#Bahamas, February 2, 2018 – Nassau – The Cabinet of The Bahamas has approved the launch of the Small Business Development Centre of The Bahamas, Prime Minister, Dr. the Hon. Hubert A. Minnis said Thursday. The launch will take place this year.
The initiative, which is one of several initiatives the Minnis Administration will undertake or has undertaken to help stimulate business ownership and Bahamian enterprise, will be spearheaded by the Government, in conjunction with the University of The Bahamas and The Bahamas Chamber of Commerce and Employers’ Confederation with support from the Organization of American States (OAS).
“This Centre will provide a resource for all Bahamians to receive advisory and technical support when seeking to open a business or expand their operations,” Prime Minister Minnis said.
“The Centre will steer entrepreneurs to available funding opportunities through government or private means. It will also assist business owners in navigating the regulatory and tax registration requirements for a new business,” Prime Minister Minnis added.
Addressing the Bahamas Chamber of Commerce and Employers’ Confederation’s Power Breakfast, Prime Minister Minnis told attendees that his government’s agenda is one of reform, modernization, and transformation, animated by a programme for growth, investment and opportunity.
“Our emphasis is on a dynamic blend of domestic and foreign investment. We are determined in our vision to enhance economic opportunities for Bahamian businesses and entrepreneurs, including Bahamians in the Diaspora.
“I thank the Chamber and the Confederation for partnering with the Government to help boost growth, economic development, employment and opportunity,” Prime Minister Minnis added.
The announcement of Cabinet’s approval of the launch of the Small Business Development Centre of The Bahamas, comes on the heels of the Prime Minister’s announcement that the Minnis Administration has committed to investing $25 million over the next five years to help develop micro-small-medium-sized enterprises (MSMEs) in The Bahamas.
Funding for the project will amount to $5 million per year for the next five years and will be funded through the sale of Government-owned shares in Aliv and the Bahamas Telecommunications Company (BTC).
Prime Minister said the “ambitious initiative” – which has several objectives – will help to stimulate the economy while boosting growth and employment and will also provide specific support for entrepreneurship and MSMEs development within marginalized groups, especially poorer communities and youth organizations. This will include organizations that participate in the Over-the-Hill Community Development Partnership Initiative.
The Prime Minister also announced that the Government of The Bahamas will, this year, waive the business license fees for new businesses in order to encourage business development and small business enterprise. The Government will also, this year, waive business license fees for businesses with earnings of under $100,000 “to help with economic relief for small businesses.”
The Prime Minister’s announcements came during his National Address Monday night (January 29, 2018). The Government also proposes to establish an SME (small and medium-sized enterprises) Tax Help Desk to provide assistance to SMEs on tax matters including the preparation and filing of Value Added Tax (VAT) Returns and invoice formatting, etcetera.
“While large businesses have in-house accounting departments and the resources to engage external accounting and legal services, many small and medium-sized enterprises simply do not have the resources to do so,” Prime Minister Minnis said.
By: Matt Maura (BIS)
Minister Moxey says partnerships for development will help get Grand Bahama going again
#TheBahamas, November 27, 2021 – One means by which Minister for Grand Bahama, Hon. Ginger Moxey plans to utilize every resource at her disposal to get things moving for Grand Bahama again, is to utilize partnerships for development.
“Success with these partnerships on our island are embedded in collaborative efforts between the ministry of Grand Bahama, other government ministries, the Grand Bahama Port Authority, the Grand Bahama Chamber of Commerce, Hutchinson Whampoa Holdings Ltd., industry stakeholders and the business community at large,” explained Minister Moxey.
“We must unite and work together to build alliances for success with the ultimate goal of ensuring that Grand Bahama Island excels. We are all in this together.”
The Minister’s remarks came during her keynote address at the ninth annual Grand Bahama Chamber of Commerce’s Business Excellence Awards Luncheon, which was held on Wednesday, November 24th, 2021 at Pelican Bay resort. The event is held to honor Grand Bahamian business owners for their commitment, achievements and dedication to the development of the second city.
Minister Moxey pointed out that this year’s event, under the theme, celebration of excellence, acknowledges and highlights businesses on Grand Bahama that have stayed the course. She added that this kind of recognition is a beacon of hope for local business owners who have faced and overcame some of the most challenging circumstances ever encountered within the island’s history.
“On November first during my contribution on the bill to thank the Governor General for his Speech from the Throne, I pledged to the nation that I would do the people’s business and utilize every resource at my disposal, to get the job done for Grand Bahama,” said Minister Moxey.
“As a Grand Bahamian and business owner, I can attest to the challenges we have faced over the past decade. The devastation of Hurricane Dorian in 2019, which was closely followed by the onset of the Covid-19 pandemic in 2020. It further strained our already fragile economy. Today’s administration is also well aware of the challenges that Grand Bahama has faced over the past decade. Nevertheless, we will deliver on our commitment to recover, rebuild and revolutionize our island, our economy and usher our people into the new day.
“I would like to thank all of the businesses represented today, that have kept their doors opened and our people employed. To all of the Business Excellence Award nominees, I congratulate you. Remain encouraged and know that your efforts have not gone unnoticed.
