Eastern Caribbean Central Bank (ECCB) Governor, Timothy Antoine, has said here that to grow the economies of the region, there is need for more entrepreneurship.
“At the Central Bank we want to encourage entrepreneurship and innovation with appropriate regulation – not too much, but appropriate regulation,” Antoine told reporters.
He was being interviewed as he prepared to address the executive luncheon of the Saint Lucia Chamber of Commerce, Industry and Agriculture.
The event was held today at the Coco Palm hotel.
Antoine said in terms of job creation, which he described as a real issue in the Caribbean, small businesses account for about forty to fifty percent of all employment – sometimes higher in some countries.
“If we want to raise employment or reduce unemployment we have to give more support to entrepreneurship, innovation and small businesses,” the ECCB Governor asserted.
He said it was for that reason that during the just ended Financial Information Month, the ECCB had a Business and Innovation Forum that targeted entrepreneurs and young business people -men and women.
“We believe that’s an important area,” Antoine observed.
“When we talk about growth, ultimately it’s the private sector.”
The ECCB Governor stated that governments must enable with good incentive programmes and policies.