Small and medium-sized businesses in the Bahamas are estimated to be failing at a rate of five per week and that the business sector’s contribution to the gross domestic product (GDP) of the Bahamas has dropped.
One noted expert in the business sector feels that Bahamian businesses need to return to the Family Islands in order to reduce national debt and increase GDP. Mark A. Turnquest, of Mark A. Turnquest Consulting indicated that in order for growth in the Bahamian economy there will have to be a a reduction in borrowing and more focus on SME development.
