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IAN FERGUSON: The human touch in small business

More than 80 percent of Bahamian businesses do not have the benefit of on-staff human resources professionals. Literally thousands of Bahamians are operating without a buffer between them and management.

Downtown art district plan to put Miami, New York ‘second’

The Ministry of Tourism’s plans to transform downtown Nassau via creation of an “art district” will relegate similar spaces in New York and Miami to “second spot”, a senior official pledged yesterday.

IAN FERGUSON: How businesses can survive frugality calls

Business frugality is essential for survival. With supply chain issues continuing to plague many industries, and inflation still surging, business owners (especially the most vulnerable among us) must find ways to save. This week’s column focuses on ten ways a business can go the extra mile to save a dollar.

Cruise spend ‘antibiotics’ set for December launch

The Ministry of Tourism plans to launch the “antibiotics” that will help cure low cruise visitor spend in downtown Nassau by December 1, a top tourism executive disclosed yesterday.

Queen’s passing shows importance of succession

The passing of Queen Elizabeth II has thrown the British Royal Family into transition and change.

IAN FERGUSON: How to make a difference in climate change battle

The concepts of sustainability and conservation have become top of mind for many businesses who understand the local and global implications of climate change. Avoidance is no longer an option. We must all play a role in making business decisions that help heal our planet. Science has been clear in telling us that every little bit helps. With all hands on deck, lifting and promoting practices that are eco friendly, we can see the positive impact.

IAN FERGUSON: Forgoing growth can be major profit boost

Growth is a long-term objective for most businesses. However, some firms never grow and remain as small businesses forever. Here are a few factors that explain why some businesses do not have growth as the main objective.

IAN FERGUSON: Obstacles still in the path of women in business

Over the past century, women have made great strides in politics, civic society and business.

IAN FERGUSON: Start planning now for our 50th Independence

Throughout the length and breadth of our archipelago, the level of excitement surrounding the 50th independence celebrations scheduled for July 10, 2023, is building among Bahamians.

IAN FERGUSON: Bahamians should not fear diverse workforce

WHEN discussing the movement of people from one place to another, it can become a little confusing to know the correct terms to use.

IAN FERGUSON: The advantages from being an entrepreneur

The COVID- 19 pandemic has caused hundreds of Bahamians to consider - and reconsider - the idea of entrepreneurship. The massive lay-offs and furloughs pushed many employees to start home-based businesses as a means of turning over some revenue.

IAN FERGUSON: Employers must wake up to staff discontent

The past two-and-a-half years have possibly seen the most dramatic shift in the labour market, and work environment, in Bahamian history. Unemployment rates during the pandemic hit unprecedented levels and now, two years later, as companies recover in leaps and bounds, frictional joblessness and mass resignation has become our new reality.

Corporation’s ‘lifeline’ for tourism businesses

Throughout the Caribbean and in the many parts of the world where tourism reigns, tourism development organisations and agencies have reshaped the template for visitor experiences. The Bahamas’ own Tourism Development Corporation, in similar fashion, is poised to redefine how we deliver goods and services to the tens of millions of tourists who visit our shores annually.

IAN FERGUSON: Grooming a workforce for corporate success

A grooming policy should reflect the needs of the employer while not unnecessarily restricting an employee’s individual expression. The more formal or professional the culture, and the more employees interact with individuals outside the workplace, the greater the need for employers to have a policy governing employee grooming and hygiene.

IAN FERGUSON: A new vision for Grand Bahama

I had the honour and privilege of attending the groundbreaking ceremony for the Carnival Cruise Line’s port terminal for the island of Grand Bahama yesterday and what a celebration it was.

IAN FERGUSON: The advantages to buying Bahamian

The Bahamas presently imports more than $5.5bn in goods and services annually. Over 94 percent of our food is imported from the US and our other trading partners. For many years we have lamented these statistics, but have not made significant strides towards changing this reality.

Recognise the talent within all employees

In large companies and government agencies, we often run into the challenge of viewing team members as multiple ‘fish’ swimming in a large ocean. Sometimes our companies become so large and impersonal that people - and their talents and gifts - get lost in the fray. I understand this all too well, as I have in many cases felt undervalued in various companies where I have served, both socially and from a work perspective.

IAN FERGUSON: How to handle office romance

Many people meet their lifelong partners at work, yet dating someone in the office is often frowned upon.

IAN FERGUSON: Skills required for proper leadership

Successful leadership never happens by choice. We have suffered for many years as a nation by giving titles to those who have no clue in the art of leadership. A leadership track record does not consist of big jobs or large networks. When a person cannot build healthy trust, centred on relationships, and nurture the talent of those around them, they cannot be regarded as having leadership skills.

IAN FERGUSON: Proper budgeting key to business growth

The month of March usually signals the start of budget hearings and defences throughout the government sector. Proper justification for monies required, and how they will be spent, is crucial if a business is going to succeed and grow.

IAN FERGUSON: Social media presence needs constant refresh

As a business professional wanting to improve your personal brand and remain relevant in the marketplace, your social media presence becomes a priority. When was the last time you refreshed and updated your company’s social media pages? Perhaps this article serves as the catalyst you need to do just that.

IAN FERGUSON: Ways to maximise your online selling

Taking your business online, and using a website that allows customers to access your goods and services, is no longer a highly technical challenge. Globally, most companies that have a physical store have already made strides in incorporating online sales into their business mix.

IAN FERGUSON: Why companies benefit from hiring consultants

Consultants can provide expertise and an objective eye in helping to guide a business, with different consultants specialising in various industries and areas. These include strategy and management, operations, human resources, finances, funding opportunities, IT, tourism, hospitality and sales and marketing.

IAN FERGUSON: Signs workers need new job challenge

Economists indicate that the only form of healthy unemployment is frictional unemployment. That is the process of leaving a job to explore options that are more in line with a worker’s interests and skills.

IAN FERGUSON: Steps for achieving workplace fairness

Fairness and equity will be the defining issues for companies in both 2022 and years to come. The workplace environment has a great impact on employee productivity and their view of employers. Happiness at work is a metric that can be hard to measure, but is essential to the success of a company. Managers must use their control over policy to ensure fairness in the workplace so employees feel productive and happy.

Securing your business over Christmas holiday

Before you spend your time and money on Christmas festivities, remember to plan for a safe and secure holiday. While the festive season brings joy and excitement, it unfortunately also sees a rise in criminal activities, especially those directed against the business community. Here are our most effective tips for holiday safety and security:

IAN FERGUSON: Inviting the giving spirit to your firm

THANKSGIVING Day, even in The Bahamas, usually signals the start of the festive season and the season of giving. This year, the spirit of giving is even more critical as the world rebounds from the terrible grip of the global pandemic.

IAN FERGUSON: Positive steps to a healthy workplace

A focus on employee health and wellness has become critical for many companies. Designing and managing employee wellness programmes, and developing strategies for helping workers achieve their health goals, is an important step in improving the health and productivity of employees.

IAN FERGUSON: Managers must relate to their older workers

Being an effective manager takes critical skills such as leadership, communication and strategic planning. It takes time to build rapport and respect with a team, and managers who do not take the time to do this can have a negative impact on team performance and morale.

IAN FERGUSON: Succession planning is vital to lasting success

Whether you are a small family business or a large corporation, a business owner or a human resources manager, effective retirement and succession planning is vital for your company’s continuing success.

IAN FERGUSON: Beware peril of unfair employee dismissals

When you terminate an employee’s contract without a fair reason, it is an unfair or unlawful dismissal. Sometimes these issues are dealt with at Industrial Tribunals but, quite often, there are many terminations that go unaddressed.

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