The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

A Bahamian businessman said yesterday he had seen “slight growth” of 20 per cent in sales at his Prince Charles Drive company, while noting that business “is not like it used to be”.

Fred Rahming, proprietor of Builder’s Mart, said that while his business - which had been severely impacted by the controversial roadworks project - had enjoyed a slight rebound, sales levels were still not where they used to be.

Mr Rahming, who claimed his business has suffered losses amounting to hundreds of thousands of dollars, added that the rebound has been slow. Added to that, Rahming claims the revised Prince Charles Drive has created a new challenge for businesses.

“We gave up so much of our business and made so many sacrifices. I’ve seen a slight growth, about 20 per cent,but it’s nothing like it used to be. I guess it takes a little time,” said Mr Rahming.

He reiterated that businesses adversely impacted by the New Providence Road Improvement Project (NPRIP) needed a cash injection, rather than the tax, fee and bill breaks offered by the Government as compensation.

Mr Rahming, said: “The Government didn’t really reimburse anyone, they tried to give incentives. The loans that they offered were very small, so I guess people thought it was better than having nothing at all, so they took that to get their business started. It’s just like you’re starting all over from scratch. We haven’t seen the impact that was expected.”

He added: “The road is now posing another problem. People are doing 70-80 miles an hour on Prince Charles. A lady was killed right in front of my store just four weeks ago trying to cross the road.It’s very difficult for the pedestrian traffic. The roads are not properly marked, there are no markings for pedestrian traffic. There are major collisions every day on Prince Charles.”

The Government’s $15 million compensation programme for businesses impacted by the roadworks associated with the New Providence Road Improvement Project (NPRIP) began on December 10, with some 200 business applying for relief. The relief plan has been the subject of controversy, though, with the 50-strong Coconut Grove Business League (CGBL) warning that what is being offered is not enough to compensate companies for their losses.

As a result, they have indicated they are going back to the courts to seek redress. Some businesses have argued that given the present economic and fiscal realities the Bahamas finds itself in, the private sector should simply maximise the compensation offer and move on.

Barry Kemp, proprietor of A1 Lock & Key, said: “In the Market Street area, business is still not the way it used to be. I’m getting some customers but it’s not been the same since the road changed.”

Mr Kemp added that businesses were in need of a financial injection. “A number of persons in the business community of Market Street are dissatisfied. A lot of people are dissatisfied because the compensation isn’t really compensation. What businesses really need is financial compensation,” said Mr Kemp.

Sandy Schaefer, Robin Hood’s former principal, said that he while he understood why many firms wanted financial compensation, the fiscal realties must be noted.

Mr Schaefer, who blamed the roadworks for the demise of his second Robin Hood store on Prince Charles Drive, said he had applied for assistance under the Government’s compensation program.

“It was granted, and the Government has been extraordinarily supportive because they understand that opening these two businesses, you will  have 250-300 Bahamians employed almost immediately,” he said.

“ I think we all have to be realistic and realise that the Government was left broke, and the fact of the matter is that everyone could have had the best intentions in the world but if they don’t have it, they don’t have it.

“Any assistance they give is great. They are not in a position to give more than they can. I appreciate what those small businesses are saying because everyone needs cash; cash is king. It allows you to be entrepreneurial. If you don’t have cash to open the business, all the incentives don’t really have an impact because your doors aren’t open.”