Connect with us

Bahamas News

Access Accelerator Small Business Development Centre Launched in Grand Bahama  

Published

on

#Freeport, GB, February 3, 2019 – Bahamas – Funding for micro, small and medium sized businesses is now available, Deputy Prime Minister and Minister of Finance, the Hon. K. Peter Turnquest said during the launch of the Access Accelerator Small Business Development Centre.

“Unfortunately, the dream of starting a business is often overshadowed by how much of a hassle it can be; and I can tell you from personal experience, particularly as a Grand Bahamian, the struggle is real, DPM Turnquest said at the launch held at the Bishop Michael Eldon Auditorium, Thursday, January 31, 2019.

He added, “It is true that many of the most successful businesspersons all over the world arrived at success only on their third, fourth of fifth try at success. But it is also true that in The Bahamas, we are still far from having a culture of entrepreneurship that supports small businesses and aspiring business owners.”

Also in attendance at the launch were: Jeffrey Andrews, chairman of the Small Business Development Centre (SBDC) Board of Directors; Gregory Laroda, president, Grand Bahama Chamber of Commerce; Kevin Darling, Royal Bank of Canada; David Rolle, Bahamas Development Bank; Michael Cunningham, Bahamas Development Bank; and Dr. Ian Strachan, University of The Bahamas.

DPM Turnquest said many have been trained to chase jobs rather than be self-employed and in Grand Bahama some have been expected to work for government, BORCO or at the Port, instead of opening a hair salon or plumbing business.

“Many parents are naturally looking for security for their children, and want to teach them practical skills, but in this 21st century, it is safe for young people to take bigger risks; to believe in themselves and to invest in their dreams.”

He noted that a culture of entrepreneurship needs to be created in the country and micro, small and medium sized businesses should be valued more.

“We must do this beyond helping entrepreneurs to believe in themselves. We must help them to start and grow their businesses; and we must help them to thrive.”

The DPM referred to the Access Accelerator SBDC as the vehicle to stimulate Bahamian ownership.  He said, “The SBDC is the centre stone of the Government’s campaign to stimulate Bahamian ownership, to invest in entrepreneurs and to provide micro, small and medium sized businesses the incentives and assistance needed to survive and thrive. This is a core part of our recipe to grow the economy and thereby create jobs and wealth.

“This programme is very unique because it takes entrepreneurs from inception to financing; and it provides mentorship and handholding even after new businesses have started operating.

“In the past, we have had programmes that provided entrepreneurship training, but access to capital for new businesses was nearly impossible to secure. There have been programmes that offered financing, but the mentorship was non-existent. The SBDC takes a holistic approach that considers the full range of needs that entrepreneurs have. So Grand Bahama, I want you to spread the word and put the SBDC to work, because they are here for you!”

The DPM also explained that through the SDBC, Bahamian entrepreneurs will have access to: Government Guaranteed Loans; Business Grants; and Equity Financing. Further, a large portion of the grants will be earmarked specifically for impoverished youth up to the age of 40 from the Family Islands.

“The Loan Guarantee Programme will allow Bahamians to access loan money to invest in their businesses without having to meet the traditional equity requirements. The average entrepreneur starting a business does not have a house to put down as equity or a large inheritance to put aside. The Loan Guarantee Programme will make financing accessible for participants who go through the SBDC training and advisory programme.”

He also noted that under the programme, the frustration of the lack of funding will be removed and potential entrepreneurs will have access to training and advisory services.  In addition, with the signing with the Bahamas Development Bank and Royal Bank of Canada, it is expected that banks may look differently at investing in small businesses.

The DPM introduced five entrepreneurs who have participated in the SBDC’s training and advisory programme and who have advanced to the funding stage: Petula Henfield, a pizzeria owner; Nicole Johnson, a private internment and related services provider; Sherril Bethel, a sea glass jewellery designer; Moses Pitter, a full service solar energy product manufacturer; and Kenroy Harris, who produces fresh drinking water and ice.

 

By Robyn Adderley

Release: BIS

Photo Captions:

Header: The Deputy Prime Minister and Minister of Finance, the Hon. K. Peter Turnquest (centre) along with Kevin Darling of the Royal Bank of Canada (left) and Jeffrey Andrews, chairman, Small Business Development Centre, signed an agreement enabling micro, small and medium sized businesses to access funding following training.

