OVER 200 women-owned start-ups that took the bold step to go into business received $16 million in funding from the Ministry of Human Services and Social Security (MHSSS) through the Guyana Women’s Leadership Institute’s, Women Innovation and Investment Network (WIIN) business incubator.

According to the MHSSS, in a press statement, the initiative, reflecting a partnership between the Ministry and the World Food Programme, identified participants who first completed a WIIN training course before utilising the WIIN in the business workshop.

Following this, the beneficiary completed and submitted their business plan, which included a complete cash flow projection and details on how they would develop their business through the business incubator’s services.

Over 700 persons were contacted and guided on completing the qualifying criteria from Regions Two, Three, Four, Five, Six and 10.

A total of 216 cash grants were distributed totalling $16.2 million. Of this number, 157 new businesses were registered, with 39 renewing their registration and 20 having valid registrations.
“The entire concept was focused on making women win, win for themselves, win for their families, and win for their future. I want to create a level playing field for you so you can utilise the skills here to capitalise on all opportunities,” Minister of Human Services and Social Security, Dr. Vindhya Persaud, said.

She noted that when WIIN was conceptualised, it needed to be accessible and inclusive, which meant there were little to no requirements to enter the programme, and she was passionate about that because “no woman should feel this programme is so far away from her that she can’t get into it.”

Minister Persaud added: “I want to congratulate all of you for taking the opportunity and entering the programme, you need to take what you learnt from this programme and invest in yourselves, and we decided to take this cash grant and tailor it towards a business that you want to start and walking you through the process.”

She stated that, in 2022, they were able to put $120 million towards WIIN, and this year it has increased.

Joy-Ann Mecedo, a mother of five whose husband suffers from glaucoma in both eyes, said it was very tough for her to support her family; but with the funding and the Ministry’s step-by-step assistance, she was getting closer to starting her own business.

“My husband is 66 years old, and he has glaucoma in both of his eyes and can’t go into the back dam and work, so it is really hard. We used to work but the market closed off about 10 years back…I’m starting a new business so this money will help me get off my feet so I can be a proud businesswoman,” Macedo said.

Meanwhile, 23-year-old Latesha Cadogan, who was introduced to the WIIN training and WIIN in business programme through social media, will be venturing into mushroom production.
“My vision is to provide various strains of mushroom to supply several industries including the oil sector and based out of my hometown in Linden. This initiative, through the Ministry of Human Services and Social Security’s empowerment cash grant, I will be able to get the start-up I need,” Cadogan said.

She added: “When I did the WIIN in business programme, I was able to put all my thoughts down on paper, and they showed me what I needed to do with my business plan. During the course, I got to know in-depth what is required for the long term.”

Region Two’s, Lavern Corbin, embarking on a food venture, expressed gratitude to Minister Persaud and her team at the Ministry for affording her the opportunity to succeed in life.
Among the initiatives afforded by the Ministry to ensure the successful start to the business will be the collaboration with the Commercial Deeds Registry to have a clerk present at the exercise and register their businesses on the spot.

Meanwhile, during the seminars, these women would have been educated on securing their National Insurance Scheme and Guyana Revenue Authority compliances.
After completing the registration process, officers from the business incubator will continue to work along with the recipients to ensure their venture morphs into a thriving entity with several follow-ups and support.

Additionally, businesses can access the free marketing and advertising platform through the WIIN app. WIIN has trained over 6000 persons, with a further 6000 expected to be trained in 2023.