Faced with one of the highest unemployment rates in the region, the Guyana Government on Wednesday held its inaugural Youth Business Summit with the main aim to develop young Guyanese entrepreneurs and reduce youth unemployment.

The Summit is attracting a wide cross-section of Guyanese youth from across the country and is poised to change the business and employment landscape for the better, if the Government’s predictions are right.

Guyana’s unemployment rate is currently pegged at 12% but this is expected to change in coming years if the government’s plan for ensuring its youth population is employed and their entrepreneurial minds are developed.

Start-up grants will be available after the two-day summit to many of the participants with the hope of finding the dreams of young Guyanese.

Minister of Social Cohesion Dr. George Norton said that it is with the zeal to create jobs that the Cabinet has considered a green paper on the establishment of a National Youth Service.

He said under the National Youth Service, the administration intends to train youths so that they are able to become employable.

“Where they can reach a level of achievement that will give them one of three options… to continue in academic pursuit, they can be sufficiently qualified to gain employment or so that they can become entrepreneurs.”

Norton said for this administration, creating jobs means enabling young people to become their own bosses and encouraging ideas that are innovative and developmental for communities.

“Young people shouldn’t have to leave the country to find employment,” he said, while reminding of what happened a few years ago where qualified young people left Guyana in search of greener pastures.

He said youths must be equipped with the tools they need to turn their ideas into reality.

Also addressing the opening of the Summit was Business Minister, Dominic Gaskin.

He said his Ministry fully supports and understands the importance of getting young people into the business.

Gaskin reminded the young people that getting into business also comes with a responsibility of good record keeping and the paying of taxes. To this end, he said his Ministry intends to support “responsible business.”

He urged those present to ensure they possess qualities that will be needed which includes honesty and integrity, good credit rating and the use of modern technology and systems.

The inaugural Guyana Youth Business Summit is for those with ideas geared towards fostering community development and employment of youth in communities throughout Guyana.

The Guyana Youth Business Summit will provide a forum for the exchange of information between pertinent private and public sector entities that speak directly to youth entrepreneurship.

Submission of proposals from participants will be facilitated. On day two, participants will present their proposals to a panel for possible selection to receive startup capital.

This Summit features presentations from private and public sector organizations such as the Guyana Revenue Authority, Commercial Registry, NIS, Go-Invest among others.

Related posts:

Youth forum examines unemployment among Guyana’s young people Hard Rock Cafe excited to start doing business in Guyana; PSC welcomes company President presses local businesses to invest more as Private Sector seeks government’s economic policy at Business Summit Guyana Youth Corps to be re-established -Pres. Granger