The Minister of Trade and Industry Leslie Miller has made another fervent appeal for the public to patronize Bahamian businesspersons involved in light industries, as he once again pushed the Buy Bahamian message.
There are just over 500 companies registered under the Industrial Encouragement Act.
Since May 2002, 9,602 business licenses have been granted, Minister Miller revealed. Also, revenue from business licenses has increased by more than half a million dollars this year over the previous year to $28.5 million.
“This is a very serious matter as these entrepreneurs have invested millions of dollars with some even mortgaging homes to make a go at these businesses,” he explained.
Over the last 12 months in particular officials from the Ministry of Trade and Industry have been meeting with the manufacturers who consistently complained about the lack of adequate support from the government, the hotel sector and the general public.
“All that is required is more patronage from Bahamians, as increased sales will enable them to purchase in greater volumes thereby reducing their selling cost,” said Mr. Miller.
“I want to ask every Bahamian to give these local entrepreneurs a fair chance and to buy Bahamian.
“This will create opportunities for other Bahamians by creating more jobs in our economy.”
International B2B Marketplace: One way for small businesses to purchase in greater volumes, increase their geographic market and create additional opportunities is by participating in the Bahamas B2B Trade Portal
According to the minister, early in the new year, his ministry will be pursuing aggressive efforts to assist in the protection of this sector.
Mr. Miller was the president of the Bahamas Light Industries Development Council and said that the issue is dear to him because of his struggles in the trenches.
Earlier this year as he addressed the opening of a ready-mix concrete plant, Mr. Miller also expressed strong disapproval of his own government’s lack of support of local businessman.
“No government, including the present government of which I am a part, has ever given full assistance and patronage to locally-made products,” he said at the time.
Bahamian consumers have long had a preference for foreign goods, opting to import those items rather than support locally created products because of quality. Even in the native Downtown Straw and Craft Market, some vendors prefer to sell imported wares.
One suggestion has been that the government could help to alleviate this problem by more effectively marketing locally produced commodities.
Mr Miller has pledged to encourage food stores and hotels to support local markets – a move that could drive down the inflated prices of goods and services in those two industries.
Source: The Bahama Journal
