By ANNELIA NIXON

Tribune Business Reporter

anixon@tribunemedia.net

Not all Bahamian businesses were yesterday said to have felt the 3.4 percent expansion in the country’s gross domestic product (GDP) for 2024 as measured by the National Statistical Institute.

Kendrick Delaney, owner of The New Duff, said his business did not see much growth and blamed it on inefficiencies related to the ease of doing business. “While national growth of 3.4 percent is promising, The New Duff did not experience that same momentum in 2023-2024,” he revealed.

“After years of exceptional gains, our growth plateaued; not due to demand, but due to inefficiencies in how we do business in The Bahamas. We don’t have a talent problem. We have a system problem. There are skilled Bahamians and hard-working migrant workers ready to deliver.

“But what holds us back are outdated banking practices, sluggish public processes, and a cultural reluctance to demand better. It’s not uncommon to pay over $900 in duties and fees on urgently needed equipment, then wait two weeks for clearance. That’s not progress; it’s friction. But we don’t need to sit in complaint. We need to act.”

Mr Delaney added: “Here’s what we can do. Automate public incentives and clearances. The Department of Inland Revenue already has our VAT and compliance history. Our TIN (taxpayer identification number) should act as a passport across agencies, instantly qualifying businesses for Customs exemptions and small business programmes.

“We should reform SME (small and medium-sized enterprise) banking. We need digital payment rails, faster account onboarding and reduced fees for micro businesses. Give SMEs the tools to scale without punishing them with red tape. Invest in cultural exchange for youth. Most Bahamians have never lived abroad. We must send every high school student on a short overseas exchange.

“In 30 years, this will shift our collective mindset and break the belief that ‘this is just how it is’. Innovate education with platforms youth use. Bahamian kids are learning on TikTok; why not embrace it? A national TikTok curriculum with exciting short-form lessons could spark real engagement. A one-time investment here could transform education for an entire generation,” Mr Delaney added.

“Reframe Immigration. Our economy is powered by foreign-born workers, especially in service sectors. Let’s recognise their contribution and stop the silent prejudice. Immigration is not our enemy; inefficiency is. Raise standards, not excuses. Bahamians must start expecting more  - faster service, transparent processes, fair treatment. Whether it’s banks charging ‘maintenance fees’ with no service, or approvals taking six months, we’ve normalised dysfunction.

“At The New Duff, we’ve built a brand rooted in Bahamian pride and global standards. But to grow further, we need a country as forward-thinking as its people. We’re entering the age of AI. If we don’t modernise our systems now; if we don’t make bold policy and cultural shifts, we’ll fall behind while the rest of the world leaps ahead. I believe in this country. I see the talent. I live the frustration. But more than anything, I see the opportunity if we’re willing to act.”

Businesses were also torn over the idea of importing skilled expatriate labour to maintain economic growth if there are no qualified Bahamians trained, willing and able to perform the work required.

While Ben Simmons, owner of Little Island Hotels, consisting of the Ocean View Club, The Other Side and The Farm, as well as Ethan Quant, Lifestyles Digital Media Group founder, both agreed they have seen some economic growth through their companies, they also believe inefficiencies in the public and private sectors must be addressed to improve this.

However, Mr Quant said that even with inefficiencies he sees more growth on the horizon. “Well, you know, from my personal experience, banking and government just tends to be quite inefficient at times,” Mr Quant said. “But I do feel that even in their inefficiency, that isn’t any excuse as to why you can’t grow, or why we can’t enjoy economic growth, even with those inefficiencies.

“Because if we did enjoy that  3 percent growth last year, even with those inefficiencies, in my mind, yes, we can enjoy even greater growth with greater efficiency. But I think true growth comes from public-private partnerships and having conversations.

“So even like engaging with organisations like Bahamas Chamber of Commerce, that can help you and advocate for you as a business owner. They are things that you can do to even safeguard yourself against those inefficiencies.”

Mr Simmons added: “I think that the building permit process, as a developer, that can be challenging. I don’t know what goes on in back of house for those departments. I’m sure they’re overwhelmed with the volume of just raw paperwork that needs to be assessed.

“So if there are some efficiencies that are to be gained in that process, as a developer, I would be grateful and hope that they can can move forward. Recently, I did apply for some CEC, certificate of environmental clearance, and that process with DEPP has  been really fast. I think that that’s improved considerably over the last sort of five years since its inception.”

Mr Simmons and Mr Quant agree that skilled workers are another factor impacting economic growth, but they do not believe foreign labour is needed in order to see progress.

“It starts with education and we have to invest heavily in education if we want to build that workforce,” Mr Simmons said. “Because there is a fundamental need to ensure that that the schooling system is not only training our kids for a future, and it’s a rapidly changing future, and in terms of AI and how that’s going to interact with how people engage with our economy.

“I mean, all of that needs to be taken into consideration. But I think, holistically, when we talk about hospitality and that human component, that is a very trainable skill that we can find, and have historically found within The Bahamas without the need of excess imported labour.

“If anything this is why I’m a strong advocate of small. And this is the idea of our business model: That by smaller, simpler businesses, we can engage people on a local level, and that they can learn the skill sets to grow with business and grow to the management level,” Mr Simmons added. “The Bahamas seems to be very, very excited about larger scale developments, but they always come with an exceeding, increased degree of complexity.

“With that complexity, you end up having to need imported labour. And if you start with a small mindset, that gives greater opportunity, I think, for a local person with limited experience to be engaged. With that, we have to design an economy that meets the local populace’s needs. Otherwise, what are we doing? Are we building a country for foreigners? Are we building a country for Bahamians?

“And so encouraging business that requires the skill sets that we have here, or at least the potential skill sets, we’re going to create an economy that engages Bahamians in the long-term versus essentially surpassing or usurping our population with this imported labour. My effort and hope is that we always try to hire from from the local area first, and then move to another island,” he added.

“Maybe that local labour is available from another island. And I think Immigration policy is meant to take that into consideration. But it seems that most of these big Heads of Agreements, they come with a litany of excess work permits that you can get provided that you hire some percentage of Bahamian companies.

“And mostly those big Bahamian companies are also just importing the labour. So it’s really not a true control on encouraging people to hire locally.” Meanwhile, Mr Quant believes companies should position themselves “as a top tier employer.” 

“I used to subscribe to that notion that finding qualified, skilled people is so hard,” Mr Quant said. “But I don’t do that any more, because I realised that, one, if you are attractive as an organisation, you will attract top tier talent.

“And so just one of the ways to do that is to let people know who you are, what you’re doing, and how awesome you are; not just for the industry that you serve, but for the employees or people that you employ.”