– One-Stop Business Conference hears

HUNDREDS of business-oriented Afro-Guyanese turned out to a free One-stop Business Conference on Wednesday to learn how they could position themselves to thrive in the business sector.

The event was hosted by the International Decade for People of African Descent Assembly of Guyana (IDPAD-G), in conjunction with the African Business Roundtable (ABR) and the Nile Valley Economic Community (Nivalecom).

It took place at the Critchlow Labour College auditorium, which could have scarcely accommodated the large number which turned out.
The small-business owners and self-employed had the opportunity to meet and pose questions to several representatives from agencies critical to business ventures in both the public and private sectors.

Some of the agencies present included the Small Business Bureau (SBB); the Guyana Revenue Authority (GRA); commercial banks and credit unions; the Commercial Registry; Lands and Surveys; the Institute of Private Enterprise Development (IPED), the Central Housing & Planning Authority (CH&PA), the National Insurance Scheme (NIS); the New Building Society (NBS); and representatives of the Ministries of Finance, Agriculture and Natural Resources.

Delivering opening remarks, Chairman of IDPAD-G, Vincent Alexander, told the gathering that the time is now for African-Guyanese to change their setbacks in the business sector through knowledge-sharing.

“We know that one of the areas that African-Guyanese have been disadvantaged is in the area of business and we have got to repair that. We have got to fix that during this decade. We are hoping that today’s activity is a small step in that direction…. What we’ve done today is to bring you together, to share with you the knowledge of what are essential requirements if you’re going to be engaged in business,” he said.

Alexander made it clear that the event was not one to distribute funds, but rather to educate Afro-Guyanese on how they can best position themselves to acquire such.
“Today you’re not going to get loans, today you’re not going to get grants, but today your eyes are going to be opened to the possibility of loans, to the possibility of grants.
“We are saying to you, today, that we are committed to working with organisations and with the government to make it easier, hereafter, for you to get grants and for you to get loans, because that has been a major obstacle for African businesses,” he said.
Meanwhile, President of the ABR, Eric Phillips, encouraged the audience to be aware of their Afro-economic heroes both locally and abroad, referring to the race as the “world’s first business people.”

NOTHING NEW
“Economic power is nothing new to us. We’ve been deprived of it for a lot of reasons and during this decade we need to come together and create economic wealth, not just economic wealth, but generational wealth,” he challenged.

He also urged the public to prepare for Guyana’s oil economy by branching out into new markets and “to work in clusters” to achieve even more.

“We have to look within this oil economy, we have to look within the existing economy and create our own vision. Too many of us are growing the same things, too many of us are doing the same things, that cannot create wealth,” he said.
He added: “We need to work in clusters, too many of us are working individually, we can’t do that. Our culture from the village movement is about working in corps, working collectively.”

Addressing the conference too was SBB Chief Executive Officer (CEO) Lowell Porter, who told the gathering that while grants have been exhausted due to the completion of recent projects, the bureau is still making itself available to provide assistance in helping businesses to acquire loans.

Porter said there are only two banks, one locally owned and one internationally-owned, which support the SBB and, as such, called for the government to be involved in the push for a change in this tide.

“We only have two banks that said ‘we will support the small businesses’… maybe the government should make it that in some way when these banks come to operate in Guyana, [ask] how many of them are interested in supporting small businesses. We have to push that agenda,” he said.

The CEO also used his time to promote the services available at the SBB and encouraged those present to visit the office to know how they can be assisted in any way.

Speaking too was head of Nivalecom, Patrick Zephyr, who informed the gathering about the organisation registered in July 2018 to serve as a bridge for Guyanese to access business services and benefits.

In his remarks, he said the black community is still “haemorrhaging money” which ought to be circulated throughout communities for their benefit.

“The black community is haemorrhaging. It is losing money all the time. When money comes into this community, it passes through, it is not staying there and circulating and developing and strengthening the community,” he stated.

Zephyr said this would not change unless Afro-Guyanese learn to work together to support themselves, their businesses and their communities collectively.
GRA representatives, the Commercial Deeds Registry and Citizens Bank also addressed the attendees, giving them information on how to become compliant, register their businesses and acquire loans.

As the opening ceremony concluded, clearing the way for the public to visit the various booths available, the Guyana Chronicle spoke with a few persons who came out to the event.

They suggested that the next conference be held at a larger venue and more information be provided on the acquisition of loans and grants.

Meanwhile, others commended the initiative as one which would assist them in launching their businesses and forming joint partnerships with others for greater profits.
The conference is one of three to be convened in the country, as the second will be held in Linden on Saturday, July 28 and, the third, at Rose Hall in the coming week.