Rooted In Purpose: Surviving A Decades Long Economic Slump

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GRAND BAHAMA, BAHAMAS – Freeport Jewellers has been in Loren Madu’s family for five decades, but keeping the doors open hasn’t always been easy.

Still, she’s not one to give up, and says diversification has helped her survive a decades long economic slump.

Loren Madu – Owner, Freeport Jewellers

“I have also stepped a little out of the jewelry business and I went into a pub type business, so it’s a restaurant and bar, it’s called Blù,” she said.

Her newest venture is about creating joy, right at home.

“We want to try and create something that’s fun, where you could come and relax. You can enjoy a canal experience on your own island in your own country,” Madu said.

Loren admits stepping into a new industry hasn’t been easy, but it’s been worth it.

“…What saved us is that we have diversified into other businesses…,” she said.

That forced reinvention she says has brought new perspective.

Through every pivot and every challenge, she says she remains rooted in purpose.

“Business is hard work and I would say that if you want your business to succeed, you just have to keep going… You have to just keep trying all the different angles and at some point you have to know when it’s time to throw in the towel…[sic].”

“However you want to be hopeful because you are Bahamian, [and] because you’ve live on this island most of your life, you want to see what you do work because you’re invested here,” she said.

What keeps her going? She answered that it isn’t always clear but the will to rise is always there.

Even as she builds new ventures, Loren is using her voice to speak up for Bahamian entrepreneurs.

“[When] speaking out I realized a lot of other persons had the same issue and I was glad I said something,” she said.

To Madu survival isn’t just about business, it’s about showing what’s possible when you believe in your country, and in yourself.