The Tribune

BY DENISE MAYCOCK

Tribune Freeport Reporter

dmaycock@tribunemedia.net

The Deputy Prime Minister yesterday urged Grand Bahama businesses to consider Nassau expansion rather than just confine themselves to their home island.

KP Turnquest made his call while delivering the keynote address at the official opening of the newly-constructed Freeport Insurance Agents and Brokers Building on West Mall Drive.

He praised the company for taking "a leap a faith" in December 2014 to become owners in the insurance industry on Grand Bahama, and also expand to New Providence.

"They took the challenge and look at them today; they come from a team of five to now 50," said Mr Turnquest, who praised the company for expanding its service to Nassau on Shirley Street with a staff of four.

"You do not have to be confined to GB," he added. "The Bahamas is available to all of us. Some how we believe we are locked here. We have licenses from the Grand Bahama Port Authority that do not allow us to do certain things, and so we think we are stuck. But I want you to think about expanding your brand - you do have something to offer, and you can compete."

Mr Turnquest said there was a sentiment among some that Grand Bahama's economy was not moving, but added that Freeport Insurance Agents and Brokers' expansion "marks a more positive truth" of what is happening on the island. He added that young Grand Bahamians were moving from employees to becoming successful entrepreneurs.

"Things do not automatically move; people make things move, and that is what we are witnessing here," the Deputy Prime Minister said. He mentioned several successful businesses that were formed by Grand Bahamians, including Quality Wash and Press; Express Food Mart; Fowlco Marine; and Elnet Maritime Center, which recently broke ground in Freeport for a $2m facility.

"These are all Bahamian businesses; these are all GB residents all demonstrating confidence in the local and national economy, and following their dreams with well thought out business plans, Mr Turnquest added . He conceded, though: "It is fair to say things are not happening fast enough for everyone."

The Deputy Prime Minister said the Government was implementing policies and legislation to grow the economy, such as the Self-Starter and Jump Start programmes on Grand Bahama.

He added that 80 young Bahamians have received a start from the Apiary Programme, with the honey-making business experiencing tremendous opportunity and growth.

The Government also plans to launch the Small Business Development Centre, a collaboration between the Ministry of Finance and University of the Bahamas, on Grand Bahama next week.

"It is a very holistic programme we are engaging on. Through deliberate intent of the Ministry of Finance and the Government, we set aside 20 percent of our procurement budget for these kinds of start-ups to ensure they have a base from which grow," Mr Turnquest said.