Minister of Economic Affairs Michael Halkitis opened the two-day Emerge Grand Bahama Small Business Symposium last week, sharing the government’s willingness to partner with the public and private sectors to promote and develop small businesses.
Halkitis said that as November was declared National Micro, Small and Medium-Sized Enterprise Month, particular focus was placed on ingenuity, talent and vision of local entrepreneurs.
The symposium was hosted by the Grand Bahama Port Authority (GBPA) and its partners – the Grand Bahama Chamber of Commerce (GBCC), Access Accelerator Small Business Development Center (SBDC), Bahamas Development Bank and Kanoo.
“It was a pleasure to partner with the Grand Bahama Port Authority and its partners,” Halkitis said.
“It is through partnerships, particularly partnerships that reach across the public and private sectors, that we can bring our collective resources – intellectual as well as financial resources –– to bear as we seek ways to promote and to support the development of the small business sector that contributes so much to the economy collectively.
“The government is a very willing partner in these sorts of collaborations because we recognize the important role that small businesses play in the overall economic health of the country.”
Halkitis said it is hoped that suggestions from the symposium’s participants will enable the government to assist businesses more.
Held at Pelican Bay Resort, the conference featured more than a dozen presenters, sharing tips on a range of business strategies to help participants embrace the “new normal” of doing business.
Jewelry designer and owner of Baha Gala, Tenisha Carey, said a big challenge for many small businesses is shipping inter-island and overseas.
“One of the biggest issues is getting items shipped out of Grand Bahama,” she said.
“Our only option, at least affordable option, is through the Post Office. The problem with that though is, it takes two to six weeks for customers to receive their purchases.”
She noted that other courier services are expensive, and owners do not want to pass that cost on to their customers.
“So, we need to find an avenue that works and is cost-effective,” said Carey.
After hearing concerns from small business owners, GBCC president, James Carey, promised to work toward finding affordable solutions to the high cost of inter-island and international shipping.
“The bottom line will be supply and demand,” noted Carey.
“In her presentation on supply chains and shipping, Glenette Fowler (president and CEO FOWLCO), although referring to the international aspect, gave a wonderful example that I believe small businesses can implement.
“She advised owners to come together, pool their items, share one container which in turn will lower the cost for each individual.”
Additionally, Fowler suggested that the group of owners can also approach the shippers on lowering the cost, depending on the frequency of shipping.
Carey said he intends to meet with Fowler to discuss ways in which inter-island shipping may be affordable for small business owners but plans to meet with owners to learn more about their shipping challenges and other concerns.
More than two dozen small business operators were afforded the opportunity to display their wares over the two-day conference.
