By Natario McKenzie
Tribune Business Reporter
Bahamas Striping Group of Companies (BSGC) president Atario Mitchell said the group was "putting its money where its mouth is" via a $1m facility which will provide capital funding for local entrepreneurs.
BSGC officially launched The Investment Group Ltd last week. The Investment Group will invest in new or rapidly growing Bahamian companies. Mr Mitchell noted that BSGC was born in 2010 from a $5,000 self-starter grant to its original company, Bahamas Striping, and has now grown to a multi-layered enterprise, including Airport Maintenance Services, Caribbean Pavement Solutions, Bahamas Themed Photography and Abaco Caribbean Holdings.
"We want to plant $1m to raise up the next generation of Bahamian millionaires. Unlike some who made their success and locked the gate behind them, we want to do the opposite," said Mr Mitchell, noting that the group wants to give entrepreneurs the keys to access funding to help grow the economy. Local companies KW Paving, Global Energy Solutions Limited and United Data Technologies are the first to benefit from the fund.
"This is what our country needs. This will inspire our next generation of Bahamians to build The Bahamas," said Mr Mitchell, adding: "We want to put our money where our mouth is to empower young Bahamians and help them fulfill their dreams."
Mr Mitchell also revealed that BSGC by mid-2018 is looking to commence construction on a cold patch manufacturing facility in West End Grand Bahama. The plant will produce environmentally friendly cold patch and asphalt repair mix using local aggregates. "Our vision is to meet domestic demand and export through the Caribbean."