Dear Editor,

Persons have been publicly making statements that many businesses are closing their doors. This is true, however the fact must be faced that many businesses are closing down because of poor management and poor projection planning. The problems causing businesses to shut their doors were not created overnight, but over a long period of time.

The business sector is an evolving one. And businesses have to change to accommodate the fads and trends of the fickle-minded consumers. There is a changing face to the commercial sector in this day and age and the demand of the consumer is convenience. Many businesses in Guyana are able to compete favourably because they have assessed the needs of the consumers and have changed accordingly.

While there are closures, there are also many businesses opening up around the country. In the past businesses were centred in Georgetown but now this is changing. These businesses are there to accommodate the needs of the people. The convenience factor and the technological demands are being reflected in these businesses e.g., the shopping malls which will house several businesses under one roof and the many internet cafes which are popping up around the country. Also popular in Guyana at this time, is the phenomenon of private schools, spare parts stores, and supermarkets. Gas stations are also a good investment within Guyana.

Another factor to be taken into consideration is that there are many new roads which are being built all around the country. This creates new terrain for businesses all around the country because of the accessibility factor.

A recent news report quoted the Deeds Registry as registering 3500 new businesses. Even if half of these businesses are operational, it means that Guyana is progressing in the commercial industry. The good thing is that now there is an equitable distribution of businesses around the country, instead of them being solely centred in Georgetown. The establishment of businesses within rural areas creates a development foundation for those areas.

Therefore, to focus on the closures is unfair. Instead, we should examine why they are closing and promote those businesses that are new.