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Bahamian SMEs offered investment tips

James Hunt (pictured), president of The MITA Group, was in Nassau earlier in the year to offer advice to fledgling Bahamian businesses. 

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TheBahamasInvestor.com
Friday, June 29, 2012
Friday, June 29, 2012

Experienced investor James Hunt, president of The MITA Group, spoke at a Nassau seminar recently to advise Bahamian SMEs on how to attract investors and what to look for when investing themselves.

The businessman, who has founded and run four technology companies in the past two decades, said he looks at five criteria when determining whether something is a good investment: the product; the team; the market; whether it would be possible to get the product to market; and the valuation.


“The most important thing is to have a good team. If it is not coachable, I will not invest. I am not interested in an arrogant team,” he told attendees at the Global Trade and Financing Seminar, organized by the Bahamas Chamber of Commerce and Employers Confederation (BCCEC) and US Embassy.

Hunt also cautioned entrepreneurs that potential investors are looking for a straightforward valuation, saying: “Most entrepreneurs do not want to talk about that. They do not want to lose me and they want to maximize the valuation.”

He advised Bahamian businesses to look at what niches they could target to attract international investors.

“You want to look at things you think could get you into other markets,” Hunt said. “Is there intellectual capital here that could compete with other places? You need to arbitrage the talents of the island, of the economy and the people. There are certainly areas associated with financial services that you could possibly get a leg up on other markets.”

Hunt also warned companies not to search out investment unless it is necessary, saying: “If you can build your business organically, you do not want a guy like me. Our investors expect returns. If you are close to making it on your own, then it is not logical to take the deal we would put in front of you.”

cmorris@dupuch.com

A high-level delegation from the financial services sector in The Bahamas visited Geneva, Zurich and London this week as part of a Bahamas Landfall promotional campaign, organized by the Bahamas Financial Services Board. Pictured: Minister of Financial Services Ryan Pinder right, paid a courtesy call on His Excellency Paul Farquharson, Bahamas High Commissioner to the Court of St James at The Bahamas High Commission, while in London as part of the Bahamas Landfall delegation June 25, 2012 (see more photos after the jump).

Tourism Minister Obie Wilchcombe announced that the Bahamas Out Island Promotions Board will get a substantial increase in government funding to better promote the Family Islands. Watch a ZNS news report on the announcement.

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