Bahamas - Business Customs Bahamas - Business Customs
- Business Customs: The national language is English. Due to the proximity of The Bahamas to the U.S. and the extensive familiarity of most Bahamians with Americans and American culture, business customs tend to be similar to those in the United States. Business dress is formal. Business suit and tie are recommended for men and conservative business dress for women. Bahamians shake hands upon meeting, sometimes exchange business cards, and address first-time business acquaintances by their last names. Conversations generally move to a first name basis a bit more slowly than in the United States.
- Top-down decision making: Decision-making is usually done at the highest levels and middle-ranking government or business officers may not have authority to make commitments but will require approval from more senior officials.
- Financial dealings: Bahamian businesses tend to operate on a tighter financial margin with significantly less favorable access to credit than their American counterparts.. Therefore, for initial or large sales, a businessperson should require a deposit against future payment for goods or services delivered, and expect delays to occur with subsequent payments.
- Appointments: Firm appointments for business meetings are advisable. Business lunches are preferable to dinners in The Bahamas. Bahamians tend not to drink very much at business lunches and usually expect the lunch to last between an hour and an hour-and-a-half.