First Insert: Deputy Prime Minister and Minister of Finance, the Hon. K. Peter Turnquest, announced the official launch of the Access Accelerator Small Business Development Centre during a town meeting at the Bishop Michael Eldon School Auditorium, Thursday, January 31. 

Second Insert: The official launch of the Access Accelerator Small Business Development Centre was well attended, Thursday, January 31. 

 

(BIS Photos/Lisa Davis)

 

 

 

 

Continue Reading

Bahamas News

Caught in the Net, Not Accused of Wrongdoing

Published

on

What the Attorney General must do now to protect Bahamian exports

Deandrea Hamilton | Editor

NASSAU, Bahamas — The United States’ decision to impose a 12.5 percent tariff on Bahamian exports is about more than higher costs for seafood, rum and other goods entering the American market. It is a warning that The Bahamas must move quickly to strengthen or clarify its legal framework governing forced labour and supply-chain enforcement.

The tariff, which takes effect July 24, is part of a sweeping U.S. trade action affecting 60 economies following a review by the Office of the U.S. Trade Representative (USTR). The review concluded that the listed countries have not adequately prohibited or enforced measures against goods linked to forced labour in global supply chains.

The action follows a recent U.S. Supreme Court ruling that invalidated an earlier series of Trump-era tariffs imposed under emergency powers. In response, the Trump administration shifted to a different legal authority—Section 301 of the Trade Act of 1974—using findings from a U.S. Trade Representative investigation into forced-labour compliance to support a new round of tariffs affecting 60 economies, including The Bahamas.

Importantly, the action does not accuse Bahamian businesses of using forced labour. Instead, it reflects the U.S. view that The Bahamas’ legal or enforcement framework does not yet meet the standard Washington expects.

That distinction matters.

The Attorney General’s Office now has the responsibility to lead the country’s legal response. That begins with determining precisely what concerns the U.S. Trade Representative identified, reviewing whether Bahamian law adequately addresses those concerns and, where necessary, recommending legislative or regulatory changes. If deficiencies exist, legal amendments and stronger enforcement could help position The Bahamas for removal from the tariff list.

The government may also seek formal discussions with U.S. officials while those reforms are undertaken, outlining a clear timetable for compliance and demonstrating that the country is committed to meeting international labour standards.

A Nassau Guardian front-page report on July 24 drew attention to the tariff action, prompting broader questions about why The Bahamas was included among the 60 economies affected by the U.S. trade measure and what steps are now needed to restore full confidence in the country’s trade framework.

For many Bahamians, the immediate concern will be the fisheries sector, one of the country’s largest export industries. Commercial shipments of lobster, conch, fish, crawfish and other products entering the United States could become more expensive because of the additional tariff, potentially affecting exporters’ competitiveness.

The broader lesson is that international trade increasingly depends not only on quality products, but also on strong business relationships and confidence in the legal systems that govern them.

For The Bahamas, this is less a finding of wrongdoing than a reminder that international credibility is earned through modern laws, effective enforcement and trusted partnerships. The challenge now is for the Attorney General’s Office to lead a swift legal review, identify any deficiencies and chart a clear path toward compliance so Bahamian exporters are not burdened any longer than necessary.

Continue Reading

Bahamas News

What 45 Shell Casings and New Murder Charges May Mean for Three Officers in the Azario Major Case  

Published

on

By Deandrea Hamilton | Editor

NASSAU, Bahamas (July 16, 2026) — The allegation is as shocking as it is consequential. Prosecutors now contend Azario Major was struck by additional gunfire after he was already dead.  That conclusion has prompted the Director of Public Prosecutions to upgrade the case against three police officers from manslaughter to murder ahead of a judge-only trial.

According to court filings and the DPP’s review of the forensic evidence, prosecutors allege that additional rounds entered Major’s body after death, a finding they say fundamentally changed their assessment of the case and justified the more serious charge of murder.

Investigators recovered 45 spent shell casings at the scene of the Boxing Day 2021 fatal shooting of Azario Major, a striking piece of forensic evidence that has remained central to the case from its earliest days.

