BahamaPundit, you are quite ignorant. And, I don't say that to be rude. Perhaps, instead of looking up staff pictures, you should check the independent audit financial statements for urca, bisx and the Securities Commission and you will see that the amount of subvention each receives is quite small.
But, of course, I am sure that facts are not what you are after....is it?

I wonder if these so called entrepreneurs are aware that the Bahamas has crowdfund legislation. So, instead of begging old, set in their stone Board Members for funds, they can actually come to the Public for funding. If the project is viable that is, which, 9 times out of 10, the project is pie in the sky.

Sheeprunner if you have the evidence to back up your claims please provide it to the police so we can deal with these matters once and for all. Otherwise, stop posting nonsensical, hysterical idiocy on this site please.

One day Neil Hartnell will learn how to write a coherent article. Geez, his articles are all over the place.

Mudda, you know sometimes I disagree with you...but on this point, I have to agree. Why do we need a committee for this?

Sickened, the problem isn't the number. The issue is the evidence to support the number. If either his number or your number can be substantiated, then the facts are the facts. But the nonsense the PM is spewing, and it is just that, nonsense, without empirical support, paints the Bahamas in an unnecessarily bad light.
Further, empirical data supports the Bahamas as either the least corrupt or second least corrupt (Barbados) in the Caribbean. So, not only is the PM speaking folly, but his folly is not supported in fact. So, why say it?

Hatter, can't argue with that logic.

Of course it would, Dawes! But obviously mudda is the only repository of Chinese knowledge, so let's not wake him/her out of their little night time nap.

Yes that is the solution!!!! (said with much sarcasm).

Um, because they are a legal entity now (whether you like it or not). Because they seem to be the only people investing/spending money in the Bahamian economy. Because the Government is cashed strapped (or so claims to be) and cant afford to spend additional money on innovation and technology. Because despite the Crowdfund Act introduced by the Securities Commission of The Bahamas, Bahamians still lack the progressive and risk taking nature to start a business, so they look for readily available money, which again is only being offered by the webshops.
But please, continue your hateful diatribe against the webshops.