-by Nakasia Logan

Young entrepreneurs are being urged to develop innovative and sustainable business ideas as government prepares to launch the Guyana Development Bank, a move expected to expand access to financing and support enterprise growth.

The message was highlighted during the fifth installment of the Econome Summit, which focused on equipping young business owners with the skills and mindset needed to succeed in an increasingly competitive economy. 

Founder of Econome, Matthew Gaul, said the fifth installment of the summit was held under the ‘Swim Differently’ theme, which encouraged entrepreneurs to chart unique business paths and embrace innovation.

“In Guyana, we have what we call like a copycat culture. We want to teach people how to innovate and to swim differently.To do that, you need to be a master of your craft. So we want to encourage young people to really hone in on their craft, become masters at it, and then you can properly swim differently,” he said.

Gaul said the discussions focused on helping entrepreneurs better understand their industries, identify opportunities, and develop ideas that are not only creative but also capable of attracting investment.

With the Guyana Development Bank expected to come onstream soon, he believes young entrepreneurs must be prepared with businesses that are innovative, well-structured and bankable.

With the Guyana Development Bank coming on stream within a few weeks, you want to have ideas that are different, that are bankable, that have the potential for profit. The two-day summit held from June 20 to 21 at the Four Points by Sheraton Hotel culminated with an award ceremony recognising entrepreneurs who are making an impact across various sectors.