WE NEED AID BUT WE NEED MORE BUSINESSES!
Caribbean Export. President Obama, July 8, 2009
EDWARD HARRIS AT LARGE!
WE NEED AID BUT WE NEED MORE BUSINESSES!
I was watching GPS with Fareed Zakaria on CNN Channel 7 last Sunday morning and I heard a statement from an African woman that is worth some thought. Here it is “Foreign Aid stops Governments from finding innovative solutionsâ€. She also noted that it is not about Aid versus no Aid; it is simply that we need more businesses. I fully agree with that position as local businesses could assist in responding to the needs of their communities and bring meaning to corporate social responsibility. Most important, putting business as a priority supplemented by Aid will be a serious shift in assisting to alleviate poverty.
Most influential third world leaders are of the belief that the developed world owes a debt to the developing world for the years of exploitation. As a result, they demand Aid. In many instances Aid is misused and abused. The situation has deteriorated to such a point that where even the private sector has become Aid Dependent. Business persons almost refuse to pay for services to develop their businesses even when they can afford to.
What would have been the state of affairs with many of our companies had assistance provided by OPSR, SEDU, EDU and Caribbean Export had not been available by funding from international agencies and foreign governments? But looking back at what has been achieved you will find there is a disconnect between what is most needed by the private sector and what has been delivered. Here is an example: For as many years as I can remember, attending meetings, the call for flexible financing terms and readily available finance to advance businesses has been deafening. At the moment business persons are anxiously awaiting the goodies of the EPA and the Regional Development Fund. At this stage the most important need of the MSME sector is access to money. Cash flow support and financing for new projects. Interventions must not only benefit consultants, the beneficiaries must also receive tangible benefits.
After all these years we don’t even have a financial institution that is geared towards meeting the needs of Entrepreneurs seeking to set up new and innovative businesses. What we need most at this time is a Venture Capital Bank. Public companies at the start up stage should be encouraged. The Cooperative Sector should be responsive to the formation of businesses especially those that seek to serve specific community needs. There are some interesting areas that Cooperatives can serve in today’s business environment when consumers are screaming for help in the cost of goods and services. We must find creative solutions to solving the unemployment problem. We have a battle on our hands to maintain employment at the 2007/2008 level.
President Obama is having a problem on his hand to explain the benefits derived from the stimulus package he initiated. In presenting the package he almost ignored the fact that the package was not only to create jobs but to maintain jobs that existed at the time the package was introduced. Maintaining jobs is equally as important as creating jobs. Vice President Biden alluded to the fact that the current administration under estimated the magnitude of the economic crisis. It is likely that more stimulus money will be needed.
While some industry leaders are predicting that the economy of the USA will begin to turn around by December, 2009 it seems at this juncture, too soon to predict such a situation since the crisis could further deepen. It is being said all the time that the real impact of the stimulus plan will not be felt before 2010. The situation is beginning to bite in St. Lucia and many people have begun to tighten their belts. This is further proof that it will be sometime in the future before the situation is likely to ease.
A few days ago I met one of my readers and he told me that he admires my optimism in spite of the difficult times in which we live. After our brief discussion, we both concluded that there is money to be made regardless of the current economic situation. My advice is to find your niche and go for it.
Keep the Faith; remember always God is in Charge, Dream Big and Expect Daily
Miracles!!!
Edward A. Harris
Freelance Journalist, Real Estate CyberSpace Specialist (RECS)
Email: eaharrisdestiny@gmail.com
Websites: http://www.stluciasimplybeautiful.com http://www.brainstorminggroup.webs.com http://www.americasrealty.com
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