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Chamber advocates 'dual' VAT system

The Bahamas Chamber of Commerce and Employers Confederation (BCCEC) yesterday advocated that the Government implement a ‘dual taxation’ system via Value-Added Tax’s (VAT) introduction, with “private individuals” continuing to pay full customs duties on their imports.

Crime 'stifling' entrepreneurship

THE Bahamas Chamber of Commerce and Employers Confederation’s (BCCEC) chairman yesterday said the private sector continued to be concerned over high crime levels, noting that this was “stifling” entrepreneurship through increased security costs.

Chamber chairman in Jobs Bank call

The Bahamas Chamber of Commerce and Employers Confederation’s (BCCEC) chairman has called for the creation of a ‘Jobs Bank’ accessible to all Bahamians, arguing that not enough information on employment opportunities was being made available.

Business calls for 20-day work permit decisions

Private sector leaders yesterday urged the Government to “commit” to making decisions on work permit applications within 20 days, as one of their predecessors warned two Cabinet Ministers to “be very, very careful” about the signals being sent to investors.

Chamber chief backs oil move

The Bahamas Chamber of Commerce and Employers Confederation’s (BCCEC) chairman yesterday said failing to permit exploratory oil drilling risked “leaving money on the table at a time when the country can least afford to do so”.

'Imagine the jobs if $600k electric bill slashed 25%'

The Bahamas Electricity Corporation (BEC) “crisis” is driving entrepreneurs out of business, a leading private sector official warned yesterday, adding that the nationwide electricity bill for his company totalled $600,000 per annum.

Chamber to be 'more involved' on arbitration plans

The Bahamas Chamber of Commerce (BCCEC) is planning to emulate its Panamanian counterpart by becoming “more involved” in developing this nation’s Arbitration Centre, its chairman yesterday disclosing that the two bodies had “agreed in principle” on a Business Development Alliance.

‘Devastating effect’ from 28% credit card withholding

The Bahamas Chamber of Commerce and Employers Confederation’s (BCCEC) chairman yesterday warned that new US laws implementing a potential ‘28 per cent withholding tax’ on credit card transactions could have a “devastating impact” on the private sector, as one business told Tribune Business it had seen some $20,000 in payments held back.

Mentoring initiative to combat 70% small business fail rate

The Bahamas Chamber of Commerce and Employers Confederation (BCCEC) yesterday said its Small Business Mentorship Programme aimed to save jobs and improve “the chance of success” for entrepreneurs in a sector that has a 70 per cent ‘failure rate’.

Chamber chair: Make tax reform reality by 2013 Q4

The Bahamas must make tax reform happen as early as the 2013 fourth quarter, the Chamber of Commerce’s (BCCEC) chairman urging the Government to adopt an “aggressive approach” to managing the economy.

Bahamas ‘20 years behind’ Canada on Payment systems

Private sector leaders yesterday hailed the Central Bank’s planned 2013 electronic payments initiatives as “long overdue”, adding that the Bahamian commercial banking system was 20 years behind Canada in the adoption of such technology.

Downgrade undermines ‘blue chip’ financial centre signal

THE Bahamas cannot send the message that it is a “blue chip” financial services centre if Wall Street credit rating agencies are suggesting it cannot manage its own fiscal affairs, the Bahamas Chamber of Commerce and Employers Confederation (BCCEC) chairman believes.

Attorney 'stranglehold' blocks land development

Land development in the Bahamas is being impeded by an attorney-imposed “stranglehold”, the Bahamas Chamber of Commerce and Employers Confederation’s (BCCEC) chairman yesterday adding his voice to those calling for a formal property title system.

Panama trade mission 'tremendous catalyst' for Freeport growth

An upcoming January 2013 trade mission to Panama could serve as “a tremendous catalyst” for Freeport’s ambitions to become a logistics/distribution hub, a private sector leader yesterday saying representatives from 40-50 firms were likely to travel to Central America.

Bosses aim to inspire future generations

Young professionals who have been dreaming about leaving their 9am to 5pm to become their own boss will get some candid advice from three of the country’s seasoned business owners during a panel presentation on Thursday, October 4. The event is free to the public and takes place at The Nassau Yacht Club from 6:30pm.

‘Chickens come home to roost’ over S&P action

The Bahamas Chamber of Commerce and Employers Confederation’s (BCCEC) chairman said yesterday that the private sector was concerned that any further downgrade in the Bahamas’ economic outlook could potentially make this jurisdiction a less attractive place to do business.

Chamber chief: 'Bahamians first, but not at all costs'

WHILE "unequivocally" backing the Government's 'Bahamian First' policy, the Bahamas Chamber of Commerce and Employers Confederation's (BCCEC) chairman yesterday said it had to avoid a work permit regime that "discourages industry or investment in the Bahamas".

Panama trade mission can be 'inspiration' for Freeport

THE Bahamas Chamber of Commerce and Employers Confederation's (BCCEC) chairman is hoping its upcoming trade mission to Panama will "inspire" Bahamian entrepreneurs to fully realise Freeport's transshipment/distribution hub potential.

Bahamian firms urged to exploit US funding

SMALL business loans represented 87 per cent of the US Export-Import Bank's $33 billion credit portfolio last year, a senior US embassy official said yesterday, urging Bahamian companies to take advantage of its programmes to access additional capital for their enterprises.

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