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‘New monster in the house’ on small business funding

The finding that 99 percent of Bahamian firms had no interest in seeking debt financing in COVID’s aftermath was yesterday branded “irrelevant” by a small business adviser, who warned: “We have a new monster in the house.”

Small businesses brace for 25% consumer spend drop

Bahamian small businesses were yesterday said to be bracing for up to a 25 percent drop-off in consumer demand compared to pre-COVID levels as inflation chips away at buying power.

Small businesses fear supply crisis more than COVID

Bahamian small businesses view the global supply chain crisis as a bigger threat than COVID-19 itself amid growing anxiety over Christmas deliveries, a sector advocate disclosed yesterday.

Mature small businesses in ‘50/50 survival toss-up’

A small business consultant says it is “a 50/50 toss up” as to whether many of his more “mature” small business clients can survive the Bahamian economy’s slow bounce back from COVID-19.

‘Great game changer’ for SME fund raising

Plans to modernise capital-raising by small businesses were yesterday branded “a great game changer” for Bahamian entrepreneurs that is “four to five years overdue”.

Small business survivors: 90% to keep doors open

Some 90 percent of small business survivors plan to "stay in business" fully after the recent COVID-19 easing sparked more optimism among entrepreneurs, a sector consultant revealed yesterday.

Gov't urged to 'double' $50m SME funding

The Government was yesterday urged to double the $250m it plans to invest in small businesses over the next five years by removing restrictions on foreign participation in these entities.

Small businesses say 85% are ‘one man bands’

Some 85 percent of a new small business advocacy group’s members have been reduced to “one-man bands” by COVID-19 and its lockdowns, its first proposed president revealed yesterday.

One hundred plan march for '242 business survival'

Permission is being sought for a "business survival march" to draw attention to the plight of entrepreneurs who fear their firms "might not last beyond September" with the present COVID restrictions. Mark A. Turnquest, the small business consultant

Budget's $55m for small firms 'too moderate'

The government was yesterday urged to almost double the small business financing provided in the 2020-2021 budget to $100m, a sector consultant arguing that the planned allocation was “too moderate”.Mark A Turnquest, pictured, of Mark A Turnquest Con

'Desperation' sparks $20m loan rethink

Growing “desperation” among his small business clients has prompted many of them into a rethink when it comes to applying for government assistance, a consultant has revealed. Mark A Turnquest, of Mark A Turnquest Consulting, told Tribune Business t

Lockdown extension fears: 30% of small businesses may go

Some 30 percent of small businesses will “automatically” close if the government extends the nationwide COVID-19 lockdown for another month, a consultant to the sector warned yesterday.

'Dinosaur practices' slammed by small business advocate

A small business advocate yesterday branded the continued reliance on guaranteed bank loans to finance the sector as “dinosaur practices”, as he urged entrepreneurs: “Think globally.”Mark A Turnquest, principal of Mark A Turnquest Consulting, told Tr

‘Ain’t going to sleep’ until small business legislation enacted

A small business consultant yesterday pledged that he “ain’t going to sleep” until the Government ends the decade-long wait for legislation that will govern help for the sector.

'Remove red tape' on foreign capital start-ups funding

The Bahamas has been urged to remove “the red tape” that prevents foreign investors financing local start-ups and entrepreneurs, a leading small business consultant warning it was stifling innovation.

Ninety per cent of small firmsto 'forego' new finance market

Ninety per cent of Bahamian small and medium-sized businesses will likely miss out on the financing opportunities offered by BISX’s proposed commercial paper market due to “indiscipline”, a leading consultant warned yesterday.

Family Island growth needed for 80,000 population shift

A leading small business consultant yesterday called for more incentives to foster Family Island development, telling Tribune Business that New Providence had “maxed out” and a population shift off at least 80,000 was needed.

Economic awakening from the ‘bottom up’

Bahamian policymakers have long focused on ‘top down’ economic strategies to improve tourism, financial services and construction for almost 40 years.

NIB exemption called for over roadworks

The Government was yesterday urged to exempt all businesses impacted by the New Providence Road Improvement Project from their 5.9 per cent share of National Insurance Board (NIB) contributions for a year, with some describing the proposed micro loan and BEC concessions as “meaningless”.

Roads compensation to only relieve '20-40% of pain'

The proposed New Providence Road Improvement Project compensation will relieve only “20-40 per cent” of the pain suffered by impacted businesses, a consultant expressing hope it might at least help some “get back in the game”.

'Light at tunnel's end'on Small Business Act

Appointing an eight-member private sector committee to drive the Small and Medium-Sized Enterprise Development Bill forward has created “some light at the end of the tunnel”, a well-known consultant yesterday revealing that 75 per cent of his clients in the sector were “struggling”.

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