The Tribune

By Dian N. Saunders-Adderley

The historians have documented the economic history of the Bahamas very well. It shows that the citizens are able to muster up courage and creativity in the face of threats to their survival. In the 1600 -1700s, Bahamians thrived from fishing and from wrecking Spanish and French vessels. Salt was traded for food and other goods with Carolina. Forts were built to protect the regional centre of trade (Nassau) that our pirate ancestors had established. The lack of government, and the absence of any law, resulted in the island being referred to as the Pirate Republic, and Nassau was hailed as the ‘Black Flag Headquarters.’

‘Nassau’ soon became known in the region as the port of selling and buying. This has been identified as the start of tourism in the country. By 1760 the islands approached a peak of prosperity because of the trade with North America. In 1787, when property rights were surrendered to England, foreigners rushed to the islands after the King of England awarded to the head of each family 40 acres of land, with an additional 20 acres for every household.

Eventually wrecking was overtaken by slavery, as the Bahamas prospered through the international trade in cotton with Britain. A little bug then destroyed the cotton industry, and wrecking returned to its glory days. By the 1900s another opportunity to boost the economy was found and we became known as the Bootlegging Haven. Today we have built a new identity as a tourism and offshore banking giant.

This colourful history is a testament to our determination to advance as a nation. Bahamian Independence means always looking for ways to sustain our people; building and developing our people; and our people showcasing our identity through innovation and creativity. As we head into our 41st year, what skills will serve us best as we advance?

Cruise ship visitors have placed a $70 per passenger cap on our product offerings. Perhaps this is simply because they are hedging that at the next port of call they will find better stuff. Our creative community will never increase this figure with rebranded goods or improved services. Visitors will only be attracted to spend more when they can say: “Surely I will never have this opportunity to buy this product or be so greatly entertained anywhere else.” What skills must be created or sharpened to gain such a competitive advantage?

Many family/Bahamian-owned businesses have shifted gears by inviting the next generation of well-educated offspring to take the business to the global market. However, too many other businesses have failed to recognise the talents of their offspring,and hence have either died or are surviving on pension-assisted life support. The Chamber desires that all commercial enterprises flourish and are passed from one deserving generation to the next. An extensive array of courses to gain new skills are being offered by the Chamber Institute to meet the needs of new and mature businesses. Visit us at www.thebahamaschamber.com.

Likewise, too many successful businesses have lost the relay at the passing of the baton because of complaints and conflict. Complaints and conflicts during this transition are not burdens but gifts. They afford businesses the opportunity to understand their business partners and their target markets. They are able to design their agreements, products and services to gain competitive advantage. Therefore, bridging the generation gap is important to prevent business stagnation, and so businesses should seek help to mediate the differences.

Through mediation, disputing business partners are empowered to deliver one-of-a-kind solutions for themselves as long as there are no legal restrictions. Court settlements of sibling fights may not only cause the business to dissolve but may split the family for a few decades to come. This not only hurts the business and the family, but it hurts the nation. Business owners are encouraged to train themselves and their staff in more than word processing and spreadsheet manipulation. Skills in co-operation, conflict avoidance and mediation must become primary skills, and should be taught to the entire country from primary school students to retirees.

Through widespread education and improvement in mediation skills, Bahamian enterprises are bound to move forward in our pursuit of opportunities. We can be assured continuance across generations as we work together to strengthen our national brand - ‘Bahamian’.

• NB: Dian N. Saunders-Adderley is director of the Alternative Dispute Resolution (ADR) division at the BCCEC. She is a chartered civil engineer with over 18 years of experience in the construction, petroleum and public utility sectors.