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News : Grand Bahama Last Updated: Feb 13, 2017 - 1:45:37 AM


New Consultancy Firm Reaches out to the Grand Bahama Community
By The Maven Group
Jan 19, 2015 - 10:30:16 PM

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Visionary Business Consultants, Limited (VBCL) located in the GB Complex at Bank Lane and Pioneer’s Way (Immerse Shared Space) recently opened its doors and the company is already giving back to the community. Specializing in accounting, bookkeeping, property management, corporate, outsourcing and recruitment, the company presented 11 local businesses with complimentary registrations for the upcoming ‘VAT & Small Business Seminar’. On hand for the presentations were (left to right): Natalie Coakley, VBCL Office Assistant; Bonnie Culmer, Brad’s Car Rental; Brian Bullard, Complete Business Systems; Eleka Hanna, Immerse Bahamas; and Tiffany Smith, Clearview Glass & Window Repair. Other recipients include: Compusec Printing & Party; Agave; C&G Airconditioning; T’s Perfume Depot; Long Island on Da Hill; The Village Sporting Lounge; and Frank’s Ice Cream. For VAT enquiries and other services, interested persons can contact VBCL at 602-5602.

Freeport, Grand Bahama Island - ‘Creating a vision to make your business successful’ is the mission statement of a new consultancy firm on Grand Bahama Island. Remaining true to its motto, Visionary Business Consultants, Limited (VBCL) which recently began operating in downtown Freeport, is already offering much-needed assistance to business owners.

As part of its services, VBCL specializes in accounting, bookkeeping, property management, corporate, outsourcing and recruitment services. Additionally, with the introduction of Value Added Tax, the company is capable of serving as an official VAT representative, or liaison between businesses and the VAT Department.

According to company spokesperson, VBCL office assistant Natalie Coakley, “with the implementation of VAT, it became evident that some micro, small and medium sized enterprises were not prepared to meet the challenge as it relates to its impact on their relevant business and accountability with respect to the details of what should be captured for reporting to the VAT Department as well as how their records should be maintained.”

Therefore, VBCL wanted to do its small part by sponsoring 11 businesses to attend this week’s ‘VAT & Small Business Seminar’, slated to be held at The Grand Bahama Chamber of Commerce on Thursday, January 22nd.

“On the whole, when a new policy is adopted, there will be the usual fears and misconceptions,” Coakley added. “These seminars will hopefully bring light and clarity to those misconceptions and place the attendees in a perfect setting to glean the correct and appropriate knowledge in addition to gathering amongst other attendees who are experiencing the same challenges where they can feed from each other.”

Whilst presenting the complimentary seminar registrations to the appreciative recipients, she encouraged other members of the business community to take part in the invaluable 90-minute sessions scheduled for 9:30am and 5:30pm at The Chamber of Commerce, so as to transform their mind set and chart their course forward.

“We encourage persons to register for such events and also to contact us with their VAT enquiries,” she said. Some businesses are confused as to whether they should be maintaining a separate bank account to hold the taxes collected on behalf of the Government amidst learning a brand new point of sale system that may have been implemented because it was recommended that this was required to account for these transactions. Visionary Business Consultants, Limited can provide the necessary consultation required to ease those fears as to whether or not a separate bank account should be maintained, how records should be kept for future possible audits by the VAT Department and the oversight of business processes to ensure complete compliance.

Along with providing assistance for business owners, prospective employees are also encouraged to take advantage of VBCL’s services as the company is actively engaged in building a complete database of applicants interested in registering for future full-time or part-time employment. The database will be available to potential employers who are seeking to fill various positions.


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