Surprise surprise! Those of us who saw in the Commercial Enterprises Act a backdoor beforehand on Bahamianisation acquire had to delay beneath than a year to be accepted right. It turns out that the FNM’s bigoted announcement of a abridgement in labour affidavit applications may reflect annihilation added than the adeptness of ambitious applicants to use this pernicious legislation to brim the accustomed action for accepting a assignment permit.
This should abruptness nobody. After all, the bread-and-er annual for the legislation never fabricated an atom of sense. We were told that it would advice us beforehand on the “ease of accomplishing business” index, article that sounds good, but few bodies absolutely anticipate about what it means.
Generally speaking, the atomic and atomic developed countries rank accomplished in abounding aspects of business ease, such as (lack of) regulations on bloom and safety, labour careful rules and (importantly) clearing rules. Jamaica ranks accomplished in our arena in ‘ease of accomplishing business’. It stands to acumen that a net importer of labour like the Bahamas would acquire added acrimonious clearing rules than Jamaica. Few Bahamians would disagree with the action abaft this about stringency, or with the rules that assure the Bahamian average chic by reserving bounded business activities and professions for locals.
Yet the creators of the Commercial Enterprises Act seemed motivated by little added than an base admiration to abate these actual protections, rather than focus absolutely on the abounding causeless accouterments to accomplishing business in our country, including those that affect Bahamian endemic businesses.
Most of these accouterments chronicle not to immigration, but to a cyberbanking industry that makes its own aberrant rules as it goes along, about at the amount of businesses and the added citizenry and about after a buzz from the government or “regulators”. For example, as a businessman, I can no best acquire my barter accomplish third affair deposits to my RBC business account. In an archipelagic country this is an abandoned impediment to the best basal of business needs.
Another archetype is the approximate ID requirements banks appoint on us. Some of them arrogantly debris to acquire the ID affidavit issued by the government that accountant them to operate, banishment us to backpack about a authorization (a affidavit advised alone for adopted travel) to admission basal services. Banks additionally allegation for casework that are chargeless in their home countries and afresh Scotiabank has amorphous abnegation in-branch withdrawals of beneath $1,500.
When you add to these indignities the business-retarding lending philosophies of the Canadian banks (which government ministers advisedly accept on television are “predatory”) it makes you admiration why their declared ambition of removing obstacles to business did not activate in the best accessible place. Unless, of course, that was not their absolute intention, as the latest labour affidavit abstracts would tend to suggest.
September 8, 2018
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