– focus on education an imperative shift – IPED’s Executive Director
THE Institute of Private Enterprise Development (IPED) was lauded for its focus on education which was described as an imperative shift as 46 students last Friday were recognised for their academic achievements in the United Kingdom’s Institute of Commercial Management (ICM) courses offered by IPED.

Executive Director of IPED, Dr Leslie Chin, noted too that while the national development institution provides business development services, it is also important for emphasis to be placed on the improvement of the entrepreneurs.

The IMC is a leading professional body for Commercial and Business Development Managers and is an internationally recognised examining and awarding body for those undertaking pre and post degree level business and management studies.

The IMC also benefits from full recognition by regulators of external qualifications in England, the Office of the Qualifications and Examinations Regulator.

The partnership with the ICM commenced in October 2007 and then approximately 101 students were registered. Presently there are close to 2,000 students registered with the programme.

Chin, in reiterating the importance of the partnership with the ICM, said, “Improving their knowledge base complements the loans that we give.” To this end, Chin added that IPED efforts are geared towards developing the entrepreneur in a holistic manner.

He said a holistic approach is being facilitated through IPED’s Entrepreneurial Development Centre (EDC).

The EDC is a complementary service whose purpose is to improve the chances of the entrepreneurs succeeding through the provision of Business Development Services.

The Centre targets both micro and all entrepreneurs and facilitates training using a participatory methodology.

According to IPED, the EDC’s intervention is expected to ultimately see successful business clients, which will be measured by: significant poverty reduction; successful micro and small entrepreneurs with increase profits and number of employees; significant contribution to the economy as measured by the increase in the Gross Domestic Product; increased exports of non-traditional products; gender equity – an increased number of women accessing loans and being successful in business; Amerindians accessing loans; and a significant increase in the number of youths being involved in business.

Dr Chin observed that the efforts of the EDC to place emphasis of the pursuit of higher education are integral to the overall development of business operations.

CHARGE
He also charged the gathering of entrepreneurs to use new skills and look into non-traditional activities that will make an impact on the economy.

“Guyana has the potential and the human resources to develop,” Chin asserted.

To this end, he cited the emerging aquaculture sector for investment and said the sector has the potential to contribute significantly to the economy.

The Executive Director urged the entrepreneurs to take full advantage of opportunities that see Guyana with a large comparative advantage.

Chin also extended his congratulations to the individuals on their academic successes and urged them to aspire for greater things.

On the note of success, the Entrepreneurial Development Manager, Mrs. Carlotta Walcott, pointed out that all the EDC’s programmes saw passes.

She noted that Advanced Project Management saw 92 per cent passes; Project Management saw 85 per cent; Advertising saw 33 per cent; Business Law saw 57 per cent; Business Management and Administration saw 92 per cent; Human Resource Development saw 94 per cent; Human Resource Management saw 100 per cent; International Business Communication saw 69 per cent; Marketing saw 75 per cent; Numeracy and Statistics saw 90 per cent; Office Procedure and Administration saw 50 per cent; and Public Relations saw a pass rate of 30 per cent.

Walcott which acknowledging the hard work and dedication of the students expressed appreciation for the faculty of 12 professional business practitioners.

“I can say without contradiction that the faculty and administrative staff go beyond the call of duty to ensure we sustain our competitive advantage,” she said.

The Entrepreneurial Development Manager announced that in January a Diploma in Legal Studies will, for the first time, be offered.

Additionally, Walcott said February of the same year will see the institution offering a Certificate in Commercial Studies, which is specifically targeted to early secondary school leavers who are seeking qualifications in order to enhance their employment prospects.

“This programme is for those who need a foundation qualification in business studies in order to enable them to progress to higher business and management programmes,” Walcott explained.

In this regard, she added that the course content provides students with a comprehensive overview of business, introduces them to economic theory and also provides knowledge about the manner on which business operate, formed and structured.

She said, “The course introduces students to business documentation, bookkeeping, accounting and business communication.”

Walcott also expressed her appreciation for the confidence of organisations that have partnered with the institution over the years.

Among IPED’s partners are Guyana Oil Company, Ministry of Tourism, Guyana Lands and Surveys Commission, Guyana Energy Agency, Georgetown Public Hospital Corporation, Sterling Company, Beharry Company, Central Planning and Housing Authority, the British High Commission and the Guyana Sugar Corporation (GuySuCo), among others.

IPED is a company registered as a not-for-profit and limited by guarantee institution.

Objecting to promote development and growth of micro, small and medium sized businesses, IPED provides supervised loans and Business Development Services to groups and individuals countrywide.

The mission of the institution is to promote the growth and development of economic activities designed to improve the social and economic welfare of the people of Guyana through the provision of business guidance, technical assistance and non-traditional credit facilities to micro, small and medium sized entrepreneurs.

In this regard, IPED’s goals include: the development of a national culture of entrepreneurship; the provision of technical and managerial support services through training and counselling to all loan beneficiaries; the provision of timely financing to micro, small and medium sized businesses in all geographical areas to enhance their production potential to supply both local and foreign markets; and networking with organisations providing complementary support servers to communities in order to effectively develop micro entrepreneurs throughout Guyana.

In Guyana, IPED is the leading institution in providing financial and non-financial services to the neediest sector of the economy, which includes the underprivileged, micro and small entrepreneurs.