The vital role of entrepreneurs
Editorial
Stabroek News
July 29, 2004
In a capitalist system entrepreneurs play a vital role. They have ideas, have the ability to raise funds and the energy to get things done. Let us give two practical illustrations.
First, let us look at agribusinesses and a single example that might illustrate the possibilities. Anyone who has tasted guava jelly knows that it can compete with any jams made abroad. It has been reported that decades ago bottles of guava jelly were among the exhibits in the Guyana booth at a trade fair at the Olympia exhibition centre in London. It was well received and a businessman was interested in placing a large order. Regrettably, the manufacturer was in no position to supply. There is no doubt that there is a large market out there for guava jelly and perhaps other products made from Guyana's fruits. What has been lacking so far is an entrepreneur to make the necessary investment, which could be quite substantial, in land, equipment and labour and to arrange efficient packaging, export and marketing procedures. This is the vital ingredient that has been lacking so far. Part of this must be attributed to the brain drain, political instability and the long experiment with socialism.
Then consider tourism, in particular eco-tourism. Many knowledgeable visitors have indicated that what Guyana has to offer with its pristine rainforests, large rivers and waterfalls is rather special if not unique. What is needed now is the entrepreneurial skill to build on what we already have to offer (Iwokrama, Shanklands, Baganara, Timberhead) by tackling the bottlenecks like getting tourists to Guyana efficiently and in a hassle free way (reliable flights or cruise ships), trained guides to show visitors around and so on. There have been pioneers in the field like Wilderness Explorers but much more has to be done in the marketing of our product by advertising abroad, attending the necessary trade fairs and establishing effective links. Ideally, we should go for upmarket tourism for people who want to bird watch, walk on nature trails and see the beauty of our interior. Minister of Tourism, Industry and Commerce Manzoor Nadir has been showing some energy and initiative but government can't do it all. What it must concentrate on is encouraging and assisting existing and new entrepreneurs to develop the tourist product and break the bottlenecks.
The encouragement of an entrepreneurial class is vital to our future development. The old business class has gone long ago and the new one lost confidence during the era of miniaturisation. Some energy and imagination still exists (the development of the Mainstay resort was a good example) and the Institute of Private Enterprise Development led by Mr Yesu Persaud has been doing an excellent job making loans to and helping to train small businessmen. But we are paying a huge price for the ideological extremism of the past. Destruction is so much easier than building.