Empowering…the small man – and woman

To all those who’re clamouring for “a piece of the action” in our burgeoning oil-fuelled economy – they’ll soon have absolutely no excuse to kvetch or wring their hands about being locked out because – as the opposition is screaming – they’re not “friends and family”!! As had been promised in their manifesto last year – and repeated several times since by Pressie so as to enable ambitious go-getters to get ready – yesterday the bill for a “Guyana Development Bank” (GDB) was introduced in Parliament!!
As has been made clear, the GDB’s geared to assist aspiring entrepreneurs in small and medium-sized start-ups who faced – or think they would’ve faced – difficulties in securing funds through commercial banks or other lending institutions!! The way most of these banks operate, you’d think they want borrowers to put up their firstborns as collateral before they get even a penny!! And that’s after they get the honour of crawling up to the loan officer!!! The Government’s gonna be providing an initial capital of US$2 million – or GY$420 million – as a first tranche!! Loans of up to $3 million will be provided without collateral and at zero interest – and all the prospective borrower gotta do is provide a business plan for the venture they wanna launch!!
But you’ll say – how are the poor slobs – who probably haven’t finished school gonna be able to draft a “business plan”?? Well, the PPP Government thought of that – having been supported since its formation by so-called “illiterate” folks who established the rice industry that’s now surpassed the foundational sugar industry!! The GDB’s gonna also provide assistance in preparing loan applications and business plans – then continue with mentorship and technical support to borrowers!! After their business gets going, they may later access financing of up to $10 million through bridging arrangements with commercial banks!! What more can those who want to get ahead want??!!
Well, even though your Eyewitness’ question sounded rhetorical, the answer is a “risk-taking” attitude – commonly called “balls” or, euphemistically, “testicular fortitude”!! And that’s the sad truth about most of those who’re bitching about not getting contracts or becoming “contractors”, innit?? They just don’t have it in them to take the risk of failing – which is implicit with ANY venture one undertakes – including trying to get rich!! They want certainties – which of late means waiting for cash grants to be deposited in their accounts!!
So, the ball’s now in the peoples’ court!! After five years of being offered free GOAL scholarships, BIT and technical training, modern agriculture practices like shade farms and hydroponics, road building, etc, etc, these skills can now be put to use to start small businesses!!
And then grow them to fulfil their own ambitions – and our country’s!!

…the bigger man – and woman
Now earlier in the week, Pressie took pity on those lacking the gumption to borrow money and put it on the line in a new business!! He reiterated his earlier offer to locals with big money – by our standards! – to increase that money beyond the measly interest from banks – assuming they don’t keep it under their beds!! He bigged up local participation in the major projects being developed within the Wales Development Zone!!
Remember that?? The projects were gonna be structured to allow both Guyanese individuals and local businesses to invest and earn fixed returns!! He pointed specifically to the planned fertiliser plant – costing some US$340 million – and the gas bottling plant, US$40M!! For the former, well-heeled locals can plunk down up to US$5M, and for the latter, US$1M – to receive a GUARANTEED 10 per cent return!!
When these companies later issue IPOs and list on the stock market – those investments gonna mushroom!
And allowing the small man to get a piece of the (shares) action!!

…the scroungers
With all of that being said, there are still gonna be some who wanna SHOW they’re living the good life – even though the funds aren’t there. For them the Hire Purchase Amendment Bill is being modified!!