“We advised Mr Woods that we cannot provide transportation at this time, due to the cost involved and that we are looking at all ways to preserve jobs. "

From that one line, it sounds like the hotel sought to temporarily suspend a particular service as opposed to permanently terminating more employees than they already have. I really don't see what more there is to discuss here outside of their initial communication with Mr Woods. Why would he need a 'lengthy / long discussion on it'. This is an "it-is-what-it-is". If anything, the union should be seeing how they can help their members by offering a transportation alternative in the interim. Sounds like Atlantis offered a compromise --> if they keep the transportation service then more folks would have to be terminated to address the cost. The whole world going through these issues...no time for the union to be grandstanding. Some hotels aren't even opening.

....your entity has a major client that is 'unable to pay bills as they are due' (i.e., illiquid)..."it's just the way The Bahamas operates"...."I've been at this for 14 years now"......bruh, you're the CFO, it's wild that you're willing to make those statements on a call to shareholders without pushback from analysts questioning you on the call. Whether the customer is a Government-owned entity or not, your company should have something in place to secure the delinquencies...auditors sleeping ey?

Perhaps it's "common business sense" instead of "desperation".

If a business owner is faced with the option of either [1] fold the business; or [2] get a cash injection; there is a strong likelihood that they would take the cash injection (life-line) over allowing the business to immediately fold. There is no comfortable or easy decision.

Many businesses initially dismissed the continuity loan before even reading the details. There is a four-month deferral built into the loan. The loan is direct with the lending institutions and not the government. And guess what...if after four-months things have still not turned around economically, the MSMEs will more than likely have the backing of the government to collectively lobby for more time (since they would represent members of a specific government program, as opposed to a case-by-case loan). On top of the loan, there is an additional grant to help businesses specifically pay their staff. The grant doesn't have to be paid back.

It's never a good position to be in when you need to seek cash injections for your business. However, this is a good deal. Probably the best available right now. Small businesses should take it, while it's available. The only business that should truly consider a different option is a business that was struggling before the COVID-19 pandemic even started to take effect. Those businesses should really consider their overall business model.

I am. It works seamlessly for 'some' of the banks, but not all. Not all businesses/customers bank with RBC or SBL. Again, lack of consistency. My feedback here is coming straight from dealing with multiple platforms.

The VAT filing for March is normally due on April 21. So if this article is correct, then that would mean the filing date has now been moved up. The headline and content don't seem to be accurate.

The quickest way to enhance cash flow ----- **make it as easy as possible for customers to pay you.**

BPL should quickly adjust their policies to make sure it meets the current situation of their customers. Start making calls and put out mass communication on how to make payments during the COVID-19 dilemma....don't just wait until payments stop coming in.

Currently, there is an online portal that businesses can use to make payments, but it only works efficiently under the best of circumstances.

I know of multiple businesses that struggle to retrieve their bills timely and have challenges using the online portal because it was set up under an email address that is no longer available (i.e. a previous accounts clerk that no longer works for the company). Or, businesses that have multiple meters can't get their bills all at once or in the same manner because of some bureaucracy.

The entity needs to revisit their online payment process with a particular focus for the ease of businesses. In appearance, it seems to be well established, but in practice, it is not.

This is a very unfortunate situation for all. And I hope that the employees see a swift resolution. However, it's fair to call out the realness in this situation.

"payroll deficiencies" = poor financial management.

It is agreed that the COVID-19 definitely has put a global strain on the economy, with repercussions for us locally. However, being unable to make payroll for the week prior to the shutdown (for services already rendered) gives an indication that the company may have probably already been in massive cash flow management trouble.

Being a young/new company is no excuse. The management team should have been in a position to properly scale their staff complement to match what their cash-flow could support (no one on the competent team was forecasting cash needs? Staffing cost is the easiest to predict since the company is in full control of that). As a new company, you're allowed a 'bligh' for not providing service at 100% if you're still in the start-up phase. But it's a stretch to ask for a 'bligh' if you intentionally expanded your services beyond what you could afford on the hopes that money was on the way. In tough times, [1] always make sure your staff is in good order and [2] never spend money you don't have yet. The management team should accept some level of accountability for this (not throw it on the investor). I hope this is a lesson learned.

You mean maybe 200 jobs at minimum wage; significant tax concessions to the foreign entity (that lasts for a decade or more), and most of the profits generated being diverted out of the country to said, foreign owner? At least if it were a Bahamian owned entity, you would have more comfort in knowing the profits were being redistributed into the local market. In the long run, that does not materially help the economy. In the short run...sure, maybe.

SMH...that statement really should not be used to generalize ALL Bahamians.
I think this depends on the industry and HOW the employer is advertising. I know of several young Bahamians that are part-time in school and looking for landscaping and other side hustles. If you come with the mindset that "ain't no Bahamians want to do this anyways" then of course you won't even go looking in their direction. Put one of those job advertisements on instagram for a part-time gardener/handyman and I bet they will find young and idle Bahamians willing to do it. Half the time, the employers advertising in such an archaic way that they are not even connecting with the viable job seeker in the first place.

I really hope his "good ideas" are based on more than just his personal experience and exposure. I don't recall any survey or study going out to chamber members to get their input. We must recognize that having an understudy and determining the best way to develop that individual depends on the industry and nature of work. Blanket suggestions for an overall strategy won't do the trick. I hope his ideas represent that of a diverse mix of business types.