The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

WITH the recent launch of the Government's Jump-Start programme expected to foster entrepeunership, the Bahamas Chamber of Commerce and Employer's Confederation's (BCCEC) chairman has expressed concern that approved applicants lack the technical assistance necessary to improve their success prospects.

The Government has allocated $1.5 million to Jump-Start for this fiscal year. The programme is open to individuals over 30, and provides a maximum $7,500 per person grant for budding entrepreneurs to start their own businesses.

Seventy-two persons have been approved for the grant thus far. Forty-seven are from New Providence and 25 from Grand Bahama. They were funded to a total of $530,000, representing one third of the $1.5 million. Prime Minister Ingraham said at the launch of the program last week that eventually 200 applicants will be approved to participate.

But Winston Rolle, the BCCEC chairman, told Tribune Business: "My concern is I had sent a communication to the Government, indicating that I felt that in addition to the Government providing financing, some degree of technical assistance should be provided because we don't want to assume that everyone who is going to qualify for this financing knows how to structure and run a business. We would have provided some sort of technical assistance that would hopefully heighten the degree of success."

He added: "We had received a letter from the Ministry of Finance indicating that there was going to be a committee to oversee the various applications, to vet them and see where they would have wanted to channel the funding.

" I know the Chamber was supposed to be a part of that, but to date we have not had any meetings. I hope there was a clear process for selecting the candidates. I'm not saying there isn't, but let's just hope there is a clear process."

According to Mr Ingraham, applications have been approved to provide funding for tourism-related businesses engaged in a wide variety of activities: manufacturers of straw goods - handbags, hats, floor mats, place mats; operators of sports fishing tours; rentals of fishing gear and of yachts; producers of sea-shell craft; manufacturers of jewelry and other accessories; producers of fruit juices and operators of fruit and cocktail juice stands; persons engaged in the sale of souvenirs; the rental of snorkel gear and beach towels; and musicians engaged at resorts and other places of entertainment.