The Small Business Association of the Bahamas, a new business lobby and support group, officially launched itself into the public domain last week at a press conference held at the Sheraton Grand Hotel on Paradise Island.
Addressing the press corps and other invited guests, W. Johnny Outten, president of the new Association explained that a collective body representing the interests of small businesses was "long overdue".
"Given the importance of the small business sector to the current level of economic development and the future growth and deepening of our economy, it is most critical that we not only create a small business association – but that we develop a dynamic and vibrant organization that can support and uplift its members, while helping to shape and direct the very direction of our economy and our country", noted Outten.
Outten stated further that while the lobbying and advocacy function of the Association is and will remain an essential element of its mandate, he feels that there are other important reasons why there is pressing need for a small business association here in the Bahamas.
οΎ "Small businesses often do not have the same advantages as do big businesses – especially in a small country like the Bahamas. Thus, we feel that in certain areas, such as in insurance, marketing, bulk purchasing, access to capital, and so on – if we come together as a group and seek group arrangements and group facilities, our entire membership can benefit through greater reach and lower costs of doing business. And this would certainly make small businesses more competitive with their larger counterparts".
"One key example of the type of benefit we hope to provide is in access to the internet For many small businesses, setting up an independent website is too costly. We will very shortly create our own web presence and allow our members to set up their web sites through our facility. Thus, even the smallest Bahamian home-based business can access the entire country and the entire world!!. It is these kinds of benefits that our members will readily see."
The Association, which ratified its Constitution in July of this year, currently has 21 charter members. John-Michael Clarke, Vice President of the Association, explained the target recruitment level for the first year is 300 members. "By year three, if we do our work, we can easily see a membership close to 2000", noted Clarke.
Clarke explained that the Association has developed and documented a comprehensive business strategy and annual work plan. He noted that the organization intends in every respect to resemble a well-run corporate entity from the perspective of planning, management and accountability. "We put in a lot of work into developing a multi-year strategic plan. We will have a full-time office presence with staff dedicated to implementing and overseeing our plans and activities.", said Clarke.
The Small Business Association of the Bahamas defines small businesses as all domestic businesses with a staff compliment of 50 persons or under and a gross turnover of under $5 million.
The Association invites all small businesses to apply for membership of the Association. Persons wishing to learn more about the organization can call the Association's office at 328-6514 or by email at info@smallbusinessbahamas.com.
