calls for enhanced small business support for Caribbean youths

KOMAL Samaroo, Executive Chairman of Demerara Distillers Limited (DDL) and the newly established World Trade Centre Georgetown (WTCG), has made a strong call for a coordinated initiative to train Caribbean youth in essential technical skills. Highlighting areas such as carpentry, plumbing, electrical, and automotive services, Samaroo also emphasised the need for financing to help these young individuals become micro and small entrepreneurs with growth potential.

This advocacy was a central theme of Samaroo’s engagements last week in Washington, D.C., during the Caribbean Legislative Week activities on Capitol Hill, organised by the Institute of Caribbean Studies. Samaroo’s call for action was echoed during various public and private meetings with U.S. government officials and elected representatives.

At a working lunch hosted by DDL in the Rayburn House on Capitol Hill, Samaroo underscored the importance of developing skilled labor in the Caribbean. “As our economies in the region expand to include sectors such as oil and gas and as we use the resources garnered therefrom to further develop our agribusiness, tourism, and other sectors, the demand for skilled technicians will grow. We have got to prepare from now to ensure that these skills are provided by the people of the region,” Samaroo stated. He noted the significant development in Guyana, where the demand for skilled labor already outstrips supply.

Supporting his argument with U.S. Department of Labor statistics indicating that 55 per cent of new jobs in America are created by small businesses, Samaroo stressed the necessity for similar initiatives in the CARICOM region. He advocated for businesses that leverage evolving technologies, which could be driven by well-trained and adequately financed small entrepreneurs.

Samaroo highlighted the success of the Institute of Private Enterprise Development (IPED) in Guyana. Initially funded with a $500,000 grant from the Pan American Development Foundation (PADF) and matched by the local private sector, IPED has disbursed thousands of loans to micro and small entrepreneurs over the years. “With counseling and effective monitoring, a majority of these loan recipients have been successful, and this approach needs to be intensified and expanded so that the youth of the region can take advantage of current and emerging opportunities,” he said.

In private discussions with U.S. officials, Samaroo proposed a regional approach to financing, suggesting tangible support from the regional private sector, especially for CARICOM member states not eligible for concessional financing due to their high-income status.

The discussions also touched on the need for basic skills training as a mechanism for youth engagement and crime prevention. “From what I have been hearing, an intensified basic skills training program would serve as an effective mechanism to assist in ensuring security in the region,” Samaroo noted during a meeting at the U.S. State Department with Katharine Beamer and her team.

A recurrent theme during the week was the Caribbean’s effective engagement with the U.S. While some participants expressed concerns about perceived U.S. neglect of the CARICOM region, U.S. representatives pointed to a lack of outreach from Caribbean entities. They stressed that commitments made during visits by U.S. officials often lack follow-up.

Samaroo also agreed with Allyson Browne Mc Kithen, Executive Director of World Trade Centre Washington, D.C., to collaborate closely with relevant agencies and organisations to advance trade and development between Guyana and the U.S., and where applicable, the CARICOM region.

During his visit, Samaroo paid courtesy calls on Congressman Jonathan Jackson and Katharine Beamer, participated in Legislative Week discussions in both the House and Senate, and engaged in informal talks with officials from the United States Trade Representative (USTR), USAID, and USTDA. His visit also included a tour of the U.S. Library of Congress conducted by architectural historian John Hancock Dickson.

Samaroo was accompanied by Wesley Kirton, Executive Director of WTC Georgetown and co-chair of the Caribbean Legislative Week planning committee.