The United Nations Development Programme (UNDP) has teamed up with the Women’s Chambers of Commerce and Industry Guyana to enhance the capacity of women-led businesses and women in business.

As part of that partnership, the UNDP and the Women’s Chambers of Commerce hosted the first of four workshops aimed at equipping women with the knowledge and skills needed to capitalize on existing opportunities in the field of business.

It is believed that expanding opportunities for women to own and lead businesses benefits women, their families and the wider community.

At an opening ceremony held at the Pegasus to mark the start of the first workshop, the UNDP Resident Representative, Katy Thompson said women-led businesses are critical to the development of the country.

“We know that women-led businesses play an important part in development…and women obviously play multiple roles in society both as actors in the private sector – income generators, idea generators and innovators – but also in terms of maintaining the home, the development of families, and the development of societies as well as the economy. Women’s role in the Guyanese economy right now in this unprecedented growth situation is particularly important,” the UNDP Representative said.

Thompson said for the UNDP, the initiative forms part of its drive to support Guyana in achieving the Sustainable Development Goals (SDGs), particularly in the area of gender equality.

“We focus on gender equality, as a core part of our mandate, alongside resilience, governance, economic growth. And, women’s empowerment and inclusive growth are a critical part of what we do, and a critical part of that focus,” she said.

The UNDP Resident Representative said when women invest, they not only invest in themselves but in future generations. Citing a report from the World Bank, the UNDP explained that women tend to invest a higher proportion of their earnings from entrepreneurship and employment in their households, increasing expenditure on health and education.

President of the Women’s Chambers of Commerce and Industry Guyana, Josephine Tapp-Rutherford said women in business need more than just encouragement.

“We recognize that empowering women in business requires more than just encouragement. It requires partnership that provides access to knowledge, practical tools, meaningful connections and opportunities that enable women to grow their businesses, and contribute more meaningfully to Guyana’s economic growth,” Tapp-Rutherford said.

The President of the Women’s Chamber said the workshop will not only challenge women to take advantage of existing opportunities, but will provide them with useful tools to scale their businesses.

She noted that during the course of the workshop, focus will be placed on leadership, compliance and opportunities.

Registration and incorporation, statutory and other regulations and requirements, anti-money laundering, and networking are among other areas that will be covered.

In addition to today’s event, other workshops will be held on October 30, November 3 and 6 at the Pegasus Exhibition Centre in Kingston.

Some 39 participants are expected to be in attendance. The events form part of a larger UNDP initiative focused on enhancing the capacity of women-led businesses and women in business.

It is designed to strengthen participants’ understanding of business requirements, improve internal business systems, promote responsible business practices, and enhance their readiness to access emerging market and investment opportunities.

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