The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

THE Eleuthera Chamber of Commerce is calling for the island to be included under the Family Island Development Encouragement Act as part of an eight-point “revitalization and commerce initiative”.

The Chamber president, Thomas Sands, yesterday said this was developed to present an “economic lifeline” for the island’s struggling business community.

“Our emphasis here is to not sit and complain and put our hands beneath our bottoms, but to offer what we feel are real and tangible solutions that could be put into place,” Mr Sands toldTribune Business.

“The Chamber has put together an initiative called the Eleuthera Revitilisation and Commerce Initiative.”

Under that initiative, the Chamber is calling for “the expansion of the scope of the Family Islands Development Encouragement Act or other relevant legislation so that any Bahamian-owned business operating in or to be established in Eleuthera can be afforded concessions on equipment imported into the Bahamas for capital improvements to those businesses”.

It is also seeking an extension of the period during which businesses in Eleuthera, with an annual turnover of under $500,000, are exempt from the payment of business license fees.

And the Chamber wants government land to be used for subdivisions, both residential and commercial, to expand local communities on proper with proper, marketable title.”

“Our focus is trying to present a lifeline to existing businesses,”Mr Sands said.

“In the Family Islands, close to 90 per cent of our economy is based on tourism, and the industry has to be serviced by small businesses of various types beyond the traditional hotel or vacation homes.

“There are services that range from supermarkets to Mom and Pop businesses that create the experience by not only servicing the local community but also the foreign community that’s also visiting.

“Over the years they have been greatly challenged, as elsewhere in the Bahamas, and also there is the increase in energy costs. The eight-point initiative focuses on how we can present a lifeline to those businesses, how we can give some relief to helping them upgrade their presentation, their environment, as well as upgrade in equipment so they comparable to the rest of the world.

“We also in the plan focus on how do we encourage domestic investment from other Bahamians back into the Family Islands. We are also focused on creating the availability of real estate, education and incentives.”

Mr Sands said tthe Eleuthera economy remains challenged. “We are just coming out of the summer,” he added. “The last two or three months have been very difficult.

“Eleuthera is really divided into kind of three economic areas. South Eleuthera is probably the hardest hit in this time. There has not been any movement over the last few months. I understand there are some pending projects but that’s probably where the highest unemployment rate is right now.”

Mr Sands added: “I believe we have to find ways where we are not only looking for non-Bahamians to come and develop, but encourage those who are here and have invested, those who potentially could be incentivised to move to the island and invest.

“Most of the islands are lacking amenities, the airlift is lacking, the price of fuel and shipping is expensive and then, if a community is not investing in itself, then it makes it less attractive.”

The Chamber’s plan also calls for the implementation of government-led training programmes for Bahamian businesses and entrepreneurs on how to access concessions available to locally-owned businesses, and the offering of business training seminars on Eleuthera.