Would A New Public Holiday Be Bad For Businesses?

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NASSAU, BAHAMAS – Chamber of Commerce CEO Dr. Leo Rolle is not a fan of the suggestion to add another holiday to the calendar year.

Progressive Liberal Party Chairman Fred Mitchell proposed that the government make the birthday of Sir Lynden Pindling, or a nearby date, a national holiday.

While the proposed holiday might sound good to many, the business community has expressed concerns.

Rolle acknowledges the significance of honoring the nation’s builders but warns that introducing another holiday could further strain the already challenging economic environment for many businesses in The Bahamas.

Dr. Leo Rolle – CEO, Bahamas Chamber of Commerce and Employers Confederation
“That’s one less day of productivity because the business cannot operate. If the business is open, they then have to continue to pay that staff member or the entire staff for overtime. And so there’s an added or an incurred cost to this.”

The Chamber points out that The Bahamas currently ranks among the top three countries in the region for the highest cost of living and has the highest number of public holidays.

While he thinks honoring national heroes is commendable, the Chamber of Commerce president cautions that economic realities must be considered.

Dr. Leo Rolle – CEO, Bahamas Chamber of Commerce and Employers Confederation
“When you think about an increase to NIB, an increase in minimum wage, an increase in shipping and logistics, an increase in import duties, and the added layer for inland revenue relative to accountants, all of these aspects are already coming against the productivity or the profit of the business.”

Dr. Rolle stresses that any measures that further hinder the business community will be met with resistance from the Chamber.

The focus, he argues, should be on improving productivity rather than adding more holidays.

Dr. Leo Rolle – CEO, Bahamas Chamber of Commerce and Employers Confederation
“People want to stay home. They love the excitement of an extra day, but if there are no businesses to pay you, you’ll be home for seven days, not just an extra one.”