NASSAU, BAHAMAS — The government must establish a national plan for the country’s small and medium-sized business sector, according to a well-known small business consultant.
Mark Turnquest, president of the 242 Small Business Association and Resource Centre, told Eyewitness News that with the COVID-19 pandemic having severely impacted the local economy and particularly the tourism sector, many small and medium-sized businesses were facing a tough battle for their existence.
“The tourism market has taken a tremendous hit and also a lot of small businesses survive on people who have discretionary income. It’s rough right now for a lot of businesses and small and medium-sized businesses are no different,” said Turnquest.
“From a policy perspective, I think that the government must bring the resources together to establish a national development plan for small businesses, particularly the development of the small business act. There is no national plan, as far as the small business sector is concerned. The government has to get focused on that.”
