An in-depth review of the potential for services providers to export their services in Barbados.

1. Barbados Market Survey
Mission
BARBADOS MARKET SURVEY MISSION
FRIDAY 11 APRIL, 2014
AISHA STEWART

2. Barbados Market Survey Mission- Basic
Information
Date: January 21- 25, 2014
Number of Meetings Held: 16 services sector meetings
Sectors of Focus: Professional Services, ICT Services and Construction Services

3. Professional Services

4. Professional Services
Based on research the two subsectors of focus were as follows :
MANAGEMENT SERVICES
Focus on:
optimizing current resources
human resource functionality and;
minimizing business cost.
.
ACCOUNTING SERVICES
Focus on:
 business restructuring accounting services,
tax restructuring services and;
financial advisory services

5. Professional Services-Mode of Delivery
MANAGEMENT SERVICES
Business persons are open to doing work
online
Initial meetings should take place face to face.
ACCOUNTINGS SERVICES
Face to Face meetings are preferred by
companies utilizing accounting services.
Business persons have are distrustful about
sharing financial details on line.

6. Professional Services- Power Structure
MANAGEMENT SERVICES
Dominated primarily by small
Barbadian firms.
Large clients are Trinidadian-owned
businesses
Many local firms offer a wide variety of
services comparable to the offerings of
Barbadian firms.
ACCOUNTING SERVICES
The area of accounting services is
dominated by four large multi-
national firms:
Ernst and Young
Price Waterhouse
KPMG
Large firms in Barbados are synonymous with
quality service.

7. Professional Services- Power Structure
MANAGEMENT SERVICES
Work is based on proximity and
relationship with decision makers in
the client companies.
ACCOUNTING SERVICES
Extremely competitive

8. Professional Services- Standards and
Certification
MANAGEMENT SERVICES
Degrees from the University of the West Indies
and noted international degrees are
recognized.
Great emphasis is placed on the reputation
and credibility of the service provider.
ACCOUNTING SERVICES
Accounting Services – service providers must
be registered with the Barbados Institute of
Charted Accountants.

9. Professional Services – Regulatory
Framework
Accounting Services
Service providers who intend to perform accountancy services are required to register with the
BICA.
There is a residency requirement of 6 months before a person can be registered by the BICA

10. Professional Services- Market
Penetration Strategies
Form strategic alliances with large companies/conglomerates in Trinidad and Tobago, with
subsidiaries in Barbados
Two large conglomerates are embarking upon significant restructuring exercises.

11. Construction Services

12. Construction Services
Types of construction services that were the focus of the Barbados trade mission were as follows:
Architectural Services
Engineering Services
General Construction Services

13. Construction Services- Mode of Delivery
Architectural
Services
Mode 1 a viable option
at the initial stages of
constriction
Mode 4 – once
construction architect is
excepted to be on site
Engineering
Services
Mode 1 an option if the
services is focused on
consulting
Mode 4 – engineer is
expected to be on site
General
Contractor
Mode 3- establish a firm
in Barbados
Mode 4 – work with
established firms as a
sub contractor

14. Construction Companies – Power
Structure
General Contractors Sector dominated by three local Barbadian firms. They are as follows:
Innotech Services Ltd
JADA Construction
Rotherly Construction Ltd.
1. The design, build and finance model of completing projects
2. JADA and Innotech both indicated that they often sub contract design elements to
architectural firms.

15. Construction Companies – Power
Structure
Barbadian architectural services and engineering firms have been badly affected by the
economic recession.
The majority of firms depended on the domestic housing market demand.

16. Construction Services-Standards and
Certification
Architecture Services –
Architects that meet the regulatory requirements to practice are not required to attain additional
international standards to work in Barbados.
Engineering Services
Engineers that meet the regulatory requirements to practice do not have to attain additional
international standards to work in Barbados.

17. Construction Services-Standards and
Certification
General Contractors
General contractors are expected to comply with numerous laws and regulation related to
building.
No specific international standards companies or building code are required.

18. Construction Services- Regulatory
Framework
Architecture Services
Service providers are expected to register persons with the Barbados Institute of Architects (no
residency requirement).
The cost for registration of architectural services has recently the fee has been increased to USD
1250.

19. Construction Services- Regulatory
Framework
Engineering Services
To be a registered engineer in Barbados, a qualified person must work with a registered
engineer for four years.
The registration fee is USD 1250

20. Construction Services- Regulatory
Framework
General Construction Services
Contractors have to adhere to Town and Country Planning Division in Barbados.
No building code
Adhere to the Safe and Healthy at work at act ( 2005) in Barbados

21. Co- Financing Assistance for the Sector
1. Assistance with registration fees in the sector - Architectural Services fee has tripled
2. Assistance with legal services directly related with penetrating the Barbados and Jamaican
market

22. Construction Services- Market
Penetration Strategies
Construction
There are several construction projects already in train in Barbados, large contractors in
Barbados are responsible for the entire project following the design and build model.
Barbadian firms indicated that they sub contract work on larger projects
Several large Trinidadian owned Barbadian stores have publically indicate they intend to
expand these include BS and T, Super Centre and ANSA McAL Da Costa Manning.

23. Construction Services- Market
Penetration Strategies
Engineering Services
Local engineers should focus on partnering with local contracting firms since these firms have
been awarded several larger projects to these firms.
Slow demand for engineering consultancy

24. ICT Services

25. Information Communication Technology
( ICT)
The specific ICT services of strategic interest:
Software Development
Computer Engineering
App Development
ICT Infrastructural Services

26. ICT- Modes of Delivery
Mode 1 - ICT firms indicated that the nature of their work the majority of firms do a large
percentage of their work virtually
Relationships play a key role in getting jobs.

27. ICT- Standards and Certification
There were no specific standards and certifications required in the market.
Reputation is critical for ICT service providers to get work.

28. Co financing Assistance
Assistance with legal services directly related with penetrating the Barbados and Jamaican
market

29. Regulatory Guide

30. Temporary Stay
CARICOM nationals can apply for a CARICOM skills certificate.
Trinidad and Tobago nationals meeting the above criteria can apply to obtain a skills certificate
at the Ministry of Foreign Affairs.
Once the service provider obtains the certificate they are permitted entry into Barbados for six
months.
Service providers entering Barbados using a skills certificate are expected to register in
Barbados upon entry.

31. Temporary Stay
CARICOM nationals with CVQ for vocational skills are also eligible to enter Barbados for a 6
month period.
Business persons with a valid contract are allowed entry into Barbados for the duration of the
contract. At the border, service providers would permitted to entry for 6 months. Service
providers with contracts exceeding 6 months are required to follow up the Immigration
department to extend their stay.

32. Temporary Stay
Business persons with a valid contract are allowed entry into Barbados for the duration of the
contract.
At the border, service providers would permitted to entry for 6 months.
Service providers with contracts exceeding 6 months are required to follow up the Immigration
department to extend their stay.

33. Establishing a Commercial Presence
Companies interested in assigning senior management and crucial technical persons to their
Barbadian operations are required to submit the following to the information division:
Valid Passport
Return Ticket
Proof of financial resources for personal maintenance, namely credit cards, travellers’ cheques,
cash or combination