Hailing Scotiabank’s support for his $300 million Andrews Supermarket investment, businessman Saiku Andrews yesterday urged aspiring entrepreneurs to not be discouraged by perceived stereotypes, even as the Georgetown Chamber of Commerce and Industry (GCCI) bemoaned the dearth of financing for businesses.
“I am from West Ruimveldt. I am Afro-Guyanese. We know what the perception is. We know what the challenges are and I am talking this from the perspective of Afro-Guyanese themselves, limiting themselves because of the things they have heard and they allowed to harbour, and [are thus] limiting themselves,” Andrews yesterday said during remarks at the opening of the second branch of the business, located at the former Nigel’s Supermarket building on Robb and Light streets.
Referencing author John Hope Bryant’s ‘Up From Nothing,’ Andrews said that many may still perceive race as the biggest challenge and the biggest determinant of success but he is evidence that “all we need to do is to expand ourselves.”
“Break the barrier by changing your own mindset. People will approach you and you will have preconceived ideas. It is your responsibility to bring them in and destroy it and move on with your life,” he added.
He later told the Stabroek News that he was grateful for the support received from Scotiabank to finance the $300 million investment.
“Scotiabank has always been my bank and has always given me immense support..,” Andrews said.
Even as Scotiabank came in for high praise, GGCI President Timothy Tucker, a speaker at the launch, said that access to financing in Guyana continues to be one of the major setbacks for small and medium-sized businesses (SME) looking to expand.
And with Guyana now an oil producing country projected to see a number of spin-off sectors from that industry, Tucker said that small businesses seeking financing to possibly tap into these sectors remain stagnated by the law.
“Access to finance is across racial divide here; it is a cross-cutting SME problem. Don’t matter what is your micro business, access to finance is a problem. There is a need to change the asset requirement in the laws of Guyana because it only permits you to borrow against an asset. So all the instruments that are there around the world, Guyanese are not able to use those, such as invoicing, stock and anything that is movable,” he said.
“Now if someone has a contract with ExxonMobil they cannot borrow against that. If someone owes me, legally, I cannot borrow against that. I can only borrow against, say a house or car …why is this when most small businesses have all their money invested in a business. They can’t buy a house as yet because all of the money is in the business. That doesn’t make sense,” he reasoned.
Rise
As he detailed his rise from owning one supermarket to now investing in another in the heart of the capital, Andrews said that it was not easy. He told of his economically hard upbringing, being one of 10 children to a single mother.
His mother was emotional yesterday as she briefly spoke of her son’s vision when he was a child who was also looking at ways to earn an income. Mrs. Andrews said that while she has 10 children, as a mother she knew there was something special in her son and prayed continuously for success.
It is from his “starting from the bottom” that Andrews said makes him appreciative for where he is today and why he places emphasis in making shoppers “from the person buying a pack of chewing gum to the person filling a trolley” know that their support is immensely appreciated.
He said that “people come into our supermarket and they have issues [they are struggling with]… we must be the place they can say ‘hey, they have given me a light moment and I can now go out and face the world’”, he said.
To himself, he said that he is determined to ensure that the supermarket, which now competes with several others within a short distances, stands out and is successful.
“You have to do this well, you have to be successful for the little guy from West Ruimveldt coming up. He must look at it and say, ‘If Saiku could have done this, and fatherless, no gold spoon in his mouth, with discipline and a humility to say I need help [then I can also]. You have that burden and that burden I am willing to bear,” he noted.
That the building that Andrews Supermarket is now in replaces former well-known establishment Nigel’s Supermarket also adds to the public expecting quality service, according to Andrews.
Nigel’s Supermarket set the standard in local supermarkets here when it opened over two decades ago but fell on hard times after expanding and taking on debt.
Customers today still refer to the quality of service received there while complaining of the lack of efficient customer service at others.
Andrews Supermarket will stand out, Andrews believes, because it is Guyanese-owned and its customer service will also be unforgettable.
“We grew up knowing about Nigel’s and I know he was an amazing entrepreneur and had customer service down pat. In that regard I have to be willing to push …I am going to use that as a barometer to push above and we will do it…We are setting out to give you a service that is unmatched,” he said.
Andrews supermarket will provide employment to 35 persons and it will be open Sunday to Sunday. Opening hours are from 7:45 am to 8:30 pm from Monday to Saturday, and from 7:45 am to 6 pm on Sundays.
