Of course this sounds wonderful. A benevolent government going to take tax dollars from one group of people to help another open a business. How magnanimous he says with tongue in cheek. No doubt there will be taxpayers that think this is a wonderful idea.
A few questions come to mind:
Has the government taken stock of its track record with programmes like this?
What has the total "investment" in start-up enterprises by the government of The Bahamas?
How many businesses have been funded from tax dollars? How many have succeeded? How many have failed? How many have paid their loans back?
In other words has a proper cost benefit analysis been conducted?
Now this does not dispute the need for venture capital but I submit it should be done through private means.
Maybe individuals can buy shares in a venture capital fund or the like to help entrepreneurs or even give funds directly to a start up that they think is a worthy investment.
Nothing is easier than a government using other people's money to "invest" in a new venture that by definition is risky. Funded by government tax dollars they set more politically constructed moral hazards in play.