“To the Grand Bahama Chamber of Commerce, thank you for being a staple in the business community and for celebrating excellence for the past nine years. Welcome back business excellence awards.”
By Andrew Coakley
Photo Caption: Minister for Grand Bahama, Ginger Moxey (right), along with President of the Grand Bahama Chamber of Commerce, Greg Laroda presents Mrs. Leslie Baptista, of Paint Fair, with the President’s Award, during the ninth annual GB Chamber of Commerce’s Business Excellence Awards Luncheon, which was held on Wednesday, November 24th, 2021 at Pelican Bay resort.
(BIS Photo/Andrew Miller)
Invest Turks and Caicos Attended Caribbean Hotel Investment Conference & Operations Summit
#TurksandCaicos, November 24, 2021 – Invest Turks and Caicos (Invest TCI) is pleased to announce the Agency’s participation in the 10TH Caribbean Hotel Investment Conference & Operations Summit (CHICOS) held November 10th-12th, 2021, at the Grand Hyatt Baha Mar in Nassau, Bahamas.
CHICOS is one of the premier hospitality conferences in the region. In its 10th year, this event brought together more than 300 regional and international investors and operators and the region’s leading decision makers – all to discuss the region’s markets and possibilities.
Invest TCI participated in the Caribbean Government Leaders plenary session on Friday, November 12th, alongside the Bahamas Investment Authority, Invest St. Lucia, and JAMPRO. The plenary discussions focused on the investment environment of Caribbean economies in a post covid environment under two key themes: diversification of the economy and tourism and the need for greater involvement of (and positive impact on) local communities.
Attending the summit on behalf of Invest TCI was Interim CEO, Angela Musgrove and Legal and Compliance Officer, Judith Garland.
Commenting on the summit, Ms. Garland stated, “I was delighted to represent the Agency at the 10th Anniversary edition of CHICOS. I found the sessions engaging, and the industry trends and knowledge imparted was most valuable. It was great to meet new faces and establish relationships with industry colleagues, which can present mutually beneficial partnerships and relationships in the future.
Interim CEO Angela Musgrove stated, “Invest TCI will continue to support and leverage industry conferences to promote opportunities in the Turks and Caicos Islands. This is the Agency’s 5th year attending CHICOS, and it has allowed us to directly engage with potential investors and prospects interested in doing business in the TCI. Through these types of events, the Agency can continue to proactively target new investment opportunities, lucrative partnerships, and financial opportunities that contribute to overall economic development.”
For more information on upcoming events, visit our website at investturksandcaicos.tc.
Bahamian Para-Athlete Erin Brown to Become Godmother of RC’s Odyssey of The Seas
#TheBahamas, November 24, 2021 – A Bahamian woman who lost her leg to cancer and went on to defy odds and inspire thousands will be named godmother of Royal Caribbean International’s Odyssey of the Seas. Erin Brown, a 41-year-old mother of two and a para-triathlete who cycles, runs, swims and competes at an international level, will accept the honour at a special ceremony in Florida later this week.
“From the moment we heard the story of Erin, how her courage and determination in the face of adversity inspired others and led to a more inclusive consciousness about succeeding with disabilities, we were moved and knew she was a great candidate for godmother of our newest ship, Odyssey of the Seas,” said Michael Bayley, president and CEO, Royal Caribbean International. “A godmother serves as the guiding spirit of the ship and brings good luck and safe travels to its crew and guests.”
While she was in college participating as a track and field athlete, Brown was diagnosed with a rare form of bone cancer called osteosarcoma after suffering a fall that resulted in a broken leg. After more than a year of chemotherapy, her tumor showed no signs of shrinking, and Brown made the difficult decision to amputate her limb above the knee. Brown, who watched her own mother struggle for five years before losing her battle with lupus linked to cancer, knew she had to keep going because her child depended on her. She underwent surgery and woke up to one less leg. “Mind over matter,” she repeated. And then, she re-invented herself.
She said she recognizes now that her disability was a signal to start over. The first time she completed the 100-mile cycling event, Ride for Hope, raising money for cancer research, education and prevention, she led a group of adaptive athletes who heard the thunderous applause and cheers from the crowd that had witnessed the one-legged cyclist achieve what few with two legs could on the hilly terrain.
“A sudden change like the one I experienced is just an opportunity to rebrand yourself to yourself and to society. All those skills you had before – you still have them,” said Brown who has gone on to become an advocate for rights for the disabled and works at the University of The Bahamas as the compliance officer and counselor for the physically challenged.
“Having Erin as our godmother is a fitting way for us to pay tribute to The Bahamas,” said Bayley. “Our company’s very first port of call outside the U. S. was to The Bahamas more than 50 years ago. To this day, Nassau remains one of our most popular ports of call and Perfect Day at CocoCay remains our top pick by our guests. We are excited about this ceremony and honouring our long-time partners, as well as the newest Bahamian flagged ship in our fleet.”
Photo Caption: Erin Brown, who calls herself a limb-difference individual, will be named the first Bahamian Godmother of a Royal Caribbean International vessel when she presides over the naming of Odyssey of the Seas.
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