BVI News

Reduced trade fees not necessary for young entrepreneurs

Government legislator, Shereen Flax Charles.

Junior Minister for Trade Shereen Flax-Charles has said she doesn’t see the need to implement cheaper trade licensing fees for the BVI’s young entrepreneurs who are below the age of 30.

The question was raised earlier this week at a public forum to discuss new trade legislation being spearheaded by the government.

In answering the question, Flax-Charles said she believes many of the young entrepreneurs will be able to afford the stipulated trade fees to formalise their business.

“I would not necessarily say that the fees would be any less because right now, I can tell you that we have some young entrepreneurs under the age of 18 where the parents have to be on the licence from a legal standpoint,” Flaxx-Charles stated.

“And I’m sure a lot of them will tell you, there’s no need for them to pay anything different from what an adult over 30 is paying. I can guarantee you that some of them are rolling in the bucks, because we have some brilliant young people out there now that are going to be the future of business for the BVI,” she added.

Youth Entrepreneurship Strategy

Under this new Business Licensing Act (2020), Belonger licence fees would range from $150 to $1,500 — previously $25 to $200. This is regardless of the age of licensees.

Despite no plans to reduce trade fees for youngsters, Flax-Charles said there are plans to develop a Youth Entrepreneurship Strategy to boost local talent across the BVI.

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  1. Know your people says:

    She’s right. Why discriminate against older persons. Young or old we ate all equal. The young people of this country don’t want special favors. They want opportunity

    Like 7
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  2. heckler says:

    The VIP government is not business friendly…They are clueless, headless and planless.

    Like 17
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  3. Political Intelligence says:

    This government is raising fees left right and center, especially in a depressed time like this is unacceptable. The fee increases in the new business licensing act will dam the entrepreneurial spirit of people with little starting capital. Monies that could have otherwise went into the business, the A. Fahie led administration now wants to take it.

  4. 2cents says:

    Remember when you want less of something tax it or charge fees. Is that the goal?

  5. SMH says:

    Worst government in HISTORY! Nobody knows what the hell they are doing, completely clueless and talking pure s**t instead of seeking advice from those that understand. We have a Jr. Minister of Trade and a Jr Minister of Tourism who are mostly mum during this entire COVID disaster where the economy and tourism is upside down but nobody says anything because it’s the big bad VIP.

    Like 5
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  6. Hmmm. says:

    My 4 at large vote… Ronnie, Myron, Carvin, One in reserve wait watch and sea…Decastro too soft, not my vote this time..

    Like 3
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  7. Rubber Duck says:

    No successful economy has trade licenses, trade commissions, government taxes on starting a business, government interference, the worlds worst run 18th century bureaucracy and a government full of people who have never run a business.

    Third world here we come.

  8. Stupidness says:

    No one can afford this BS regardless of age. Raise fees and taxes while you shut everything down. nonsense.

  9. Bad politicians says:

    She is one of the w**** politicians in the world…She should make some search before launch any act or open her mouth.

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