Empretec, a new agency which focuses on entrepreneurial skills, was officially launched in Guyana on Thursday and aims to train 250 business persons and create 1,000 jobs.
This project is jointly funded by the United Nations Development Programme (UNDP), the Government of Guyana (GoG) and the Guyana Manufacturers’ Association (GMA).
Its training programme seeks to change the attitudes of those entrepeneurs running small and medium size businesses and involves intense participation in a simulated business environment where persons have to manufacture their product, find markets, advertise and effectively run their businesses.
The name Empretec is an acronym derived from the Spanish phrase ‘Emprendadores Tecnologia’, which means Technological Entrepreneurs. The concept was first put into effect in Argentina in 1988 as a United Nations pilot programme and has been initiated in 23 countries assisting over 42,000 entrepreneurs through local market driven business support centres. It specifically targets small and medium-sized enterprises (SMEs) from the sectors of agriculture, manufacturing and services. Persons with other business initiatives and ideas, university graduates, civil servants and large companies are also accommodated by Empretec.
In 1997, a Memorandum of Understanding was signed for the establishment of Empretec in Guyana, with the GMA being the executing organisation and after a four-year hiatus, the GMA and the Ministry of Foreign Affairs last year made the final arrangements for Empretec to begin.
President Bharrat Jagdeo spoke at the launching at Le Meridien Pegasus Hotel and said the governments of the world were working to create a stable environment for small entrepreneurs. “We have to create the environment and provide the training and access to capital for [these businesses] to grow.”
He said he was happy with the change in business culture now being experienced in Guyana, although he noted that persons tended to feel embarrassed when they failed at business.
Eku Dunwell of Empretec Ghana told the audience that the project had been a great success leading to further funding for Empretec programmes in other countries.
The United Nations Council on Trade and Development (UNCTAD) was the agency that facilitated the training of the first batch of small entrepreneurs. This agency will be training the local trainers as well.
Ramesh Dookhoo, President of the GMA, said the project would train a minimum of 250 entrepreneurs, six local trainers and should create 1,000 new jobs and expand exports by US$5M.
UNDP Resident Representative, Jan Sorensen said Empretec would play an important role in the implementation of the Poverty Reduction Strategy. He added that the most important elements of that strategy were the policies that stimulated economic growth and created employment.
Empretec’s official launching comes at the conclusion of a series of workshops and other activities designed to motivate persons, developing within them an entrepreneurial spirit.
One of the participants, Marva Bancroft said that facilitators examined the personal situation of each of the trainees and assessed such factors as risk taking, efficiency, quality control and goal setting. “We were asked to identify new and innovative business ideas,” she said. Training also comprised motivational, meditation and various role-playing activities with a view to making the person a better entrepreneur.