The Tribune

FREE National Movement candidate for Free Town Lincoln Deal II has criticised the government’s business licence renewal process, saying it is burdening entrepreneurs with unclear requirements, prepayments and audit mandates.

In a statement issued yesterday, Mr Deal said Free Town is home to hundreds of businesses that collectively pay millions of dollars in taxes each year, yet continue to face neglected infrastructure and inconsistent services.

He said this year’s Department of Inland Revenue renewal exercise has left “hundreds of Free Town business owners frustrated”, arguing that some of the requirements do not reflect the scale or complexity of their operations.

Mr Deal, who described himself as an entrepreneur with experience in tourism, agriculture, hospitality and technology, said he was previously denied a business licence multiple times and took the government to the Supreme Court to secure his right to operate.

He said the experience highlighted how difficult and discouraging the system can be for Bahamians trying to start or expand businesses.

The FNM candidate said that under an administration led by party leader Michael Pintard, the party would pursue reforms aimed at reducing the cost and complexity of doing business.

Among the proposed changes are eliminating the requirement for businesses to estimate and prepay the following year’s licence fees, replacing blanket audit requirements with reviews based on risk and size, and examining the VAT payment timeline to improve cash flow management.

Mr Deal also said an FNM government would modernise agencies such as Inland Revenue by introducing customer service standards and increasing accountability.

He further pledged to activate the long-promised Invest Bahamas initiative as a one-stop shop for major investments, with a digitised approval process designed to reduce delays and allow applicants to track progress in real time.

In addition, he said the party would commit no less than $10m annually in grants to small and micro businesses, with targeted support for young entrepreneurs, Family Islanders and communities with limited access to capital.

Mr Deal said he is seeking to represent Free Town to ensure that future entrepreneurs do not face the same barriers he encountered when establishing his businesses.