Twenty-two youths yesterday graduated from the third staging of the Financial Literacy and Small Business Programme at the Racquet Centre, Woolford Avenue and were urged to consider entering the technology sector by Minister of Business, Dominic Gaskin.
During the six-week programme, GINA said that the youths were exposed to financial literacy, preparation of business plans, communication, budgeting, and accounting procedures among others.
GINA said that Gaskin, in delivering the charge, pitched the idea of starting-up businesses in the area of Information and Communication Technology (ICT). Gaskin told the youths that around the world the idea of a ‘tech startup” is a big deal but it is not so in Guyana.
“I want to encourage you to give some thought to technology, it is an area with limitless possibilities and you should not be intimidated by technology, in fact you should seek to apply modern technology to anything that you do in business, and there is no type of business activity that you cannot improve and enhance through the application of technology”, he said.
The Minister said that, “farmers can now work very precisely… so many things have so much information about what they are doing that they can plan more efficiently and utilise the minimum amount of resources. It gives them a competitive edge, it makes what they produce less expensive, it reduces their operating cost more or less and anything that increases your competitiveness will give you the edge in business.”
GINA said that Deputy Governor of the Central Bank, Dr. Terrence Smith told the ceremony that he is dedicated to bringing financial literacy to Guyana. According to Dr. Smith, it is something that is lacking in the indigenous communities.
Dr. Smith said that, “in the indigenous population and in some rural areas, you see how this thing is affecting them and therefore, it affects the economy of Guyana. My intention is to help focus on this matter and try to bring it to the forefront.”
The Central Bank, Dr. Smith disclosed, will be developing a programme to help the Guyanese people to understand what it means to be financially literate. “The project that we are trying to do at the Bank of Guyana is a mammoth project because we are going across Guyana, and I am trying to bring on a lot of stakeholders,” Dr. Smith explained.