Be careful! Our laws must not discourage people from doing business
The government is being warned against developing legislations that discourage business owners, especially young and aspiring entrepreneurs, from conducting business in the Virgin Islands.
Businessman and legislator, Mark Vanterpool, delivered that word of caution yesterday as the House of Assembly debated the Business Licensing Act, 2020 — a piece of legislation drafted to regulate businesses in the territory.
Vanterpool noted that some of the language used in the bill needs clarification as it can be discouraging for business owners.
The Fourth District Representative specifically noted Section 6(d) of the Act that currently says: “In deciding whether to grant or renew a licence, the Commission shall in addition to the requirements specified in sections 4 and 5, take into account … the necessity, if any, for the institution of quotas for the types and categories of businesses to be licensed and operated.”
“That is something that is being talked about in the business community and the public in general whether there should be a quota for certain types of businesses,” Vanterpool stated.
“We must be careful what we mean by ‘quotas for business’ and what it means for affecting business, for individuals who may have aspirations for doing business, and may be prevented from doing that business because of a quota. While it sounds good and it can be a good thing in a sense, it can be a bad thing in another sense,” the Fourth District Rep said.
Vanterpool used an example of a young entrepreneur returning to the territory to start a computer business but is rejected because of quotas.
“You might discourage a person who might have a computer business or what if it might be one who has gone to school and learned computers and all of sudden, he comes back and realises there can only be 10 computer licenses in the territory. What does that mean for me who is inspired to be a good computer engineer? Who says I can’t be the next Bill Gates on the block? And you are telling me that your quota is stopping me from doing business in the territory,” Vanterpool questioned.
“I’m not saying you don’t need quotas, but we need to be careful when we speak of quotas because it can sound good but have a negative effect and a discouraging and devastating effect on aspiring business owners, especially aspiring young business owners who want to come back and start a business,” Vanterpool continued.
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Pure old talk
The quotas are to protect the businesses of the ruling elites. Pure and simple. If they see a competitorComing they will use quotas to stop it.
The act gives the elite the power to reserve certain classes of business to themselves. I am guessing this will include casinos and marijuana.
Worse is the the act gives the ruling elite power to take over any business they feel like. There is no mention of compensation
When I say elite , I do not mean Belongers. I mean the governmemt , their cronies and their paymasters. The 12 or so families that control the place.
Do not assent to this Zimbabwe type legislation Mr Rankin.
As is said by Rubber Duck this bill and the Trade Act passed last year serve only the elite people who want to have it all.
This will set the country back forever. No one will want to invest here.
Vi will be stuck with hiding money in an ever dwindling number of companies, drug running and somw curious cruise ship passengers (until one is killed or injured) who leave with nothing but a bad taste in their mouths.
We need to move away from out current leaders and way of thinking and be open for opportunity for all.
is that EVERYWHERE in the world whether it be large nations or small island state; has a so called ruling elite. When it comes to BVI it is a problem or an issue? Not to say that it is right however this been going on and will continue all over the world. Problem is with some of these practices there is an economic imbalance.
Too many car rentals, too many food vans, too many safari buses, too many big trucks, too many wreckers, too many himacs, too many backhoes, too many water trucks, too many baby stores, too any day cares, too many churches, too many bars, too many beauty salons, too many powerboat rentals, too many apartments, too many taxis and I could go on and on
Too many barges too
The biggest problem is too many blacks. Add a little cream to your coffee. It’ll taste better. Not so sour. Lmfao
Why do you continue to post these kind of contribution? It is quite distasteful to say the least.
Too many charter companies not following the rules, too many short term rental properties not paying HAT; too many hair salons with unlicensed hair dressers handling hair chemicals; too many unlicensed electricians; too many unlicensed plumbers; too many contractors without proper certification and holding a trade license through a local fronting for them; too many vendors operating without a license. Anything else?
Market forces is what should control numbers, not some government minister who never ran a business in his life.
We know that many of the businesses you list are purely for money laundering. The act does nothing toprevent that, except that the elite might want to control the laudries themselves.
Competition give customers choices and generates quality, good customer service growth.
After all this grandstanding he still gonna vote for it
Lots of small to medium size business here are just struggling to survive because there are so many of them and not enough work, customers, clients to keep them profitable. The only hope was the lifesaver government contract but that easy rescue is gone now. So it’s sink or swim time for ALL private business in the BVI. Debating useless protective legislation won’t revive these dying businesses. Also obtaining the Guv’s assent for any draft legislation is another obstacle to overcome by the Unity government.
Mr. Vanterpool, the people who you suppose to be represeting in Road Town and Lower Estate areas don’t see or hear from you as a representative. You wanted back your position after you resigned but now you only on the pay-role for doing nothing. Gov Rinkin need to look into this because we are not getting value for money. If you don’t want the job you should not want the pay. That is called stealing
As for you, dish***st Mark for all them days that you aint work. They MUST be back tracked and deducted. That is a sign of robbing the government. No civil servant would get away with that.
No BVIslander should be required to obtain a trade license to operate a business. In most countries there is no discretionary trade licensing, if you want to open a business you can, you may need to pay a small registration fee but there is no “approval” to be given. I know several BVIslanders who have had their application turned down because they might be competing with a Big Person. Market forces should determine which businesses succeed or fail, not what your surname is.
Foreigners should be required to obtain a trade license, and it is reasonable that there is an assessment or quota system.
What about hotels with ‘indefinite’ concessions, hotel aid and pioneer status which should only be for a max of 10 years?
To many bleachers and not enough teachers..
Too many bulls**t all of you talkin. This islands is no more bored because of all those bussiness bar etc. And the hair salon makin all nasty woman to look a little better. So stop talkin sh..
Both those businesses you mention wash the most money!
Quotas should should only be relevant when considering foreigners(not residing in the territory). And it isnt just about car rentals, beauty salons etc. This is where BVI Islanders are oblivious; the law firms, trust companies, financial services business ownership dominated by foreigners and the trade department hands out licences with their eyes closed. While we continue to knock down one another these other persons are getting through without scrutiny.