Business View Caribbean | October 2022

33 BUSINESS VIEW CARIBBEAN VOLUME 9, ISSUE 10 BARBADOS STOCK EXCHANGE internal controls and how they run the business, assisting them in understanding what is required to be a public company.” “Phase Three involves raising capital and listing on the IGM.” The BSE hopes to help at least twenty (20) companies reach the Third Phase and list successfully within twenty-four months of the start the project and another thirty (30) companies over the next five (5) years. BSE Mobile Trading App As part of its efforts to reach the younger generation, the BSE is in the latter stages of developing and releasing a mobile trading app. “Millennials, Gen X, and Gen Z are very much technology-driven, and the app will allow them to trade on a stock exchange through their smart devices,” Yarde says. “We know that we need to tap into the younger generation to deepen the Barbados stock market, which is why we are looking at such digital avenues to modernize our outreach efforts.” BSE – Growth Engine for the Barbados Economy These initiatives form the foundation of the BSE’s efforts to become a key growth engine for the Barbadian economy. “One of the main reasons we’re working on these initiatives is that Barbados has a small workforce and limited space to generate tremendous industrial output,” explains Yarde. “We launched the international securities market to grow the BSE and attract international businesses that wish to be domiciled in Barbados. To support this, we have identified three jurisdictions: the UK, where HMRC already recognizes us; Canada, where we are currently working with the Canadian Ministry of Finance; and later, the US, where we’ll work with the