Major, 31, was fatally shot by police outside Woody’s Bar on Fire Trail Road on December 26, 2021. While police initially maintained the shooting was justified, the circumstances surrounding the incident were heavily scrutinized during a Coroner’s Court inquest, where jurors ultimately returned a verdict of homicide by manslaughter.

The officers later challenged that finding, but the Supreme Court upheld the Coroner’s Court ruling, paving the way for criminal proceedings. They were subsequently arraigned on manslaughter charges and pleaded not guilty.

The DPP’s decision to elevate the charges to murder significantly raises the legal stakes. Unlike manslaughter, which does not necessarily require proof of an intent to kill, a murder conviction requires prosecutors to establish the legal elements of the more serious offence beyond a reasonable doubt. The prosecution’s case is now expected to focus heavily on forensic evidence, ballistic analysis and the sequence of gunfire during the fatal encounter.

The case is also notable because it will proceed without a jury. Barring further delays, the trial is expected to open on September 14 before Justice Guillimina Archer-Minns in a judge-alone trial, where a single judge—not a jury—will decide the fate of the three accused officers.

The proceedings will determine not only whether the three officers are guilty or innocent of murder, but whether prosecutors’ extraordinary allegation—that Azario Major was struck by additional gunfire after he was already dead—can be proven in court.

Continue Reading

Bahamas News

CARICOM Targets Affordability as Bahamas, TCI Continue to Feel the Pinch  

Published

on

By Deandrea Hamilton

 

Cheaper shipping. Lower energy costs. Better access to healthcare. Stronger consumer protections.

Those are among the measures CARICOM Heads of Government believe could finally begin reducing the stubbornly high cost of living for millions of people across the Caribbean.

Meeting in Saint Lucia, regional leaders agreed that making life more affordable must become one of the Community’s highest priorities. Their emerging strategy includes reducing freight costs through a regional ferry service, accelerating renewable energy projects to lessen dependence on imported fuel, expanding regional healthcare partnerships, strengthening consumer protection, and encouraging governments to adopt successful cost-of-living measures already being implemented across the Caribbean.

“Our discussions over the past four days were guided by one central objective – ensuring that CARICOM delivers results that people can see and feel in their everyday lives,” CARICOM Chairman and Saint Lucia Prime Minister Philip J. Pierre said.

Few places may welcome that relief more than The Bahamas and the Turks and Caicos Islands.

Although inflation has moderated in both countries from the sharp increases experienced following the pandemic, the cost of living remains stubbornly high. Families continue to complain about grocery bills that stretch household budgets, rising housing costs, expensive electricity, healthcare expenses and fuel prices that remain among the highest in the region.

Governments have responded.

In The Bahamas, successive reductions in Value Added Tax on selected goods and other targeted tax measures have sought to ease pressure on consumers. In the Turks and Caicos Islands, the Government this weekend opens applications for its $500 Cost of Living Relief Programme, acknowledging that many households continue to struggle despite the country’s economic success.

Yet affordability remains elusive.

The contradiction is difficult to ignore.

The Turks and Caicos Islands continues to post one of the region’s strongest tourism-driven economies, with robust investment, record visitor spending and sustained construction activity. The Bahamas has also strengthened its economic position, earning improved sovereign credit ratings as tourism, government revenues and fiscal performance continue to recover.

Yet those encouraging economic indicators have not translated into noticeably lower household expenses.

The reason is largely structural.

Both The Bahamas and the Turks and Caicos Islands produce relatively little of what they consume. Food, fuel, medicines, vehicles, building materials and countless household essentials are imported. Both countries also record significant trade deficits, illustrating their dependence on overseas suppliers. Every increase in global shipping costs, fuel prices or supply chain disruptions is eventually reflected in supermarket prices, utility bills and the cost of everyday living.

That is why CARICOM’s agenda matters.

If regional leaders succeed in lowering freight costs through an inter-island ferry network, expanding renewable energy, improving regional cargo movement, strengthening consumer protections and making healthcare more accessible through cooperation, the benefits could extend far beyond government balance sheets.

For Bahamians and Turks and Caicos Islanders, success will not be measured by another tourism record or another credit rating upgrade. It will be measured at the supermarket checkout, on the monthly electricity bill, at the gas pump and in the simple ability to afford a better quality of life.

Continue Reading

FIND US ON FACEBOOK

TRENDING