The Tribune

EDITOR, The Tribune.

There is, and has been a situation developing in this country that I consider very unsettling. You would think that I would be ecstatic about the number of businesses (of whatever category) that have been established in the Bahamas over the years. I am not. Concomitant with these openings of some, there are the inevitable closings of others. Certainly, the government would be satisfied (I suspect) with the growth of (seeming) entrepreneurship displayed in this country in the recent past and simultaneously disappointed with the many closings.

However, in my humble opinion, if a man resorted (or resorts) to illegitimate means in order to establish (and continue) himself in business, then that is not true entrepreneurship. And (I suspect) that many of these businesses in the Bahamas were established and continue to exist because of illegitimate means.

If one were to ask other legitimate businessmen who operate in the same type business as the illegitimate businessmen, then they would say that this type of activity provides them with grossly unfair competition. And sometimes they have to “close up shop”.

Legitimate, fair competition is a part of being in business. But unfair competition is a huge discouragement to the fair businessmen, if something is not done by the government. And so, I would like to suggest to the government, and the relevant enforcement arm of the Police Force, that if it is suspected or known that certain individuals are engaging in certain financial activities which cannot be satisfactorily explained, then an investigation should be launched, reports submitted, and arrests made where necessary.

Some of the more common practices of men involved in establishing (or continuing in) illegitimate businesses would be:

(1) Using proceeds from the illegal drug trade

(2) Using embezzlement funds from their workplace(s)

(3) Using pilferage funds from their workplace(s)

(4) Failure to submit veracious customs documents

(5) Failure to discharge their business licence fees obligations

(6) Failure to remit National Insurance payments

(7) Failure to settle real property taxes liabilities

(8) Failure to offer (hazardous work) insurances

(9) Failure to secure required permits.

I am sure that there are more, but these are some of the more common activities practised by our unscrupulous “entrepreneurs”.

And so, it is my humble opinion that the government should move swiftly to correct this imbalance in entrepreneurial operation so that true competition would surface and the true definition of the word “entrepreneur” would reign ubiquitously throughout the Bahamas.

MARVIN G LIGHTBOURN

Nassau,

September 16, 2104.