NASSAU, BAHAMAS — With the traditionally busy holiday shopping season quickly approaching, many small businesses are optimistic that business will continue to improve, with a local small business consultant noting that shipping issues remain a concern.
Mark A Turnquest, president of the 242 Small Business Association and Resource Centre and a small business consultant, said: “Basically the small business owners who I interact with, those in the association and my clients feel optimistic about the holiday rush especially that Black Friday rush coming up. They feel good now. The only challenge has been as it relates to shipping and its cost.”
Turnquest added: “For the past few months there have been have been challenges with getting inventory in quickly. There have been some delays but it was not so significant enough as to hamper their business. It’s not a major problem especially with getting electronics and clothing for retail. I think the problem is really going to manifest itself next year as there are going to be increases in shipping costs among other factors. That’s why a lot of small businesses making purchases before Christmas to take advantage of current prices. There is a lot of optimism that we can get through this Christmas ok.”
According to Turnquest, the SBARC is expected to meet with Minister of Economic Affairs Michael Halkitis next week as the association continues to push for plans to push for the enactment of a Small Business Act and a National Development Plan for SMEs.