Poverty Reduction Strategy Paper - UNDP Barbados and the OECS ...

individuals and they are not covered (by the NIS at least) for eventualities such as
sickness and/or employment injury etc.
It is estimated that there are 35,150 persons employed at the end of the year 2000,
with approximately 6,450 persons working in the Informal Sector. This represents
18% of the employed population and 12% of the labour force. A breakdown of
the informal section is shown in Table 5.
Table 5: Categories of Persons in the Informal Sector
Final SVG I-PRSP Revision June 2003
Categories Number
Fishing
463
Higgler/Huckster 500
Own Account Small Farmers 5,000
Vendors 150
Tour-Guides 171
Other 166
Total 6,450
N.B: The above figures should only be used as a guide
For a country with a population of 110,000 these figures (approximates) are
significant. They speak to needs of accessing finance; organizing and education;
‘capitalizing’ on the existing entrepreneurial spirit and the nation’s indigenous
resources. There seems to be an obvious correlation between the current high
unemployment and the increased activity in the Informal Sector. Poverty
Reduction strategies need to focus on the Micro enterprise and informal sectors
of the country providing financial, business and educational support.
Understanding the current efforts in these areas is necessary to developing
strategies. Hence the need for further research on the informal sector.
5.3 Greater and better investments in Human Capital
Strategies to address the issue of Reduced Social/Human Capital and Social Exclusion
must be aligned with strategies for economic growth and job creation. Such strategies
include the following components which are underpinning factors in the entire
development of the I-PRSP:
? ? Greater and better investment in Human Capital
? ? Promoting public participation
? ? Community Empowerment
? ? Strengthening Social protection for specific groups
? ? Promotion and strengthening of Social Capital
? ? Improving social responsibility
? ? Promoting gender equity
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