National Meeting Turn
This is one of 3 initiatives es that is being planned to assist the island in the short, medium and long term. Combined with the other 2 initiatives, we will be well on our way to the much-needed economic revolution in Barbados.
The idea of the meeting turn is not new but putting it under a nationwide umbrella and online is. In reality, the meeting turn is a short-term loan without restrictions. While contemplating a possible solution that broaden the base thereby assisting more persons in the short and medium turn to have a source of financial assistance, the idea of utilizing the meeting term came to mind not in the old traditional way but combined with technology and placed on an online platform utilizing crowd funding with circular base of clusters.
The benefits are that crowd funding is that it will broaden the base of the source of funds. It is not meant to accelerate the pace by which funding is received. It will still maintain an analog format as some persons can physically take their contribution to the pool however it source of growth may most likely be through an online system where each person in the meeting turn is contributing to their own turn as well as contributing to specified number of other people’s meeting turn.
For generation the meeting turn has been the source of financing for working class Barbadians. They too are still in need of some short term or medium-term financial assistance. The benefits of this idea will be far reaching if the people support this initiative.
To protect the integrity of the system, I am in discussion with a financial institution in Barbados. To control the risks associated with this system several controls will be put in place.
I thought it best to reach out to Barbados to obtain their feedback through the SURVEY below as to the development of this initiative.