Mrs. Tanya Wright, former Bahamas Chamber of Commerce president and current Senator recently advised Bahamians not to ‘rely on government’.

When she was president of the Chamber, we did not see eye to eye on many of her pronouncements, but this is music to my ears.

Congratulations Mrs. Wright!

I’m beginning to beleive the message of the Nassau Institute is sinking in.

What do you think?

Here is the full story by Neil Hartnell in The Tribune Business of Thursday, October 25, 2007, reprinted with his kind permission.

Ex-Chamer head: ‘Don’t rely on government’

By Neil Hartnell
Tribune Business Editor

THE private sector should seize opportunities to “reap tremendous financial benefits” by providing the necessary support services demanded by small businesses, a former Bahamas ‘Chamber of Commercepresident said yesterday, rather than looking to the Government all the time to provide the solution.

Entering the debate on how best to support Bahamian entrepreneurs and small businesses, Tanya Wright said “the last thing we need” is to keep relying upon the Bahamian government to establish agencies and departments to deal with the issue – something that, in the past, has contributed to bureaucracy, red tape, rising costs and endless frustration for busiriesspeople that has seen many exit commerce.

Instead, she suggested that the private sector could step into the breach and provide the necessary support services to Bahamian entrepreneurs, the profit motive acting as an added incentive to help these companies get into business.

“We can’t continue to run to the Government for initiatives that the private sector can do,” Mrs Wright said, “and we have to make sure the Government recognises that if the private sector can do it, there’s no point in denying opportunities that can take the Bahamian economy to the world standard it ought to be at.

“When a private citizen thinks of a shortcoming or shortfall in the Government of the day, he needs to see that as an opportunity to reap tremendous financial benefits not only for himself, but the economy of the Bahamas. That’s the role of a proactive, thriving business community.

“The Government should not be creating busincsses. That’s a private sector initiative.”

Several business executives, including the Small Business Association of the Bahamas vice president, Marlon Johnson have urged the Government to totally reform and restructure the agencies charged with providing financing and business advisory and support services to Bahamian entrepreneurs.

They have urged the creation of a Bahamas Small Business Agency, formed from merging the Bahamas Agricultural and Industrial Corporation (BAIC), Bahamas Development Bank, government loan guarantee programme and government-sponsored venture capital fund, into one. This consolidation is seen as eliminating bureaucracy and red tape, and speeding up the he ensiug and approvals process for Bahamian businesses.

While backing Mr Johnson’s call, Mrs Wright said that mstead of relymg on the Government, the private sector should instead seek to fill the breach itself, “jumping on it and doing something about it. They may find there is tremeildous financial gain as a result.

“Calling on the Government for everything is not the right answer, and not how a private sector ought to operate,” Mrs Wright added.

As an example of a Bahamian company meeting the demand for business advisory and support services, Mrs Wright pointed to the firm she had established after leaving Bank of the Bahamas International, World Corporation Group, and its subsidiary, Business Builders.

The latter took a business concept and helped its author build the firm and its structure, doing “all the legwork in navigating the bureaucracy”. Business Builders helped devise a structure and register the business name, obtained all necessary government licences, permits and regulatory approvals, researched the target market, established the relationship with the National Insurance Board (NIB), and helped with the creation of accounts and an independent Board of Directors.

Creating such a set-up, Mrs Wright explained, would ensure a business was “seen in a much better light than just a business attached to the hip of its proprietor” when it approached commercial banks and other capital sources for funding.

“As business people, when there are any deficiencies or shortcomings on the part of government, what we should do is recognise that there is a bounty of opportumties for private citizens to get involved,” Mrs Wright said.

“I think we are failing ourselves as business people if we continue to look to governmcnt to start initiatives that could he, and ought to be, run by private business people.”

She added. “We all know small businesses need a hand, and there are many ways we could improve on the initiatives done so far ……

“[But] the last thing we need as business people is to wait for the Government to create a department, staff it, train it, and fund it before they can give small business people a hand.

“As a private citizen, a professional, I could provide a service the same wav the Government can. There is no reason why a private sector individual cannot sec that see an opportunity to help small businesses.”

Mrs Wright said many Bahamians were looking for opportunities “in the wrong places”. She added that technology companies should be “sending their proposals in like crazv” to the Government on how all departments could be computerised for e-government, in this way holding administrations accountable for promises they had made in their manifestos.