UNTIL the 18th century, wealth in all societies was centred on land ownership and the incomes derived from agriculture.  The manufacture of cloth and other hardware used by society was done by tradesmen.
Then, about the middle of the 18th century, came the Industrial  Revolution, whereby science and machines were applied to agriculture and the production of goods of everyday use.  With the  Agricultural and Industrial Revolutions, production became quicker with uniform quality and cheaper.

The persons who organised these new production techniques and were able to mobilise and supply the requisite capital for these ventures came to be known as entrepreneurs, and the techniques they employed became known as entrepreneurial techniques.  The advent of the Industrial and Agricultural Revolutions was solely confined to the efforts of private enterprise, and the state played no part, but in the 20th and 21st centuries, the state adopted entrepreneurial techniques in various aspects of governance.

If one peruses the daily newspapers, one will encounter reports of various Ministries of Government making efforts to stimulate and encourage the adoption of entrepreneurial techniques.  The raison d’etre of doing this is promoting self-employment, increasing incomes, raising living standards, and strengthening the non-oil economy, so that Guyana would avoid falling into the syndrome of the Dutch Disease.  The Dutch Disease occurs when a new oil-producing country focuses almost wholly on the lucrative oil industry, neglecting the other industries on which its economy formerly rested.  These industries fall into decline and become unprofitable, and when oil reserves contract or prices fluctuate or fall and revenue from oil diminishes, poverty and distress overtake that country, since its former economic mainstays have been lost.  Venezuela’s collapsed economy and widespread poverty demonstrate an example of a country suffering from the Dutch Disease.
The state of Guyana, as a new oil-producing country, is determined to avoid the syndrome of the Dutch Disease and is committed to maintaining its present industries, which are mostly agricultural, and extending into new ones.  The aim is to have the non-oil sectors of the economy contribute more than the oil sector in both income and employment :
The sugar industry, which was regarded as being on the verge of expiring four years ago, has begun to revive itself with the injection of capital, technology and modern management techniques, and the country has safely avoided being a sugar importer and plans to satisfy the sugar needs of CARICOM in the next three or four years.

The rice industry has been increasing in production every year as a result of inputs such as fertilisers, new species of rice, improved drainage, and even planting techniques, and it expects to continue expanding its exports.
Livestock farming is radically changing: improved poultry species have been imported from the United States and poultry farmers are now having larger and healthier birds with improved egg production. Several thousands of Blackbelly sheep have been imported from Barbados, and Holstein breeding cattle have been imported in the form of actual animals and semen banks.  Improved species of pigs have been imported to improve the quality of the local stock.

Soya and corn production have already begun in the Intermediate Savannahs, and Guyana will soon meet its needs for animal fodder.   Experimental tropical wheat and millet acreage have been successfully cultivated with great prospects for local and Caribbean usage.

Fish Farming has been successfully introduced, deep-sea fishing has been expanding with radar, and a few policing boats have been introduced to prevent illegal fishing in Guyana’s waters.
Training in various aspects of modern agriculture is being undertaken continuously with the help of various external agencies and local efforts. This would include the thousands of Goal Scholarships awarded annually. Training in tourism is also being conducted methodically to meet the needs of the growing tourism industry.

Financial grants, concessionary loans and guarantees have been widely distributed among the farming communities. For example, in 2023, 2500 grants for a total value of $ 680 million to small and medium-sized ventures were made, and an agreement was made with the Small Business Finance Trust for $100 million for concessionary lending to small and medium businesses. A loan- guarantee regime is also offered.
Extending these and other facilities to youth and women is one of the measures that are focused on developing the non-oil sectors.

A new entrepreneurial and self-employed class is being birthed among ordinary citizens, especially in the agricultural and related industries and even in the non-agricultural industries.  When cheaper power becomes available with the gas-to- energy project, it is expected that competitive production of the more traditional industrial products that Guyana now buys from Trinidad and other foreign markets will take off. Guyana is entering a phase of self-generating development and has been assessed to be on the threshold of being a first-world country in four to five years.

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