Categorized | National News

Big Investment For Small Businesses

Three entrepreneurs got some much need financing for their budding businesses.


Investment group Bahamas – a subsidiary of Bahamas Striping Group of Companies– gave an investment to Quincy Rolle of United Data Technology, Kadar Whyms of KW Paving and Darrius Johnson of Global Energy Solutions.


Rolle plans to create what he calls a smart city app that would actually make it possible to report potholes, downed power lines and more.


“The smart city app can work along with any other system, but I can guarantee once its implemented it will be the go to solution, because there are levels of accountability set up directly in the application. From the moment you use your mobile phone to take a photo of a pothole, you submit that to the government it is then received by a representative who has to acknowledge receipt. Once the work has been forwarded and fixed, the person who submitted the request gets notified that their compliant was solved,” Rolle said.


Rolle and Whyms are also working together on an app that will help road works.


Johnson said his company will focus on lighting and energy solutions for not just New Providence, but the family islands as well.


“ I want to get the solar cat eyes and other solar lights in the family islands. What I noticed at night in the family islands is at night you can hold your hand in the front of your face and can’t see it. Illuminating the streets can save lives,” Johnson said.


Felix Stubbs, chairman of the investment group said they’re committed to investing $1 million dollars a year into small businesses.


That money will be split between at least 20 entrepreneurs based on the level of investment needed.


Stubbs said there are no limits on who the company will invest in, however they are looking for innovative businesses.


“When you look at the companies we’re investing in today, we’re talking technology, construction and solar. Those are the kinds of things we think will be beneficial to the Bahamas so those will have the advantage but there are other things that people can do. If we find someone with an idea that $10,000 can help them do something that can be successful , we may want to consider that,” Stubbs said.


There are 7 levels from application to investment and the company vows to stick with their investees to ensure profitability.

Written by Jones Bahamas

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