18–34 represented 19.7% of the sample, while 23.8% of owners were aged 55 and over. Clear differences were observed by sex. Among male owners, 67.9% were under the age of 55, compared with a higher 84.8% among female owners. Female ownership was more heavily concentrated in the 25–54 age range, particularly among those aged 35-54, who accounted for 60.2% of female respondents. Male owners, by contrast, were more likely to be represented in the older age groups, with 32.1% aged 55 or above, compared with 15.2% of females. Compared with 2016, the age profile of MSME owners in 2025 remains strongly concentrated in the mid-career years, but with a slight shift toward a younger ownership structure, particularly among women.

Table 2.9: Age Group of MSME Owner by Sex (%) – 2025 vs 2016 2025 - Age and Ownership Sex of Owner 18–24 25–34 35–54 55–64

65+

Total

Male

0.6 3.5

14.4 21.1 17.7

52.9 60.2 56.5

24.1 11.1 17.7

8

100 100 100

Female

4.1 6.1

Total

2

2016 - Age and Ownership

Sex of Owner

18–24

25–34

35–49

50–65

66+

Total

Male

4.6 0.5 2.9

17.7 14.1 16.2

42

32.5

3.2 3.1 3.2

100 100

Female

58.3 48.6

24

Total 100 Note. All figures are percentage values. Age bands used in surveys (in yellow shades) slightly differ between 2016 and 2025 studies. N = 345. 29.1

17

Small Business Association of Barbados