Labour Minister wants to simplify business startup process
Deputy Premier and Labour Minister Lorna Smith has promised to remove some of the hurdles preventing entrepreneurs from successfully establishing businesses in the territory.
“We will take action to demystify the business startup process; making it more accessible and less daunting for aspiring entrepreneurs [and] cutting red tape that gets in the way of so many of our business people,” Smith said in the House of Assembly recently.
According to the Deputy Premier, action has already been taken in this regard with a review of both the work permit and the trade licensing systems.
The Labour Minister said she has already held a first meeting with the Banking Association and promised to make this a quarterly event going forward.
“I will urge them to broaden their services for residents and local businesses, and I’m looking forward to seeing progress on those fronts,” Minister Smith said.
In the meantime, the Deputy Premier said she remained focused on bringing young people, including recent graduates into the workforce. Smith said she was also speaking with businesses about how they can be better trained, mentored, and motivated to fulfil their career ambitions.
“By investing in the growth and advancement of our people and importing only the skills we need, together we will create an environment where businesses thrive, individuals succeed, and the Virgin Islands prospers,” Smith stated.
The government recently announced a new initiative allowing authorised persons other than work permit holders to collect renewal work permits.
The government said the move was made by the Ministry of Financial Services, Labour & Trade to help streamline the work permit process, while ensuring compliance with established guidelines.
The aim of the initiative, the government said, is to make the work permit process more convenient for employers and their workforce, to enhance efficiency, and to improve the ease of doing business in the territory.
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Issue limited number of permits annually and do not issue new work-permits between the months July to October in order for our graduates to get the opportunities to be hired first hand.
You go Lorna work fot the country regardless to whidh isle you sit on Do not let party politids influence you . Work fot the people Dont be afraid make the difference
It’s all well and good to remove hurdles (why are they there to begin with?) to promote entrepreneurship. But no business can survive without employees. It’s helpful if they are literate, numerate, curious, and have at least basic critical thinking skills. These things can be taught at school. Ms. Smith should at the very least pressure those in charge of education for significant improvement. Otherwise, wasted time
The drug launderers are watching with interest.
The fact that you think the issuance of work permits are our problem shows you are completely clueless. The qualified BVIslanders that want to work are either already employed or running their own businesses. If there are any qualified BVIslanders not working it’s because they are waiting for a specific opportunity but not because they cannot find a job. Start a business, put an ad out for employees and see what comes in, then you would be singing a different tune. The BVI is in major trouble if we do not pay attention to our education system and overall training/attitudes of the young local population. Furthermore, there seems to be this idea that importing labour on work permits is a cheaper and preferred option for businesses, again, shows how clueless people are. It’s always cheaper and easier if businesses can find SUITABLY qualified candidates locally.
This woman is trying her best to do her job, unreasonable and politically/personally biased naysayers be damned.
You want a graduate to fill senior management positions? You want a graduate to captain a large vessel?
Sure, we should give the graduates all the opportunities we can. But your are speaking nonsense!
Limiting numbers of work permits is the dumbest thing, BVI does not have enough skilled people to do all the work that needs to be done. We need work permit holders otherwise you can go back to the dark ages.
I am wondering how they know when the documents submitted are original or real?? I overheard hear someone say that he/she took their documents and put the spouse picture in it and change the name and labour accept it. labour cannot know what is real or not so they should look into this problem.
Well what specific initiatives are you talking about for Trade department? I heard a whole lot about absolutely nothing! ideas?
Trade license applications take 7 days to be approved or denied or at least have a response.
Trade licenses can be issued pending evidence of other requirements like health clearance before actually opening.
Applications can be completed and paid for electronically.
Bring back the small business education, training and financial grant programme.
Properly fund the grant programme. $500k so 25 businesses each year can get up to $20k each if they complete the programme and meet the requirements. No payback but must hire more than 70% BVIslanders and maintain that for 2 years.
Wipe off ALL dormant trade licenses if not renewed every 3 years.
Identify And encourage angel investors that can be paired with young start ups for them to get funding for their businesses. Like a BVI shark tank.
Why are trade licences required? Why not allow anyone to set up a business and succeed or fail? The current system stifles competition and creates economic rentiers.
the dislike why?? are you guilty???