The Tribune

A Cabinet minister yesterday hailed a Freeport retail plaza’s expansion as an example of Bahamians taking ownership of their own economy.

Senator Kwasi Thompson, minister of state for Grand Bahama, speaking at the opening of the new KMW Plaza said its owners provided motivation and hope for all Bahamians on the island.

“The work of these entrepreneurs, like Mr Jones and Mr McCartney, is in alignment with the government’s commitment to small business development and entrepreneurial empowerment,” said Mr Thompson.

“And this is what we like to see, Bahamians owning their country and empowering other Bahamians to do the same. We’ve set out to create an environment especially conducive to the creation and expansion of small and medium-sized businesses, which are essential to the communities.

“These are the kinds of businesses that should really be our focus, because they are the strength and the backbone of our economy.”

KMW Plaza houses businesses such as Mulligans Meats and Spices, two beauty supply stores, a church, and a section of Terreve College. The plaza’s expansion has enabled other businesses to open.

Mr Thompson said the creation of the Grand Bahama Small Business Development Centre (SBDC) showed the government’s commitment to the sector, with millions of dollars being made available to help finance start-ups.

He added that KMW Plaza’s expansion will help inspire all those small entrepreneurs who believe they can make a difference in Grand Bahama. “It is truly pleasing to see Grand Bahamians pouring into the economy that they want to see thrive,” said Mr Thompson.

“It’s always an exciting and proud moment, to not only witness but to share in local businesses achieving major milestones. This plaza is certainly a testament to the growing confidence with the owners having injected some $600,000 into the economy through this renovation and expansion project over the past several years.

“I wish to extend commendation to you who originally started the operation of KMW Batteries and Tires in 2004, and later purchased this facility as a dilapidated building, making steady progress in the renovation work. You have certainly come a long way and for that I applaud you.”

Mr Thompson said that in addition to the expansion carried out by KMW Battery and Tires, the government has also seen an increase in confidence among both foreign and Bahamian investors.

He cited the start-up or expansion of businesses such as Pirate’s Cove, Goombay Land Skating Ring, FOWLCO Logistics, Sawyer’s Super market, Home Fabrics, the expansion of Omni Financial, expansion of Pharma Chem, Elnet Maritime, Pelican Bay and other projects coming on stream.

“We would like to see more such businesses in Grand Bahama expanding, which continues to be proof of their confidence and hope for the Grand Bahamian economy,” said Mr Thompson.