…at launch of Venture Out! programme
HUMAN Services and Social Security Minister, Jennifer Webster has urged participants of the Venture Out! programme for women entrepreneurs to see themselves as agents of change, as they are part of empowering a generation of micro-entrepreneurs to achieve their dreams. She delivered the feature address Wednesday at the opening ceremony of the Venture Out! programme for women entreprenuers 2012, which saw an evaluation workshop in the National Library Conference Centre at Church Street, Georgetown on the success of the participants of the Venture Out! programme, instituted between 2010 and 2011.
The Venture Out! programme is a collaboration between Empretec Guyana and Republic Bank Limited. It has a strategic focus on developing entrepreneurship among women.
The collaboration started in 2010, and to date, approximately 300 women from Regions 2 (Pomeroon/Supenaam), 4 (Demerara/Mahaica), 6 (East Berbice/Corentyne), 9 (Upper Takutu/Upper Essequibo) and 10 (Upper Demerara/Upper Berbice) have participated in the programme.
Given the success of the Venture Out! programme, Republic Bank agreed to collaborate with Empretec Guyana for the third successive year. However, this year’s focus would primarily be on evaluating the success of the initiative.
The evaluation sought to determine how successful the participants have been in their businesses, after completing the Venture Out! programme over the past two years; and strategically focused on highlighting new business strategies that were implemented, or an existing one which, when modified, ultimately improved the operations and profitability of the business.
At the forum, participants were encouraged to also share some of the challenges that they had or are experiencing, and the methods that they used to overcome them.
Facilitators were on hand to provide technical guidance to help the participants to rise above their current challenges.
Minister Webster applauded Empretec Guyana and its partner, Republic Bank, for facilitating such a programme, and for it being one which is aimed at facilitating the empowerment of women entrepreneurs. She noted that participants were drawn from various regions of Guyana, and the training programme and workshop were intended to promote greater entrepreneurial awareness and support the empowerment of women.
Webster also said the programme would serve as an opportunity to provide guidance, and assist the entrepreneurs to focus on key business development issues, such as financial management and business ethics.
The programme will last for four months, but it must be seen in the context of an initiative which will equip the entrepreneurs with the requisite skills, and enable them to manage business ventures in a more efficient manner, thus “enabling you to be able to earn a livelihood, thereby providing for yourselves and your families as well.”
Whilst women face a number of challenges in balancing their lives with their careers and roles and responsibilities within the family, Webster said, it is important to note that “here in Guyana, our women are now afforded an equal opportunity to support and develop themselves in their respective fields”.
“I charge all of you to see your role here as agents of change. You are part of a generation of micro entrepreneurs who can contribute in a meaningful way to the economy of our country and our country’s national development, whilst achieving your own personal goals and aspirations,” she stated.
Minister Webster said women are consumers, and must also be recognised as a key target for micro-enterprise.
“The Government of Guyana is convinced that engaging the private sector is a key strategy to unlock women’s potential,” she pointed out.
She said the Ministry of Labour, Human Services and Social Security has undertaken a number of similar initiatives to support the economic empowerment of women.
“We have a number of programmes such as these which are aim to support our women, especially single-parent women; and one such programme is the Women of Worth (WoW) programme,” she underscored.
When women are empowered and have the ability to earn an income, she said, they are able to sustain themselves and invest in their families, and the effect of this can be seen in the context of poverty alleviation and reducing malnutrition, thereby enabling a more healthy and educated population in society.
The Human Services Minister maintained, “This is good for all of us, and that is why the role of business in any society must be seen as a catalyst in any country’s development.”
She said government sees the need to support women and to expand benefits and services afforded to them so that they, too, can contribute to national development.
“The effective management and development of women’s resources, their abilities, interests and skills, are of paramount importance to the mobilization and development of our human resources,” she stressed.
Women, she said, are indeed a major part of the workforce of the country, and “empowering our women will be a major step in enhancing economic and industrial growth”.
“Women should be bold and gather as much knowledge and information as they can, and strive to excel in their respective fields. By doing this, you can become independent and confident, so that you would be able to lead a decent life,” she encouraged.
