Young entrepreneurs set to take off with first Business Trust loans


Stabroek News
June 3, 2000


Six young businesspersons yesterday secured the first loans from the Guyana Youth Business Trust (GYBT) to aid in the development of their businesses.

The six each received $30,000 to help them realize their dreams of becoming successful entrepreneurs. On hand to receive their cheques were Candacie Smith, Lorraine Abrams, Zena Alli and Michael Evans each of whom has a mentor.

Smith, 19, a resident of Fifth Street, Alberttown, vends clothing. She shares a stall with her aunt, whom she said encouraged her to start up the business.

Smith imports the garments which she sells. She said she started the enterprise on a small scale one and a half years ago.

Her aim is to develop the business into a full-scale boutique.

Twenty-year-old Evans, who completed a cosmetology course in November 1999 at Hair-Tec International School of Cosmetology approached the Institute of Private Enterprise Development (IPED) - which administers the GYBT - on the advice of his mother who runs a salon and who gave him a section of her premises to operate his barber shop.

His love for the profession developed as he practised. He enjoys the challenge of the work, he said. His mentor Lyris Primo, a Trade Officer at the Canadian High Commission has guided him. Once his scheme is successful, Evans said, he hopes to further develop his shop which he intends to expand by employing up to eight other barbers.

Alli, 19, who along with her mentor Shankar Narine started a stationery design business, Universal Graphic and Copy Centre at 235 South Road, Lacytown, hopes to develop it into a dynamic establishment. The business, which got started about a month ago involves the graphic designing of business cards, flyers, invitations and also selling general stationery. According to Alli, she has been involved in the stationery business for over a year but only recently got the chance to start her own business.

Abrams, 20, of East Ruimveldt intends to have her very own supermarket and grocery and this she said is being sited opposite Roxanne Burnham Gardens on Mandela Avenue.

Abrams said the building was on the verge of completion and she expected to open up fully by month end. Previously she worked as an accounts clerk at Harris Paints, Water and Holmes Street. Her mentor, Senior Sales Manager at Banks DIH Ltd, Ramsay Ali, gave a lot of advice on how she could remain focused on her ideas and has been instrumental in organising consignments of the company's beverages for her business, Abrams said.

The other two persons receiving cheques were Uttam Batodall and Satish Persaud. Batodall intends to pursue an enterprise in the music field. It was stated by an official at the Trust that he intends to purchase a karaoke machine with his loan. Persaud is involved in jewellery-making and intends to develop his trade with his loan.

The GYBT seeks to provide assistance to young people between the ages of 18-30 years to allow them by using their potential, to create growth and develop successful enterprises. The Trust, apart from giving out loans, provides a range of services aimed at guiding the prospective entrepreneurs. These include technical assistance and counselling and facilitating further access to finance. It is modelled on the UK's Prince's Trust and was launched by Prince Charles while on a visit here this year.

Before the presentation of the loans, Chairman of IPED and the GYBT, Yesu Persaud, in brief remarks encouraged the young recipients to run their businesses prudently ensuring that they did not spend more than they earned. (Oscar P. Clarke)


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