I know so many persons that want to start businesses in this country that it ain't funny - me included. There is so much red tape and long waiting periods that most just give up on their dreams. The black crab syndrome is alive and well in the bahamas, pity, we could be so much more modern and well of as a country.

But the funny thing is they allow bootleggers and illegal businesses to florish on every corner - so going into big business seems like a losing proposition when bootleggers just undercut your prices and don't even own a real store.


Based on this comment, I am curious as to the process of starting one's own business,
(and the frustrations associated with it).

What has been your experience? Did the business venture work? If not, are you hopeful about starting over?
Open to anyone who would like to comment.

While I do not own a business myself, I do know two friends of mine that I went to high school with that have both started their own businesses. While I must admit that the Bahamas is a country based in nepotism so they might have a friend that "worked something out" for them. Since I am only 21 I cannot imagine it being that difficult. I am also curious to see what others have to say.

Based on this comment, I am curious as to the process of starting one's own business,
(and the frustrations associated with it).

What has been your experience? Did the business venture work? If not, are you hopeful about starting over?
Open to anyone who would like to comment.

Bahmia, Starting business I so easy until it is almost effortless. I have a few. One of the main problems is that as a people we are lazy and lack creativity and we have governments that do not care about empowerment of bahamians. Our system is not set up to encourage Bahamian Business it is set up to produce bahamian workers. You are meant to be labour. The local whites and foreigners are supposed to be the owners. There is only red tape and blocking when your business will undercut some powerful person's business. Like the white nights some rich MP or others.
But with a little creativity you can defy that curse. I have invested in young bahamians who wanted to start businesses and I am in the business of helping bahamians become business owners. And its not amway or quick star, its real. First you need to understand how global business works. If you want to know how then email me lincolnbain@hotmail.com.
About the black crabs: they are real. but with right thinking and good business practice they can't stop you. and eventually they will be following you.

Now I have been in talks with foreign business partners who have told me about proposed investment in the bahamas that they dropped because of corrupt bahamian officials who constantly insist on bribes. That to is real.

Bootlegers are good for the economy and for the poor who can't afford to pay $25-$30 bucks for a DVD. They keep the cost of living down. This is kinda Sam Walton's (wal-mart) philosophy If you could buy rice for 10 cents and a dvd for a buck then your $150 a week salary would be a fortune.
About the illegal businesses e.g numbers. They pay off the officials. So any Gov that allows numbers while its illegal to operate is a corrupt government and has to go.
But if you want real success think outside the box. Why compete for the few Bahamian Buyers. There are 6 bllion buyers out there. Go where the black crabs can't reach you. Crabs can't fly. Get your feet off the ground and soar. If you need help email me.

Basically it is much easier to set up and run a business here than say in the US, though it gets more complicated when you have to deal with importing and customs.

Bahmia, Starting business I so easy until it is almost effortless.

You are meant to be labour. The local whites and foreigners are supposed to be the owners. There is only red tape and blocking when your business will undercut some powerful person's business. Like the white nights some rich MP or others.

Thank you for generous offer of assistance.
Details on actually starting a business would be appreciated. Once the idea is hatched, all one has to do is register it with the gov't, business registrar, etc., right? Where does all of this red tape/blocking come about? Originally, I thought that most of the problems came about when begging for funding.

I think that competition, rather than the actual bootlegging is what keeps the prices down, which is much-welcomed in the Bahamian society. The another main problem is people 'stealing' the ideas of others. I've learned to keep tight-lipped about certain projects.

I agree that the overall plan is to keep Bahamians as labourers, white and/or blue collared. When you reach middle-management, for alot of people, that;s it, unless they start a business of their own. Thankfully, the internet has the ability to bring the customers to you. Because when FTAA comes into effect and Cuba opens up, Bahamians will have to hustle like never before. The time to prepare is now!

Basically it is much easier to set up and run a business here than say in the US, though it gets more complicated when you have to deal with importing and customs.


Ahhhhh, you brought up an very important part of the puzzle. Since there's no business income tax, (even though you pay business licensing fees), and few regulation laws, managing a store shouldn't be much of an issue, depending on the type of business. However, getting products though customs/importing, it seems as if people with petty shops have a better time than established firms.

Ahhhhh, you brought up an very important part of the puzzle. Since there's no business income tax, (even though you pay business licensing fees), and few regulation laws, managing a store shouldn't be much of an issue, depending on the type of business. However, getting products though customs/importing, it seems as if people with petty shops have a better time than established firms.


though I dont own a store, i know alot of shop owners, business owners with staff, and from thier eveperiences, the hardest thing in running any business in the bahamas, is finding good staff. next to that when it comes to staff, keeping up with National Insurance and worrying about being sued for firing worthless staff is another issue.

Rory

though I dont own a store, i know alot of shop owners, business owners with staff, and from thier eveperiences, the hardest thing in running any business in the bahamas, is finding good staff. next to that when it comes to staff, keeping up with National Insurance and worrying about being sued for firing worthless staff is another issue.

Rory


Staffing (and problems associated with it) is another thread entirely. :bigmouth: