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It was another first for Barbados when the Association of Certified Chartered Accountants (ACCA) and the Barbados Small Business Association (BSBA) signed a Memorandum of Understanding.   The signing which is the first of its kind in the Caribbean took place on Thursday 08th October, 2009 and will see the two associations working together to better support the SME sector.

As she welcomed the signing of the MOU, Mrs. Celeste Foster, president of the BSBA stated that by working with ACCA she expects the partnership to bring greater professionalism and accounting rigour to the SME sector.  She further mentioned that she hoped the agreement would help to create a framework that caters to small businesses; being effective but less burdensome. 

The MOU which has only been signed in Zambia was signed by Brenda Lee Tang, Head of Corporate Development, ACCA at the BSBA’s Pelican Head Office.  Ms. Lee Tang said,  "the signing signified the pledge of the association to its membership as it first approached the organization out of a commitment to the development of the sector."

The ACCA representative further remarked that with larger businesses collapsing, small businesses are supporting the economy and thus it was imperative that the framework is strong.

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