The Tribune

A second group of 15 potential entrepreneurs last week graduated from the Grand Bahama Micro and Small Business Economic, Empowerment and Incentive Programme.

The initiative is likely to be extended to a third, and fourth, group as the minister of state for Grand Bahama, Kwasi Thompson, said: "Small businesses will be a big part of the economic turnaround for Grand Bahama."

Apart from the 15 new self-starter businesses, eight existing companies also received financial grants and certification to help their already-established enterprises. The businesses represented a cross-section of industries, including restaurants; pastry and bakeries; nails and cosmetics; bone fishing; sign making; perfume making and landscaping.

"I want to encourage you to take advantage of the opportunities that are coming," Mr Thompson told the 15 latest graduates.

He outlined some of the potential developments in the pipeline for Grand Bahama, including the sale and re-opening of the Grand Lucayan resort; a re-start of the former Ginn project in West End; the Oban Energies refinery; two small projects in West End - the Sea Wood Fishing Village and the Blue Marlin Cove marina; and two light manufacturing companies. "I don't outline these projects or bring them up to suggest that Grand Bahama has turned any corner, or that Grand Bahama is doing well, but I bring them up and talk about them because we all need to know that there are positive things happening in Grand Bahama," added Mr Thompson.

"We also need to know what opportunities there are for us here in Grand Bahama. Think out of the box. Don't limit yourself to the old ways of doing business. The good thing is that we have the access where your entire market does not have to be only people in Freeport, Grand Bahama, or even just in the Bahamas. The entire world now can become your market."

Mr Thompson said the time has come for Bahamians to begin to think globally, and assess how to export their talents and their goods and services.

"You have the talent, you have the skills to be able to compete with anyone, anywhere in the world," Mr Thompson told the graduates. "In fact, you are the best in the world at what you do because nobody could be Bahamian better than you, and nobody can produce Bahamian better than you."

Michael Pintard, minister of youth, sports and culture, added: "You have to be prepared to wake up early, pray up, show up, stay late if necessary, in order to build your empire. Not everyone is an entrepreneur, so you are a unique group among hundreds of thousands in the Bahamas.

"But if our economy in Grand Bahama is to recover, and if the Bahamas, is to grow at the rate which we believe it has the potential to grow, much of that success is going to come as a result of the efforts by people such as yourselves. So we are happy to be working in conjunction with you."

Mr Pintard said the Government and the private sector are discussing how businesses can obtain the workforces necessary to sustain them. He added that himself and Mr Thompson had decided to focus on businesses that "have an opportunity to make it with the present population size we have" when structuring the incentive programme.

"So, you are uniquely positioned because although it would benefit you to have in excess of thousands more consumers in which to market your products and services, you have the capacity to do a volume of business that would be beneficial to you, your family and this community right now," Mr Pintard said. "We wanted to identify businesses that would be in the creative arts, businesses that would affect tourism, or that would deal with personal consumption…and all of you represent these kinds of businesses."