June 19, 2008

Investing in Destination Guyana

Guyana has got to be among the most frustrating place to do business. If you are a potential investor I caution you. If you are a young person going off on your own....again I caution you. I can now see why so many people are leaving Destination Guyana for Destination anywhere else...

The non-formal things you will need when considering investment in Guyana:

  1. Friends in high places that can give you a break or help you cut through the red tape
  2. Friends in low places that can give you a break or help you cut through the red tape
  3. Already having a business that is well known also helps (like a huge pool hall or the like)
  4. Having one of your parents as a minister also helps
  5. Drinking with a minister on Fridays or weekends or anyone else u can suck up to or kiss A** ....Join the grow more campaign
  6. Having a well known last name like correia for example
  7. Being of a certain color may be relavant unless you have alot of money or go to Jamaica to make music videos
  8. I see also spamming people has become popular "Dutch Bottle Cafe happy hour friday"
  9. and finally you MUST ensure you have a grand launch of your service, product or place inviting the creme de la creme of society. Make sure you have prawns, pleny coverage in the Guyana times and people with shirt Jacks on.

    Giving you some cold hard facts, not my opinion, as to how hard it is to do business in Guyana I will highlight some data from the DoingBusiness Guide of 2008.

    Regulations affecting 10 stages of a business’s life are measured: starting a business, dealing with Licenses, employing workers, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts and closing a business.

    Guyana's Ranking

    Guyana is ranked 104 out of 178 economies.

  • Ease of doing business: global rank is 104
  • Starting a business:84
  • Dealing with Licences: 69
  • Employing workers:71
  • Registering property: 53
  • Getting Credit: 158
  • Protecting investors: 64
  • Paying taxes: 100
  • trading across borders: 101
  • enforcing contracts: 73
  • Closing a business: 123

We have had NO reforms in doing business in 2008....none...positive or negative.

Look below for the amount of time alone you can take when just starting a business:Note this is the MINIMUM amount of time:

Starting a business:

  1. procedures: 8
  2. Duration (days): 44
  3. Dealing with licences:12 procedures
  4. Dealing with Licences: 222 DAYS?!

According to the World bank:
"Cumbersome entry procedures are associated with more corruption, particularly in developing countries. Each procedure is a point of contact—an opportunity to extract a bribe..." I rest my case....so be prepared....walk with extra money.

Ok, now onto One extra word of caution: If you are smart, qualified and experienced in the field you wish to open a business in... but have no money, no contacts and plenty of ideas ;don't even think about it...Don't go to IPED, don't go to goInvest....just go....preferably out of Destination Guyana

June 3, 2008


I really did not want to write about Carifesta since everyone else is....however as I was involved in tourism for a number of years I am always thinking of not only the preparation that goes into hosting an event but I always think of what after? It's funny....thinking about the what afters actually, in my opinion, helps with current event planning. For example, if one of the things you think of when planning the event is "country dressing and clean up", you should question in your mind "what will the visitor leaving these shores say about regent street?" or sophia? or the road leading to Umana Yana? These questions allow you to view the places in question with a critical eye, even more citical than a tourist.

One of the things I hope the event planning bodies in question will be doing is collecting as much ctitical visitor data as they can. It is about time the public is privy to visitor data. Perhaps this will get them started on thinking of tourism in a more serious manner. If they know things like:
1) Visitors loved our pepperpot over our curry goat
2) Tickets were sold out for each and every local cultural show, indicating people love our culture. Can we package this and market it?
3) People loved Orinduk falls over Kaieture survey shows....
4) Our wood craft was a huge hit with Visitors buying 79% of all displayed at X show. They most popular item being XYZ.

It's about time we all recognise the importance of specific data that can help us on a business decision and planning level.

Anyway Carifesta is in two (count 2) months. We don't look ready, but I am confident that the event will flow and everyone will enjoy themselves. I don't think persons really realise what a big deal is, and only will on opening day. In fairness, the tourist board, Min. of culture and THAG etc can't do everything alone. Everyone has to be involved. Everyone. Our manners are a reflection of us. We have to pull out all the "old time" values and show these visitors a good time. Pretent they are visiting your home. How would you treat them? What the planning committee should do is air PSA's reminding people of this. I know Guyana has problems (Which country doesn't?) but ....at the end of the day this event is upon us and we should all do all we can to make it successful.

I love to show off my country, in spite of all the negativity. I can be my country's harshest critic, but I love to show it off. I hope visitors can enjoy all we have to share. Welcome!