Earlier this year, businesses voiced concerns about the stagnant economy and the apparent limited spending power, after sales dropped and remittances-an essential part of the economy-subsided. It was noted that the job loss has affected the community and, as a result, the spending power. The largest private employer, the Chinese-owned bauxite company, Bosai Minerals, has terminated the employment of over 100 persons this year.
Although cautious about the New Year, businesses now seem to be optimistic about their gains over the next few weeks and are trying to capitalise on the possibilities. “I am optimistic,” were the words of the President of the Linden Chamber of Commerce and Industry Basil Jaipaul, in a recent interview with Stabroek News. He projected that the real surge would occur a week before Christmas.
Jaipaul, who is also the proprietor of Riverview Shopping Centre on Burnham Drive, Wismar, noted that there has been a reversal after the drying up of remittances, though he admitted that while the inflow is steady the sums are less. Jaipaul’s business also operates a Western Union franchise.
He added that he has also seen an increase in sales due to the scheduled closure of the Mackenzie/Wismar Bridge, which he expects will continue throughout the holiday season.
He explained that sales have gone up because some customers are now choosing to shop at Wismar, instead of going to Mackenzie or even the city, since the opening hours of the bridge are not convenient, especially for persons shopping for hardware. As a result, Jaipaul was optimistic that hardware sales will pick-up and Riverview has already seen an increase in such sales.
Until April 2010, the bridge’s opening schedule will be affected due to repair works being carried out.
Stan Smith, who runs Jacs Hotel, Snackette, Restaurant and Bar, is hoping to increase his sales after expanding selling routes and replacing his ice-cream machines. Smith said that following repairs to an additional delivery truck, he will sell bread products on the Linden/Soesdyke Highway and on the East Bank, which is expected to give him an additional revenue stream.
Already, Smith indicated, “the demand for the product has increased,” comparing current sales to last year. “The holiday will be bright,” he added.
Smith is even reviewing his staffing and plans to hire additional workers to handle the customer traffic over the holidays.
Smith would not say if the increase in business signals a turnaround in the Linden economy or whether there is a supply shortfall in the bread products market, but he is happy with the situation.
Former Chamber President Leonard Forde, of Aquarian Import/Export Agency, is also optimistic that the season will bring steady sales. Although he believes there are signs of growth, he noted that it was difficult to identify the level because the business community is not organized enough.
Around the Christmas season, he said, he is always optimistic because people have a little more money (for example, from government bonuses) and as a result there is more money in circulation. He also pointed out that the demand for baby chicks “is great,” but noted that this demand is comparable to last year.
It is consistent too with the demand for chicks in Linden since a number of persons are now rearing poultry for a living.
