Beautiful Virgin Islands

Saturday, Jan 28, 2023

Support small businesses, big ones don’t bank here - Smith

Support small businesses, big ones don’t bank here - Smith

Territorial At-Large Representative and Deputy Speaker, Neville ‘Sheep’ Smith has encouraged residents to support small businesses since big businesses bank in other places than the BVI, among other things.

Smith was at the time debating the Business Licensing Act which was later passed unanimously by legislators in the House of Assembly (HOA).

“What I’d like to do is encourage everyone in the BVI [that] you must always support the local and the small businesses,“ Smith said.

He continued: “The small businesses are what keeps us going here in the BVI. Most big companies do not bank their money in the BVI, they always bank their money away.”

Smith’s rationale was that small businesses tend to support other small businesses in the community, allowing money to circulate among residents.

“But the big companies, the most they going do is pay tax, and then leave. They will send their money somewhere else. But the small business is the one who continues to support us as we grow,“ Smith stated.

Help young people with their dreams

The first-term legislator also reflected on his journey as an entrepreneur and recalled that one of the first things he did was sell limes as a youngster.

“I could say look where I am today. I own a few businesses that are doing pretty well. I take a page out of Honorable [Mark] Vanterpool‘s book, Member for the Fourth [District],” Smith stated.

He urged residents to support young business owners and not just “watch them and pass them and shake your head”.

Smith said while a lot of people might have the funding to do so, some don’t have the financing to get their businesses started.

“We have to find some type of avenue that the young people could tap into to get financial support to help with their dreams,” he urged.


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