NASSAU, BAHAMAS — A long-awaited push to bring stability and consistency to The Bahamas’ small business sector will take center stage this Saturday as stakeholders gather for a symposium aimed at shaping the country’s first Small Business Act.
The event, set for November 15 at the Cancer Society of The Bahamas, is part of a broader effort to end decades of shifting policies that change with every new administration.
According to SME consultant and 242 Small Business Association and Resource Centre (SBARC) founder 
Mark A Turnquest, the absence of a legislated, permanent framework has left micro, small, and medium-sized enterprises navigating an unpredictable environment. “Every five years, government changes, policy changes, boards change, programmes change. It’s never consistent,” he said, noting that The Bahamas remains one of the few developing countries without a formal Small Business Act.
Saturday’s symposium will serve as the culminating step in a nationwide research effort Turnquest has been conducting since 2024. Attendees will complete survey forms that ask detailed questions on how micro, small, and medium-sized businesses should be defined, structured, and supported in law. That data, combined with consultations with banks and industry stakeholders, will form the basis of a report scheduled for presentation to the government in May 2025.
Turnquest stressed that while he has drafted a framework, the final document will reflect the collective voice of the sector. “It’s not going to be only my input,” he said. “It’s going to be a collaboration, a holistic approach.” He said this national consensus is essential because long-standing confusion over business classifications — with all enterprises simply being labeled “business” — has weakened efforts to build targeted policies and programmes.
He also noted that the symposium marks the final major public event of his career — 17 years of which he spent advocating for the establishment of a Small Business Act. “I’m stepping back now. I’m going to retire, but hopefully we will get the small business legislation,” said Turnquest.
He added that SBARC has already developed a transition plan, with a new president, chairperson, and leadership team positioned to continue the advocacy work after he steps aside. The goal, he said, is to ensure that small businesses finally gain the consistency, national funding structure, and advocacy platform they have lacked for decades. “We have to be at the table,” he said. “When the government makes policy changes that affect our ecosystem, we need to be there.”
Turnquest is urging industry stakeholders and entrepreneurs across the country to attend Saturday’s symposium, calling it a crucial opportunity to shape the legislation that will define the future of small business development in The Bahamas.
