| – DookooLocal small businesses may not be benefiting from all of the incentives that are available through the Small Business Act, which was passed in Parliament in 2004. This is according to member of the Private Sector Commission, Ramesh Dookoo.He related that the Act includes a number of incentives for small businesses but noted that because it has not been fully implemented by the Small Business Association and Small Business Council, small businesses may not be benefiting from all of its provisions.Ramesh DookooAmong the likely benefits are increased earnings, expansion of business operations, establishment of new businesses, increase employment for the disadvantaged groups and easy access to financing.As such, the National Competitiveness Strategy Unit (NCSU) of the Ministry of Tourism, Industry and Commerce is working along with the Small Business Unit to develop a Small Business Bureau.According to Economist, Bobby Gossai,Adam Joseph Duhe Dolphins Jersey, the NCSU is working along with the Small Business Unit to develop the Bureau.The Small Business Bureau will provide the tools necessary to allow the Small Business Council (SBC), under the purview of the Ministry of Tourism, Industry and Commerce,Cheap NFL Football Jerseys, to draft and promote policies and programmes for small businesses. The Bureau will allow the SBC to also make informed decisions thereby achieving its function of basically drafting and reviewing policies.“We, presently have a consultant doing investigation into areas that small businesses need support. So the work of the consultancy is to conduct a study to see which are the 10 areas in which small businesses are being fast-tracked, so more emphasis will be placed on them,J.R. Smith Jersey,” Gossai said.The consultant will look at the constraints, and determine whether the investment in them will be sufficient and sustainable overtime.He disclosed though that there are some areas in the small business sector that are already moving ahead faster than others, such as art and craft which is pushing forward thus they attract a big export market.The Small Business Act,Cheap Air Max 270 Mens, having been passed in Parliament in March 2004, made provision for the establishment of a Small Business Council, a Small Business Bureau and the establishment of a Development Fund.Members of the Small Business Council were appointed during the last quarter of 2005 and an 11-member Council was established with representatives from both the public and private sectors.The Chairman on the Council, according to information from the NCSU website,Wholesale NBA Jerseys China, is Mr. Keith Evelyn,Basketball Shoes Clearance Sale, the Chief Executive Officer of the Hand-in-Hand Insurance Group of Companies; the Vice Chairman is Ms. Manjula Brijmohan, Managing Director of the Small Business Development Finance Trust. Other members of the Council include the Guyana Small Business Association (GSBA), the Institute of Private Enterprise Development, the Regional Chamber of Commerce and the Rural Women’s Network.The Small Business Act also provides for the Minister of Tourism,Cheap NFL Jerseys Wholesale, Industry and Commerce to have the ability to establish the Development Fund, which will provide: Support and access to financing for small businesses; non-financial services and assistance to help small businesses improve productivity and competitiveness; institutional support for organisations representing, promoting, supporting and strengthening small businesses and funding the expenses of the Bureau.The Act, in essence provides for the setting up of a legal and institutional framework to nurture the growth and expansion of small businesses and to offer assistance to the efforts of small and micro enterprises. |
