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Business License Bill - Prime Minister Hubert Ingraham
Since returning to office in 2007, my Government has remained steadfastly committed to strengthening the domestic business environment. Our overriding objective in doing so is to facilitate the creation of new businesses and the expansion of existing ones, both of which are vital to securing growing employment opportunities for Bahamians and better standards of living. That is of particular importance during the very difficult times that our economy and workers are currently experiencing as a result of the Great Global Recession.
The Ministry of Finance wishes to correct misinformation that has filtered through the public regarding the registration for business licences under the new Business Licence Act.
Contrary to reports, the registration of business licenses under the new Business Licence Act, does not carry with it a late fee for persons who have missed the March 31 registration deadline.
The Ministry of Finance wishes
to correct misinformation that has filtered through the public regarding
the registration for business licences under the new Business Licence
Contrary to reports, the registration
of business licenses under the new Business Licence Act, does not carry
with it a late fee for persons who have missed the March 31 registration
Under the new Act, persons
found to be operating a business without a business licence, and who
are charged and convicted before the courts for this offence, would
be liable to a fine of $5,000 plus $100 for each day he or she is in
contravention of the Act.
By NEIL HARTNELL
Tribune Business Editor
The Bahamas Insurance Brokers Association's (BIBA) president has called for the revocation of agency/brokerage licences held by commercial banks, telling Tribune Business the situation creates "a really unfair playing field" that prevents smaller firms from competing and squeezes them out of the market.
Vaughn Culmer, of Vaughn Culmer & Associates, told this newspaper that while some Bahamian commercial banks were able to compete in the insurance market through their agency and brokerage licences, insurance firms were unable to get the relevant permits and do the reverse.
And he pointed out that small, independent Bahamian insurance ...
THE National Insurance Board is struggling to collect backdated contributions from straw vendors, most of whom are said to be in arrears.The Tribune was told nearly 80 per cent of the 605 straw vendors registered with NIB are behind on their contributions.
The vendors must have business licences in order to operate stalls in the new $11 million facility on Bay Street and have to prove they are up to date in NIB contributions, or engaged in a payment plan, in order to renew their business licence.
Ladies and Gentlemen:
Twenty-two years ago when you first elected me at age 42 as your Party Leader, I could best have been described as an improbable choice having previously been Chairman of, Member of Parliament for, and Cabinet Minister in, the PLP Government.
Prime Minister Hubert Ingraham on Wednesday night noted that straw vendors and The Bahamas got a 'black eye' as a result of the garbage some of them left on Prince George Wharf when they moved from that location to the new $12 million straw market on Bay Street.
"Last week, when you moved into these new premises and the clean-up of the temporary tent site was being undertaken, some in the media chose to highlight the debris left behind by some of you," Ingraham said at a ceremony marking the official opening of the new market.
"You got a black eye on that score and so did The Bahamas.
"The area has been cleared and the road repaved.
"Some improved landscaping will follow. The place is very different now. Let's work together to keep it that way."
The debris left behind by vendors created an eyesore on the wharf when thousands of cruise passengers were in town.
Ingraham told the vendors, "You are now in new premises.
"You are compliant with the law. You have paid your NIB contributions and are holders of business licences.
"I regard you as bona fide and respected independent entrepreneurs and so does the government.
"I am proud of you. Be proud of yourselves."
Ingraham also challenged straw vendors to 'up their game' in the quality of goods sold in the market.
"Today represents a new day for our straw and crafts industries. It is a day to seize the future," Ingraham said.
"In order to seize this future we must commit ourselves to significantly increasing the quantity of goods produced as well as the quality and substantiality of these goods, and the timeliness with which they are available to consumers."
Ingraham told vendors that they must be willing to be innovative in designing and creating products in an effort to compete on the global market under the label, 'Made in The Bahamas'.
Hundreds of vendors moved into the new market, more than 10 years after the old market was destroyed by fire.
For many years vendors had been working under a tent on Bay Street. But that tent was badly damaged by Hurricane Irene in August.
In recent weeks, vendors operated from Prince George Wharf.