Ten Guyanese businesswomen yesterday began an eight months’ engagement which will see them better able to advance their ventures.
The 10 women have been selected to be part of the Women Innovators Network in the Caribbean Acceleration Programme (WINC AP). Through a multi-faceted holistic approach, WINC provides the methods, tools, and access to appropriate expertise, improving their competitiveness making them more investment-ready. It is part of the Entrepreneurship Pro-gramme for Innovation in the Caribbean (EPIC) initiative funded through the World Bank Group’s InfoDev programme and the Canadian government.
Infodev is global programme in the Global Practice on Trade & Competitiveness of the World Bank Group. It supports growth-oriented entrepreneurs through path-breaking business incubators, accelerators and innovation hubs. EPIC is a seven-year Cdn$20 million programme funded by the Government of Canada that seeks to build an enabling ecosystem to foster high growth and sustainable enterprises throughout the Caribbean.
Speaking with Stabroek News at the opening of the engagement, facilitator Valrie Grant explained that the women were selected after a competitive application process which saw 250 women from across the Caribbean applying to participate. After the initial application 13 Guyanese businesswomen were shortlisted to take part in a panel interview.
That process saw ten women: Berlinda Duncan-Persaud of Cheereemee Marketing Agency; Christine DeCambra-Forrester of Everything Makes Craft; Savitri Doerga of Venus – The Beauty Planet; Judy Beykaran of the Pink Shop; Junette Stuart of Junshazynas World of Fashion & Interior Designing Enterprise; Leisa Gibson of Leisa Salon n Beauty Supplies; Peggy Chin of Gardenland Nursery & Gift Shop; Renata Chuck-A-Sang of Zhuor Enterprises and Vassilia Constantine of The Orchid Foundation/ Crisel’s Enterprise; being selected to participate in the programme.
Over the next eight months the women will undergo peer training supplemented by coaching and mentoring from technical experts. The entire engagement is designed to assist the women in developing networks, accessing financing and developing their businesses through the use of technology.
Grant further explained that while the first stage of the programme is being heavily funded by the World Bank Group the onus rests on the participants to secure local funding as they move forward. To that end Scotia Bank Guyana, through Country Manager Raymond Smith has already made a commitment “support and contribute in a tangible way.”
Delivering the keynote address Smith told the participants that growth-oriented entrepreneurs are both determined and innovative.
“They identify opportunities for growth and take the risk, often leaving secure employment to exploit a market opportunity they recognise. They are determined to move forward in a revenue-focused manner. They continuously seek to build new networks and develop and improve their products while constantly seeking to reach new markets thereby bringing investment into their home economy,” Smith said.
He emphasised the entrepreneur’s capacity for enabling sustainable growth noting that in most middle-income countries, a category in which many Caribbean countries fall, they are responsible for approximately 90% of employment and 70% of Gross Domestic Product.
Vice-President of the Georgetown Chamber of Commerce and Industry Vishnu Doerga also encouraged the participants to take full advantage of the programme. He explained that they are expected to do great things not from the time the programme ends but from the day it begins as many other entrepreneurs, including women, are out there looking at them. According to Doerga, it is essential that Guyanese entrepreneurs let go of the mentality of “trying a thing” or “doing a hustle” and recognise that they are building a business. They must therefore plan not with the idea of securing funding, but to develop a sustainable business.
