Thursday, January 31, 2019

OWN Bahamas Foundation survey reveals startling stats on Bahamian entrepreneurs

NASSAU, BAHAMAS – As the OWN Bahamas Foundation ups the ante to support local entrepreneurs through a 2019 expansion, an online survey of OWN Talks participants reveals startling statistics about the state of entrepreneurship in The Bahamas.

The survey was distributed to over 1,500 participants in the foundation’s popular motivational speakers’ event which draws crowds numbering in the thousands.

Four- hundred and ninety-four (494) entrepreneurs and aspiring entrepreneurs completed the survey with responses from every constituency in The Bahamas except four.

When asked about their entrepreneurship, current business owners revealed that, on average, they have been in business for 1-3 years.

The top five industries for these entrepreneurs include general retail, food and beverage, hair, nails and cosmetics, culture and manufacturing.

For these entrepreneurs, the three biggest obstacles to starting their business were raising the start-up capital, the cost of doing business in The Bahamas and “government red tape,” in that order.  Read more >>