The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

MINISTER of State for Investments, Khaalis Rolle, said yesterday that he is spearheading the move to implement the Small Business Act, telling Tribune Business the legislation would provide a modern framework to address many of the challenges faced by Bahamian small and medium-sized businesses.

Mr Rolle said: "One of our priorities is to get small businesses back on track. The environment for doing business in the Bahamas has been severely challenged over the past few years. We haven't seen the growth and development needed to get his economy back on track.

"We understand our obligation in that regard. One of the major initiatives that I am personally spearheading is the implementation of this Small Business Act that we worked, as a Chamber, closely with the previous government, on and it never made it to Parliament."

Mr Rolle added: "I see this as a baby of mine, and that's going to be one of major priorities going forward."

The minister said the Act will provide a modern framework for addressing many of the concerns that small businesses have, such as access to technical support and capital.

"It's second generation legislation that I think will give the support and encouragement needed for small business to really restart this economy,"he added.

Mr Rolle said that his ministry was working on a business plan that would be released in about two weeks time.

He said: "One of the very first things that I did when I took over this ministry was sit down with the key personnel and talk about where we needed to go. The only way you know where you are going is to have a road map, and that road map is a business plan for us. We are working feverishly on that and we will have that out in a week-and-a-half to two weeks."