Topic > Business Expansion in Barbados - 1722

The 1900s brought an era of business expansion in Barbados. Many of Barbados' largest and most successful companies began to expand into the Caribbean seas and northern Canada. Companies had a variety of reasons for looking to expand and this varied from each individual company. Foreign companies began moving out of the Caribbean, which allowed Barbadian companies to move in and replace them. Technological advances allowed companies to export goods to a larger area which allowed for expansion. The creation of manufacturing sectors within companies led to the expansion and supply of products to companies in neighboring countries. The collaboration of local companies with large international companies from Europe, Asia and North America has enabled Barbadian companies to expand into other regions. Local reputation appears to have been an important factor in allowing companies to expand by supporting their economic interests. Companies that will be examined include Barbados Mutual Life Assurance Society, BICO, Collins Pharmacy, DaCosta, Simpson Motors, Goddard Enterprises Limited and Everson R. Elcock and Co Limited. Barbadian businesses expanded into the region during the 20th century to grow their businesses that created economic success. First, the withdrawal of foreign companies moving from the region will be examined. Before Caribbean insurance companies began to expand, this field was dominated by British and Canadian insurance companies. The Barbados Mutual Life Assurance Society had expanded from Barbados in the past, however it was with the help of the withdrawal of foreign companies that it achieved its greatest expansion. During the 1970s, Canadian companies such as Sun Life and many others began to withdraw from auto... middle of paper... the company was able to benefit from the withdrawal of foreign companies, while BICO and Barbados Shipping and Trading have benefited from technological advances. Goddard's, Everson R. Elcock, Simpson Motors, DaCosta and Company and Collins Pharmacy have all benefited from good local reputations and from being leaders in the manufacturing and exporting industries. Overall, these companies have continued to be successful into the 21st century and have expanded their operations further into North America. An example of this is Goddard's partnership with Schneider's, a Canadian company headquartered in Guelph, Ontario.33 This continued business expansion demonstrates the competitiveness and maturity of Barbadian businesses from an economic perspective in North and South America. Without business expansion throughout the 20th century, Barbadian businesses would not be as developed as they are today.