For most businesses seeing this title, they would most likely say it doesn’t apply. All public companies produce such a report for their shareholders. I believe that all businesses should produce such an annual report.
In the early stages with one of my companies in Washington DC, I produced an annual report, sending a copy to clients and even the competition. We became a company that private investors started to pay attention to and subsequently produced a sale earlier than would have been expected.
In Guyana, many businesses are not prepared for a drastic change in their business environment if they were able to switch to a free market enterprise. With such a move, outside investors will be looking to buy strong companies and the earlier you prepare more than your financial tax records, the better you will be able to position your company for such a move or be able to see off new competitors.
Table of Contents for Non-Public Companies
Chairman’s Report
Mission Statement – Who do you serve
Corporate Governance
Risk and Competition
Key Trends
Review the past year’s achievements as compared to your goals
Briefly report on finances (more detail for internal use only)
Employee Recognition
Customer Recognition
Taking the time to write an annual report will also help you focus on your vision for the next year and review what were the positives and negatives of the current year. I recommend you take the time and put this report together and share it among your key staff, investors and even customers. Include a SWOT Analysis: Strengths, Weaknesses, Opportunities, and Threats.
2007 GOVERNMENT ANNUAL REPORT?
Will our Government produce an annual report to the nation that we, the Shareholders, the Investors and the People that fund their existence, will be proud of for 2007?
Table of Contents:
1. Growth – Would we be able to state that we have a track record of sustained growth among the highest in the region OR would we hear of a percent or two or even negative growth as we have heard in recent years?
2. A Competitive Environment – Would Guyana’s dynamic growth occur within the framework of a free-enterprise model, based on open and competitive markets OR would we hear that global price increases in food and fuel are the cause of our people’s woes?
3. Balanced Fiscal Accounts – Would we be able to say that fiscal discipline is one of the pillars of our nation’s solid international image OR would we continue to spend money on the fly with no linkage to the approved parliamentary budget?
4. Low Inflation – Would we hear that inflation dropped from X % OR in reality hear that inflation has risen to 13+% and the CPI Index for food items has seen a 19% increase and that Government takes a hefty chunk of our taxable $100.00?
5. Tax Collection – Will we be able to document the billions of surplus tax dollars here?
6. Guyana – A Global Trader – would we be able to document a steady increase of foreign trade in goods and services in the country’s international competitiveness?
7. Investments, Jobs and Wages – Would we be able to show net increases in wages, more jobs and true investments?
We want to be able to report one year in the near future that Guyana has a dynamic business environment that is the result of a policy-driven strategy that has focused on building sound macroeconomic fundamentals and strong institutions, promoting competition and international integration and creating a fairer society in which all citizens benefit from economic development.
We want to be able to report that comparative advantages can be further enhanced by Guyana’s open economy, which has meant greater competitiveness, lower tariffs, increasing levels of foreign trade and rapid integration to regional and world markets.
We want to be able to report a modern telecommunications system, a solid banking sector, and high standard public infrastructure, excellent quality of services and ample availability of qualified workers which are key factors that also favourably impress foreign investors.
Most important, at the end, is security, for all. Until next week “Roop”
