Employee benefits now 23% of salary
The average extra cost, across the world, to businesses in social security and other ‘taxes’, of employing a worker is now almost 23 per cent of an employee’s salary, according to research by UHY, the international accounting and consultancy network.
Atlantis condo tower does $20m in six months
Paradise Island’s 497-unit condo complex, the Reef, is providing evidence of a real estate market revival through $20 million worth of sales within six months.
Non-contributory pensions: 'Those days are past'
A leading Bahamian accountant has warned that the days of non-contributory pensions “are over”, as he called on this nation not to let total employment costs “get out of hand”.
CHAMBER VOICE: The business of one big, happy family
A well-respected business owner recently questioned me on the benefits and drawbacks of owning and operating a business that employs family members, and where the principals in the company are all related.
World Bank exec targeting Bahamas 'incubation centre'
EARLY-stage Bahamian entrepreneurs could soon have the benefit of an “incubation centre” to support their development via a World Bank programme that has already facilitated a network of approximately 400 business incubators in more than 100 countries.
GB Business Outlook unveiled
The annual Grand Bahama Business Outlook (GBBO) will take place on Thursday, March 14, at the Grand Lucayan Resort in Freeport. This year’s theme is ‘Discovering the Opportunities in this Challenging Environment’.
Gov't targets $100m VAT net revenue rise
The Government is estimating that implementation of a Value-Added Tax (VAT) will generate a $100 million net increase in its annual revenues, Tribune Business was told yesterday, with the new tax generating equivalent to 2 per cent of Gross Domestic Product (GDP).
Bahamas needs $1.8bn infrastructure spend
THE Bahamas needs to invest at least $1.8 billion in infrastructure in the short to mid-term to support economic growth, a senior accountant said yesterday, telling Tribune Business that a $500 million investment in education alone was “critical”.
Bahamas can't 'sit and wait for next Baha Mar'
Small businesses will have to drive economic growth for the next two-three years, a leading accountant said yesterday, arguing that he did not see “any significantly large business coming to the Bahamas” post-Baha Mar.
Venture Fund's 'failure rate' 11% pts higher outside Nassau
The Government-sponsored venture capital fund has suffered a Grand Bahama/Family Islands “failure rate” that is 11 percentage points higher than New Providence, although its chairman yesterday said it expected to receive a further $1 million injection from the Government by April.
Govt reviews three GB casino proposals
THE Government is set to review “at least three proposals” for the takeover of the Grand Lucayan Resort’s casino by a new operator, Tourism Minister Obie Wilchcombe said yesterday, telling Tribune Business it should be close to a final decision next week on which group would win.
Commission analyst to study Mandarin
A Securities Commission of the Bahamas (SCB) employee is taking a six-month Mandarin course in China.
Business forum boost for Grand Bahama
More than 300 international delegates attended the first-ever Bahamas International Investment and Business Forum, participating in two days of intensive discussions on potential investment opportunities in the Bahamas - particularly Grand Bahama.
Hotel boss questions why GB so expensive
GRAND Bahama must start to capitalse on its US proximity, the Pelican Bay’s general manager said yesterday, questioning how- as the closest Bahamian island - it was more expensive to get there.
BICA stages its first Peer Review workshop
The Bahamas Institute of Chartered Accountants (BICA) has held its first Practice Monitoring/Peer Review Workshop, aimed at preparing licensees that sign off on attestation and assurance engagements for a process that begins this year.
