Barbados Stock Exchange

7 BUSINESS VIEW CARIBBEAN VOLUME 9, ISSUE 10 name captured the actual characteristics of that market segment. “We chose the name because the companies we are targeting to list are typically highly innovative and on a growth trajectory,” explains Yarde. As Yarde explains, the BSE is currently working with local state agencies and business associations to help identify and transition SMEs to list on this market segment. “The BSE is working with the Ministry of Business Development and the Small Business Association of Barbados to develop a listing ecosystem for SMEs that conforms to stock exchange standards.” “We have also approached the Caribbean Development Bank to give us grant funding to help us prepare SMEs for listing, which occurs in three phases.” “The first is sensitization and education, where we approach companies through the Small Business Association and explain to them the project and if they are a suitable candidate. Once we identify those companies, we move to the second phase, the diagnostic and capacity- building phase. “During this phase, we target companies with the capacity to list and help prepare them from a corporate governance perspective, including internal controls and how they run the business, assisting them in understanding what is required to be a public company.” “Phase three involves listing on the innovation and growth market and raising capital.” The BSE hopes to help at least twenty companies reach the third phase and list successfully by the end of 2022 and another fifty companies over the next five years.