It is estimated that Barbadians are spending more than $1 billion via electronic commerce (e-commerce) transactions and that most of this money is going overseas. George Connolly, Barbados Chamber of Commerce and Industry (BCCI) council member and digital technology expert, believes that there is an opportunity for the country to keep more of that money in Barbados.
He says the BCCI is working to establish an e-commerce platform that will help small and medium enterprises (SME) cash in more on online sales. The entrepreneur explored these issues on VOB 92.9 FM during a recent airing of the BCCI radio programme Let’s Talk Business which focused on E–commerce And SMEs Unlocking Growth In The Digital Age.
“Total e-commerce transactions made by Barbadians globally, so cash leaving Barbados, $1.07 billion is the total market value of Barbadian spend on e-commerce. The total spend that stays inside Barbados of that [amount] is $246 375,” Connolly said, referencing information from international e-commerce information sources Grips Intelligence and AfterShip.
