All Guyanese must tap into economic space-Gaskin

By Ravin Singh
ACCESS to Guyana’s economic space, which facilitates an engine for development through commercial activities must be available and enjoyed by all Guyanese, says Minister of Business Dominic Gaskin.

He was at the time speaking at the opening of the inaugural Small Business Exposition which is being held at the Sophia Exhibition Centre, under the theme: “Guyanese Products and Services: Our gateway to the good life.”
The three-day event which was birthed out of intense discussions among several stakeholders in both the private and public sectors is an alternative for small business, given that the annual mega event–GuyExpo-was deferred. According to the minister, the concept of the business expo which is hosting over 300 small businesses is to have a business-oriented focus rather than an entertainment one, though the role of entertainment would not be neglected.
The event which is a targeted measure, as was described by the minister, addresses two of the main goals around the Ministry of Business, around which its five-year strategic plan is crafted. These, according to him, include; to support the development and exports of value-added industries and to increase the economic opportunities and capabilities of vulnerable groups.

With confidence, he boasted that the event presents a real opportunity for small businesses to have access to a volume of customers over the three-day period that they will not ordinarily encounter in an entire year of business. This, the minister said, allows these businesses to showcase and sell their products, while allowing them to get valuable feedback that could be used to improve these products. Additionally, for the many small businesses that rely heavily on word-of-mouth recommendations as a means of advertisement due to financial constraints, the expo provides the opportunity to get the word out, he added.
Not limited to being an exposition, the event which attracts like-minded individuals from diverse communities provides an opportunity for small-business owners to network; government to expose its policies and plans for the sector; credit facilities to explore new and less burdensome ways of providing financial access; and for the sector to further integrate itself and contribute to the economic, political and cultural development of the country.
Included in the agenda of the Small Business Expo are a number of workshops in targeted areas, including: procurement procedures, tender board procedures, digitising businesses, financing businesses, entrepreneurship, effective trade fair participation and marketing through film.
Proud of what this maiden initiative has produced, Minister Gaskin expressed that, “I was very happy to see the exhibits and the types of services being promoted here today,” adding that the diversity which is the hallmark of this event, is quite encouraging. “We would like to explore the further development of this event to see whether it can become an effective measure in encouraging broader participation in profitable economic activities” he said.
Noting that access to Guyana’s economic space must not be discriminatory in terms of age, gender, ethnicity or community, he offered, in no uncertain terms, that this space must be available and enjoyed by all Guyanese.
In light of this, the role of a vibrant private sector was underscored, as he highlighted how imperative it is for that sector to partner with government to ensure economic development.
However, what was deemed as a successful event on its first day, given the response from consumers and the level of participation from corporate Guyana, the realisation of this monumental task was not without challenges.
In fact, President of the Guyana Manufacturing and Services Association (GMSA) – the main partnering entity in organising the Expo – Clinton Williams, whose remarks preceded those of the minister, revealed that the first challenge was to make a key decision on the hosting of such an event, given the available time, resource constraints and the need to ensure consistency of the highest standard associated with GuyExpo’s brand.
The second challenge, he said, was the assumption that many of the potential exhibitors have been traditionally using these opportunities that GuyExpo provides to boost their year-end sale. This is in light of the fact that Guyana’s economy has experienced a downturn this year. However, constructive engagement and fruitful discussions aimed at providing alternatives for the benefit of the small-business sector, led to the “inescapable” realisation of such an undertaking, he said.

Room for small businesses
Weighing in too on the importance of the event to Guyana’s economic development was Acting President Moses Nagamootoo, who reasoned that the examination of large businesses would lead to the recognition that they were birthed out of small businesses.
As a result, he supported the notion that even in the midst of large, flourishing businesses, there is always room for small businesses, given their diversity. He also revealed that government has been pushing an agenda to further integrate indigenous peoples and women into the economic sector, through small-business development.
And while he acknowledged that a business responds to a need for a profits, he is of the firm belief that these businesses help countries to grow. “A small business person has an advantage to be a patriot who can contribute to growth and development of country, even as they themselves develop” he said.
Apart from the routine speeches, the opening ceremony was punctuated by cultural items including dancing, poetry, singing and acrobatics. The highly anticipated fireworks which were enhanced by the pitch-black sky followed the official ceremony.
Featured at the Expo are a number of small businesses, including: the Guyana Agro-processors Association; Guyana Aquaculture Association; Guyana Arts and Craft Producers Association; Guyana Beekeepers Association; the New Guyana Marketing Corporation suppliers; as well as fashion designers, tourism operators and the small-grant recipients.
While regional and international businesses will participate in the exposition, they will not exhibit but rather operate as buyers and investors.
The Small Business Expo is being sponsored by Republic Bank, Digicel Guyana, Toolsie Persaud Limited, BK International Inc., Pomeroon Oil Mill and Trinidad Cement Limited.