Self-storage facilities in Freeport, Grand Bahama, are participating in a new program that allows individuals in specified trades to use self-storage as approved premises to apply for a business license.
Launched by The Grand Bahama Port Authority Ltd. (GBPA), the business-development initiative will help minimize the cost of starting a new business on the island. Facilities participating include Albacore Storage and Broncestone Self Storeaway.
Opened in 2000, Broncestone has 36 units and is managed by Pauline Hepburn. John Gallagher is the president of the 46-unit Albacore facility, which opened in January of this year. Both managers expect increased rentals as a result of the program and are considering expansion.
“This initiative provides a good opportunity for reduction in overhead expenses for certain business categories,” said Derek Newbold, GBPA’s business development manager. “We are cognizant of the current economic climate and will continue to seek out initiatives that can provide some level of relief to small businesses.”
Source: Bahama Islands Info, GBPA Makes Business Ownership Easier