Categorized | National News

New Incentives for Bed and Breakfast Resorts

The Prime Minister  Doctor Hubert   Minnis is encouraging more Bahamians to take advantage of the multi-million dollar industry of bed and breakfasts (B&B)  properties.

Speaking at the Bahamas Chamber of Commerce and Employers Confederation power breakfast yesterday  Dr.  Minnis spoke about some of the incentives that will come from owning a B&B.

For instance, if all the food items used at the B&B are 100 per cent Bahamian, there will be some form of tax reduction.

“This will help facilitate locals in food production matters. Once that is working efficiently,  individuals will probably announce that they would like to expand to lunch items and if those lunch items are 100% Bahamian they will be further incentivized; but if one thing on that plate is foreign you will lose it,” Dr. Minnis said.

On Monday in his national address he branded an extremely low housing programme as added encouragement to open B&B’s.

No details were shared on the price, size or location of these properties.

However, the Prime minister did say that first time home buyers will be given two years to build.

The housing program will be implemented in both New Providence and the family islands.

Written by Jones Bahamas

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