“Whilst women face a number of challenges in balancing their lives, it is important that they be afforded equal opportunity to support themselves and to develop themselves in their respective fields,” she stated.
“I charge you to see your role here over the next few months as agents of change, as you are part of empowering a generation of micro entrepreneurs to achieve their dreams, and to lay the ground work for future growth of micro finance in Guyana,” she stated.
“The skills you will develop through this project will no doubt enhance your contribution to the productive sector, and I would like to encourage you to stay the course,” she said.
Also, she reminded that women live in a globalised world where Information Communication and Technology (ICT) has become an integral part of people’s daily lives, and she encouraged them to ensure that they take advantage of the training opportunities, especially in the area of ICT.
She extended government’s appreciation to Empretec Guyana and to Republic Bank for the innovative programme, and wished the participants success in their future endeavours.
Empretec Guyana Managing Director, Ms. Judy Semple-Joseph, in welcoming remarks, said there is much to celebrate when it comes to the progress women entrepreneurs have made. However, there is still much work to be done in a number of areas in order to make it easy for women to compete and succeed.
Venture Out!, she said, is a programme that has been designed by Empretec to make its contribution towards the empowerment of women entrepreneurs in Guyana.
She pointed out that the participants were among the elite group of women who have recognised the value of investing in “your own business and its growth”.
Semple-Joseph said research in the global Empretec Network has found that only a mere 20 percent of participants who do a particular programme engage in the follow-up activities.
“I think in our estimation there is always need for follow-up, there is always need for keen support and guidance; and those women entrepreneurs who are successful always underscore the need for support,” she stressed.
She said the Venture Out! model continues to evolve, adding that “the programme was redesigned to cater for your needs, and to investigate how further we can help you”.
She disclosed that 30 persons had already registered for the new Venture Out! programme for 2012.
“We are highly appreciative of the work and the support we have been receiving from Republic Bank, and I think (that) without their support we would not have achieved the successes that we have (achieved) today,” she expressed.
Senior Small and Medium Enterprise (SME) Officer, Commercial Credit, Republic Bank (Guyana) Ltd., Mrs. Debra Yan, said one of the areas the bank has been placing increasing importance on is the “education and empowerment of customers”, as well as potential customers.
She mentioned their online developmental tool for SMEs – the ‘SME Toolkit Caribbean’, as a means of inspiring local entrepreneurs to greater success.
She said the bank noted that the core needs and opportunities for women entrepreneurs differed from those of their male counterparts, and saw an opportunity for bridging the gap, “so that women entrepreneurs with potential can be empowered for the level of success we are confident they can achieve”.
Yan said global studies have confirmed that, gender wise, women who benefit from similar micro-financing arrangements have proven to be more successful in business than their male counterparts, and have demonstrated an excellent repayment record on their loans.
“Venture Out! 2012 is geared towards supporting a group guaranteed to succeed, given the global trends. We will focus on the development of that entrepreneurial spirit; we will also provide positive community linkages and, in part, some business practices, so that you can leave this programme with increased knowledge and skills for an enhanced quality of life,” she outlined.
She took the opportunity to encourage participants to use their free online resource – the SME toolkit — for further skills development.
Deputy Resident Representative of the United Nations Development Programme (UNDP), Ms. Chisa Mikami, delivering remarks, said UNDP was very pleased with the work being done by Empretec with respect to the Venture Out! programme.
Throughout the world, she observed, women make a vital contribution to industrial output, and UNDP is committed to sustainable entrepreneurial development as a means of achieving economic prosperity and a healthy environment.
The Venture Out! programme is designed to provide target participants in the respective regions with the relative tools/machinery to become fully empowered and assertive in their goal of getting out of poverty. This empowerment exercise is done through mentorship and coaching, which are intended to help build self-confidence among participants, thereby promoting entrepreneurial awareness and determination.
It is expected that the development of this entrepreneurial spirit will promote positive linkages in the community, such as sound business practices and an increase in participants’ standard of living. The main aim of this Venture Out! programme is to enhance the quality of life of participants through increased knowledge and skills, through a mentorship programme done by successful peers.