The State of Small Business in Barbados

National Survey of the Small Business Sector (Barbados)

4.4 Support Needs to Strengthen Climate Resilience When asked what support would most help strengthen resilience, MSMEs most frequently pointed to financial assistance (approx. 60%), followed by knowledge-based and technical support (approx. 30%). Requests included funding, grants or subsidies, education and training, clearer communication, and early warning systems. Overall, the findings suggest that MSMEs are seeking practical, accessible support that reduces uncertainty and lowers the cost of adaptation, rather than abstract awareness campaigns alone.

Table 4.2: Types of Support Requested by MSMEs (Qualitative Summary) Support Type Examples Cited Financial support Grants, funding, subsidies Knowledge & training Education, guidance, awareness Communication Clear information, early warnings Planning support Contingency planning, expert advice None / unsure No support needed, not sure 4.5 Climate Change Experiences and Responses by Business Size 4.5.1 Preparedness and Planning

Formal climate preparedness is very limited, especially among micro firms: Only 5.8% of micro enterprises report having a formal written plan, compared with 11.6% of small firms and 23.1% of medium firms. The dominant pattern is no planning at all, particularly among micro enterprises: 67.9% of micro firms report no plans in place, compared with 54.7% of small firms and 30.8% of medium firms. Informal actions are more common than formal planning across all sizes (23.0% overall). 4.5.2 Perceived Barriers to Climate Resilience Micro enterprises most frequently cite financial constraints and limited awareness, with responses clustering around: Cost, limited finances, lack of funding, and competing business priorities. Small enterprises highlight structural and operational constraints, including: Rented premises, lack of insurance, limited infrastructure flexibility, and time constraints. Medium enterprises are more strategic in their framing, citing: Uncertainty, underestimation of risk, infrastructure upgrades, and long-term planning challenges. Notably, a non-trivial minority across all sizes report “no challenges” (6.5% overall), often reflecting low perceived relevance rather than resilience .

27

Small Business Association of Barbados