The Tribune

The Small Business Development Centre (SBDC) teamed with BAIC officials to demystify the process by which Bahamian entrepreneurs can lease crown land for business purposes.

Debbie Strachan, the Bahamas Agricultural and Industrial Corporation’s (BAIC) senior deputy general manager, was the keynote speaker for the SBDC’s first Entrepreneurship Summer Success series which covered the process and regulations involved in accessing “every Bahamian’s inheritance”.

Bishop Gregory Collie, BAIC’s chairman, said: “We are happy to be partnering with the SBDC. As the executive director (Davinia Blair) mentioned, we recently signed a Memorandum of Understanding and we are both excited.

“My goal is to make sure that every square foot of land available in Solider Road and Gladstone Road is taken up. We want those areas to be populated. We want them to be occupied by businesspersons who are determined to get their share of the economic pie. We want you to get your share.”

Bishop Collie also assured SBDC clients and attendees that the application process would not take years. “I want to assure you that I have given BAIC the mandate that all applications should process within 60 days,” he added.

“Once you have everything in place, within 60 days I have given them the order to have everything processed and ready to provide you with an answer. Whether it is yay or nay, we do not want you to be hanging on for months and years.

“Some people have said that they have been waiting for years. That is unacceptable. We want to make sure that those documents are processed in the shortest period so that you can get your business going.”

Ms Blair urged attendees to pay attention to the opportunities available to better request and allocate investment funding.

“The reason why I need us to pay attention to the opportunities presented is that we currently have applications before us asking for $300,000 and $400,000. Seventy-five per cent of it is for land or a building,” said Ms Blair. “We have to find a way to use the resources that are offered to us to stretch to take your business further.

“It’s not that we are discouraging the purchasing of buildings in this programme, but we also must be realistic with the money. Therefore, each application is being looked at on a case-by-case basis. If you can take advantage of the opportunities that are here, then you can relocate the money into other areas of your business and watch it grow faster. That is our hope.”

The SBDC recently signed a memorandum of understanding (MOU) with BAIC to increase access to Crown Land for Bahamian entrepreneurs. They are also collaborating to provide business development and advisory services for local companies.

The MoU’s ultimate goals are to improve the environment for small businesses; increase direct financing into micro, small and medium-sized enterprises in The Bahamas; create and promote innovative programmes to support MSMEs; and foster a culture of entrepreneurship and innovation within marginalised groups.

BAIC has three industrial parks zoned for leasing to entrepreneurs and small businesses to start or expand their business. These include the Soldier Road Industrial Park, which accommodates land and buildings; the Gladstone Road Agricultural Park, which is for land leases, and the North Andros Industrial Park.

The SBDC is the product of a tripartite arrangement between the Government, through the Ministry of Finance, University of The Bahamas (UB) and the Bahamas Chamber of Commerce and Employer’s Confederation (BCCEC).