Barbados Information and Communication Technology (ICT) sector is an area of tremendous growth and potential in Barbados’ world-class business industry, much of which is driven by foreign direct investment.
Barbados is one of the Caribbean’s leading software development and IT service providers offering a competitive cost savings over American providers while enjoying membership privileges within the CARICOM Single Market and Economy (CSME).
When managing their Barbados-based operations, investors will benefit from modern telecommunications systems including up-to-date digital technology and fiber optic systems such as direct international dialing and satellite telecommunications.
The country also offers an excellent infrastructure, with a constant 15/230 volts 50Hz electricity supply in most major residential areas and all newly developed locations as well as island-wide internet services.
Barbados is a prime location for ICT offices such as call centers working with:
— Accounts Receivable Management
— Customer Service, Help Desks and Technical Support
— Inbound/Outbound Sales
— Healthcare and Insurance
The country shares the same time zone with Eastern Canada and the US for six months with only a 1-hour difference for the rest of the year making Barbados a convenient location for call centers dealing with North American clients.
Competitive labor costs, as well as English speaking and service-oriented employees, add to the attractiveness of the island’s workforce. With Spanish now taught as a mandatory subject within the primary school curriculum, more and more Barbadians are becoming bilingual further benefiting US call center needs.
Government subsidized education – from the primary to post-secondary levels – as well as the presence of several training institutions has led to a highly educated workforce with ample opportunity for life-long learning and training options in business management, foreign languages, technical skill building and vocational programs in technology areas.
The Government of Barbados has committed itself to the development of the ICT sector through targeted public policy, ICT specific legislation, national strategies and investment campaigns.
Software developers are further enticed by the following incentives:
— Liberalization of the ICT sector (2001)
— A Technology Training Center
— Training grants of US$50 per employee during the first 18 months of operation
— Affordable, subsidized rental space within ten fully serviced industrial complexes
— Investment incentives for technology manufacturers and technology centers
— Special tax rates on net profits and full exemption from import duties on production related equipment
— ICT specific legislation
— Unrestricted repatriation of capital, profits and dividends
— Free consulting services through the Barbados Investment and Development Corporation (BIDC)
For more information on incentives and services, investors may visit Invest Barbados (IB). IB is located in the capital city Bridgetown with satellite facilities in New York, Miami, Toronto and London.
Investors looking for a premier location in which to base their ICT business will find the full-package deal when considering Barbados.
With a proven track record for service, an open competitive business environment and a stable, enabling atmosphere for foreign investment Barbados leads the pack.