The Bahamas is no longer straggling behind in the world of e-commerce, according to business owners. Bahamians are using the Internet daily, and are increasingly utilizing services found there for efficiency.
Now the fisherman, retailer or service-oriented entrepreneur can visit www.bahamasdevelopmentbank.com to find out how to obtain funds for expanding their business or starting a new one. They can download an on-line application to speed up the process of obtaining a loan.
“The Bahamas Development Bank (BDB) is most pleased to be able to allow persons from wherever to be able to access funding via an on-line application form. This application would then be transferred to the respective Manager and a response on the feasibility of the project would be given within 48 hours,” said BDB Managing Director George Rodgers.
He said the website will go a long way in facilitating BDB’s efforts to finance economically viable small and medium enterprises in a suitable manner and to foster economic expansion and diversification throughout the Bahamas.
The website was launched by the BDB Thursday.
“As the BDB is a major Government entity established to provide funding for economically viable projects, it is necessary to improve our accessibility to all through this medium, taking the plunge to join the rest of the world into the twenty first century and on the cutting edge of technology,” Mr. Rodgers said.
The website provides information on the history and purpose of the Bank, along with profiles and photographs of the board of directors, past annual reports, assets for sale, and newsletters and current event updates.
There is a section where the most frequently
ﾠﾠasked questions are posted and answered.
The Island and Sector profiles link gives a synopsis on most of the major family islands with advice on some of the types of projects best suited to each island.
“There is a grievance cell where customers are invited to tell us of their concerns or pat us on the back for bad or good service as the case may be,” said Mr. Rodgers.
A surfer will click on the internal auditor icon in order to make their comments. They will be directed to an e-mail icon, which will reach the desk of internal auditor Gidget Turnquest.
Following a demonstration of the site, the reporter found it user friendly and easy to navigate.
Christine Ingraham of Ingraham Taxi said if she could do it all over again, she would certainly choose BDB because of the friendly personnel and the short amount of time in which she received assistance.
“I felt someone was on my side,” said Renaldo Butler of the Backhoe People.
Zebedee Rolle, a government worker for the Road Traffic Department, got an idea to aid the sanitation problem that greatly plagued South Andros.
Mr. Rolle didn’t hasten to commend the BDB for “a major rolle in which they played in his establishment.
“Anybody can start a business…enterprising entrepreneurs start new businesses every day. About 40% of all new businesses fail in the first year and by the fifth year, only 20% of new business start-ups are still in business [US department of commerce]. Therefore, the problem is not starting a business. The problem is keeping the business going, and keep it going successfully,” Don Major, manager of business advisory services said.
