“Whatever policies the new government implements, keep small businesses in mind”
NASSAU, BAHAMAS — A local small business association is seeking to meet with the new administration by mid-November to push for small business legislation and a development plan for micro, small and medium-sized businesses, among other initiatives.
Mark A Turnquest, a small business consultant and president of the 242 Small Business Association and Resource Centre (SBARC), said yesterday said that the SBARC hopes to meet with the new administration by November 15.
Turnquest noted that while small business legislation has been developed or promised in the past, the SBARC is demanding that the legislation be enacted.
“This time around, we demand legislation. We want legislation. We want a definitive plan, a strategic national development plan,” said Turnquest.
“We are going to speak to government to make sure there is an agreement no later than next year, 2022.”
Keith Dean, deputy chairman of the SBARC, said the entity is seeking to advance the creation of a micro, small and medium-sized enterprises national development plan; legislation and execution of the SME Act; greater participation of MSMEs as it relates to creating policies to govern the sector; the relaxation of regulations and constraints to obtaining international funding for MSMEs; to ensure that MSMEs are properly registered to do businesses; and to ensure that the SBARC is recognized as the united voice for Bahamian MSMEs.
According to Dean, the SBARC is looking to register at least 100 new MSMEs and 10 strategic partners by the end of its first year.
David Williams, an SBARC director and operator of Sunshine Deli, noted yesterday that restrictions implemented by the Minnis administration during the pandemic had resulted in the closure of the business.
Williams said: “I believe the policies the Minnis administration implemented affected my business. We closed in March 2020 with the understanding of being closed for possibly two weeks, then it was extended and extended.
“We had thousands of dollars in inventory discarded. We opened back up again only for a short time.
“COVID-19 affected businesses but I believe it was the policies that really did the damage. There is a better way they could have done it. Whatever policies the new government implements, keep small businesses in mind.”
Williams, who has been at home for roughly two years, said he hopes to reopen the business before the year is out.
Simone Bowe, another SBARC director, responsible for human resources, said: “Human resources is a critical aspect of our country’s development. People development, performance and how people are growing and excelling at work [are] important.
“This is important for small and medium enterprises. It is one of the areas that is often neglected because we often focus on the technical aspects of our business. You have to focus on people as well and the need for people to excel and make your business successful.”
