Bahamians are not taking advantage of business opportunities because they depend on the government to spoon-feed them, said a leading business activist.
Marlon Johnson, Corporate Secretary of The Small Business Association, agreed that government should play a key role in helping to create economic opportunities, but added that Bahamians also needed to take more initiative.
“We beat up the government a lot, but the reality is that we as Bahamian business owners have not done our part to take of advantage of opportunities,” said Mr Johnson. One of the problems is that Bahamians are “generally not planners,” he said. Hence, people looking to capitalise their start-ups shortchange themselves.
Most lending agencies require “good” business plans, but Mr Johnson pointed out that most people do not put enough time and effort into creating a satisfactory business plan.
“We as Bahamian businesses have to realise that if we want to get into business it takes a tremendous amount of work, and we have to be prepared to do the things necessary to make our business ideas work,” said Mr Johnson.
Further, he said that risk-taking is also important. To supplement any assistance from the government, Mr Johnson said Bahamians have to be willing to go out on a limb and make some investments that would help to enhance the chances of running a successful business.
Over the last few years more resources have become available to the small and medium-sized business sectors, including BahamasB2B.com Small Business Center and the Domestic Investments Board, which is still “a work in progress,” according to Mr Johnson.
“The aim of [the Board] really is to make sure that at the end of the day Bahamians can take advantage of economic opportunities, and do so in an efficient manner.
“And this proves that the government is working on their behalf to encourage them, as opposed to stifling them,” Mr Johnson said. But he was quick to add that the business community should bear its share of the responsibility as well.
He said business people must “encourage the government to continue to streamline the bureaucracy to get people into business.”
By: BARRY WILLIAMS, The Nassau Guardian
