NASSAU, BAHAMAS — Bahamas Chamber of Commerce and Employers Confederation Chairman Don Williams says the business community will be closely monitoring the government’s upcoming budget, looking for concrete action on easing the cost of doing business, supporting economic expansion and delivering on commitments outlined in the Speech from the Throne.
“The Speech from the Throne is eloquent. Now, we want to see what that looks like,” Williams said. “As a chamber, we’re going to be paying close attention to the budget because we now want to see what are the actionable steps that are going to be taken in respect to that speech.”
Williams said businesses are focused on outcomes rather than promises, particularly as they continue to grapple with higher operating costs and economic pressures.
“Action is what we’re after. Results is what we’re after,” he said.
He noted that issues including energy costs, fuel prices and broader global uncertainty continue to affect businesses, despite signs of improvement in some areas.
“Energy reform has been working out well because obviously we’re seeing the new grids go up. We’re starting to see certain bills go down in certain areas that have already gotten the setups,” Williams said. “But what is the timeline for that to be fully implemented so that the country at large can now see the impact? That’s what we’re looking for.”
Williams said the cost of living and cost of doing business remain closely linked, pointing to utilities, housing and infrastructure as critical areas.
“All those affect the cost of living in our country,” he said. “Right after that is housing. What are now going to be in place?”
The chamber chairman said businesses are also looking for greater collaboration with government and policies that support innovation, expansion and entrepreneurship.
“What we need to see is there’ll be a larger impact on what businesses can do in our country, whether it is innovation through technology,” Williams said. “Are systems going to be in place now where it’s easier for me to set my business online? Is it easier for me now to expand, not just locally here in Nassau, but for the Family Islands?”
Williams said while the chamber welcomed commitments to increase focus on the Family Islands, members want clearer plans for implementation.
“Hearing in the Speech from the Throne that there is going to be a focus on Family Islands, we applauded that effort,” he said. “But once again, we want to see what the plan is.”
He added: “Not just for Family Island expansion, but now how can we expand The Bahamas to a global market space?”
Williams said the chamber is also hoping for increased support for businesses through funding opportunities, education initiatives and continued engagement with policymakers, stressing that businesses remain central to economic growth.
“It is small businesses and businesses on the whole that literally drive and run the economy,” he said.
