Traditional ways of doing business have to change – GCCI President

It is important for local businesses to operate on an international level and in order to do so, President of the Georgetown Chamber of Commerce (GCCI) Timothy Tucker believes that businesses must move away from the traditional means of operating.

Businesses will have an opportunity to learn innovative ways through the GCCI’s business development forum which will be held at the Pegasus Suites and Corporate Centre at Kingston, Georgetown on November 11 and 12, 2022.

This was noted by Tucker during a press conference on Tuesday to highlight the goals and objectives of this year’s business development forum at the GCCI’s boardroom at Waterloo Street, Georgetown.

“Businesses cannot just be based on what you are accustomed to – buy and sell things in a small business. We have to grow businesses, we have to take businesses to the next level and especially businesses in Guyana,” Tucker said.

“We have to change the way we look at businesses our traditional ways of borrowing, our traditional ways to finance your business, traditional ways in which we do business has to change,” he added.

Tucker noted that there will be a “wide array” of topics discussed during the business development forum that are important to business development and for the future of the local private sector.

“We’re going to teach businesses how to sole proprietorship to incorporated entities, how to get audited financial statements, benefits of not operating under the table but onboard and above board, growing your business, profitable business, what opportunities are available for businesses,” Tucker said.

The business development forum is the brainchild of GCCI’s Trade and Investment Committee and was first held in 2018. The forum will make its return this year after a two-year hiatus due to the COVID-19 pandemic.

“The GCCI with its membership touching 700 members, we realize that it’s important for the chamber to play its role in developing business nationally, not just chamber members but the wider business community,” Tucker said.

The event is open to businesses across Guyana that are interested in participating and benefitting from the programme, including presentations from business community leaders and academic experts.

During the press conference, Executive Director of GCCI, Richard Rambarran noted that the business development forum is intended to bridge the gap between information, knowledge and capacity of the business community.

“We realize that there was no single platform in which an enterprise could go and obtain the information that would help them to bridge capacity gaps that exist in their business,” he said.

He noted that the agenda addresses the issues that plague the private sector based on research conducted.

There are five thematic areas that will be discussed at the forum: access to finance, local opportunities for businesses, improving standards and quality, doing business in Guyana and marketing.

Each of the five thematic areas will have a keynote address by a business leader which will be followed by three presentations and then a panel discussion between presenters and members of the audience.