Business_Supplement_2020

September 30, 2020

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BUSINESS SUPPLEMENT Wednesday September 30, 2020

Every business affected as COVID-19 ‘bites’

BY NAVENDRA SEORAJ

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UYANA’S small operational economy has made it virtually impossible for businesses, both small and large, to dodge the widespread direct and indirect effects of the novel coronavirus (COVID-19) pandemic.

The necessary restrictions in place to curtail the spread of the disease, as seen in countries across the world, have “slowed down” the economy because businesses either reduced their productive hours or are closed indefinitely.

Unlike other countries, Guyana was faced with the effects of a protracted electoral process which started on March 2, 2020, and ended only on August 2, 2020.

Available information on the performance of the country shows that the oil economy grew by 45.9 per cent, but the non-oil economy, which com-

-Investments delayed but not lost says Go-Invest CEO

negatively impacted…Guyana has a very small operational economy, so once you have that (pandemic), any contraction caused by anything, affects everybody.

“Many of the businesses are micro to small, so you could imagine the great degree of difficulty the pandemic can cause…I believe it will be difficult for those businesses to bounce back unless there is some kind of support mechanism in place for businesses to recover.”

Small businesses are often referred to as the lifeblood of any economy because they give entrepreneurs the opportunity to create meaningful jobs and foster local economies, allowing money to stay closer to communities.

Throughout the world, many persons have gone out of business because of the four-

had indicated that they had to close completely because of the pandemic.

This, he said, was due mainly to the established guidelines which allowed only essential businesses to operate.

“It is difficult to maintain any semblance of business if you are going to be locked down for so long…We are in trouble when it comes to small businesses,” Dr. Porter lamented.

Some businesses, in recognising the decline in economic activities and imminent difficulties, have shifted to other activities.

Dr. Porter said persons in construction moved to poultry and livestock rearing while others moved to delivery services.

“Who were able to survive, barely did,” said the CEO, adding that businesses will have a

CEO of Go-Invest, Owen Verwey

an opportunity for prospective small business owners to access loans and grants.

In recognising the importance of small businesses to the commercial sector, government has already allocated $100 million to the Small Business Development Fund, which is managed by the Small Business Bureau.

CEO of the Small Business Bureau, Dr. Lowell Porter

prises the traditional, labour intensive sectors, shrunk by 4.9 per cent in the first half of the year.

In painting a simpler picture of what occurred in the local economy, Chief Executive Officer (CEO) of the Small Business Bureau (SBB), Dr. Lowell Porter, said: “Businesses, both large and small were

five months of ‘lockdown” caused by the COVID-19 pandemic. This has been the case in developed nations, so Dr. Porter said it was even worse for Guyana.

The bureau had recently conducted an online survey which received 243 responses from small businesses. And, of those responses, 63 per cent

bumpy road ahead unless there is immediate intervention.

To this end, he said government is already examining a relief programme, but it will take at least a year before there is any semblance of ‘restoration.’

The bureau already has approximately 10,000 businesses in its database, and the development fund will create

DELAYED INVESTMENTS Even though the economy remains turbulent because of COVID-19, CEO of Go-Invest, Owen Verwey believes there is still hope because investments have not been lost, but simply delayed.

“Like everywhere else, 2020 had an impact on the decision-making here, for those who were looking to make investment,” said Verwey.

He admitted that there has been a delay and ‘slowing’ of investments, but the Guyana market because of oil and gas and the country’s large growth potential, has managed to encourage businesses to delay their investment instead of cancelling it altogether.

This remains the case even though the tourism sector, food production and even the construction industry have taken a hit because of COVID-19.

There is no doubt that businesses have struggled to break even; persons have lost their jobs and even their livelihoods, but President Dr. Irfaan Ali had committed to getting the

economy back on track, starting with the implementation of measures and projects included in the $329.5 billion 2020 budget which was passed in the National Assembly last Friday.

“The budget has positive things to help in making a robust rebound to the economic activities in this economy,” said Verwey.

Progress is expected on all fronts said President Ali, noting that 2021 will be the year of investments and development.

“What you will see next year is a flurry of development… there will be active work on the new Demerara Harbour Bridge, the new fourlane road, new hotels and the creation of 50,000 homes,” said the President, following an inspection of the site for the new harbour bridge, on Saturday.

He said work will commence on the construction and rehabilitation of roads in hundreds of communities; new infrastructure will be created; and there will be major developments in every sector.

Additionally, private-sector investments are expected to increase, stretching from the construction of new shore bases to service the oil-and-gas sector, to new office complexes and other private development projects.

The President anticipates that, with increased construction, there will be an increased demand for quarry and construction materials and labour.

Budget 2020 includes a $25,000 cash transfer to every household; a $15,000 cash grant and a $4,000 uniform voucher for schoolchildren; $800 million for the Amerindian Development Fund; $5 billion for the Guyana Sugar Corporation (GuySuCo); a two-week, tax-free bonus for members of the Joint Services; and $150 million for frontline workers, among many other benefits.

President Ali had also said that the government, after re-prioritising and re-programming fiscal measures, has managed to add $20 billion in relief to the “pockets” of Guyanese at a time when the nation is faced with the effects of COVID-19, and the recently-concluded protracted electoral process.

The conduits of relief include revised tax measures and sweeping incentives.

The broad objectives of those measures which feature in government’s emergency budget are to stimulate economic activity; get persons back to work; increase Guyana’s productive capacity; reduce the cost of doing business; improve efficiency; and facilitate growth and development of businesses.

The private sector is expected to play an integral role in driving economic growth, but the extraordinary circumstances created by COVID-19 have been discouraging in some cases, said stakeholders from the sector.

BUSINESS SUPPLEMENT Wednesday September 30, 2020

‘Down but not out’ -COVID-19 puts ‘dent’ in businesses, but

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resilience remains the order of the day

URVIVING the effects of the novel coronavirus (COVID-19) pandemic has been no easy task for businesses, but those who made it this far have credited resilience and innovation for their ‘survival.’

The necessary measures, which were implemented to curb the spread of the disease, have forced businesses to downsize and even close completely in some cases. But this was not the case for Andy’s Auto Electrical Services and Repairs which managed to stay open despite the reduced commercial activities.

“We did not let anyone off because, at the end of the day, everyone got to live…we did not cut any pay and let anyone off,” said owner of the ‘auto shop’, Andy Mohamed, during an interview with the Guyana Chronicle on Tuesday.

The proprietor said he has

with my business, customers only come when it is an emergency,” said the proprietor.

Some customers have even been restricted because of the national curfew which was implemented as part of the COVID-19 control measures.

But the curfew has also affected businesses.

“Well basically stores open up to a certain time, so whatever we are doing, we have to hurry and get it done…we had to do a lot of adjustments to survive…we might not make high profit, but we were able to contain and keep workmen because everyone has to live,” said Mohamed.

Innovating and adjusting do not apply to the business methods alone, but they also apply to the safety measures adopted by the proprietor and his employees. Like the ‘new norm’ in every large or small organisation, Mohamed said

An auto electrician getting down to business while exercising caution with COVID-19 (Adrian Narine photo)

managed to keep his business afloat even though the profits have reduced significantly.

Mohamed has been in the business for over 20 years and, while he has experienced “rough days,” this year has been the worst because of the pandemic.

“The past eight months have been tight because COVID-19 caused a lot of places to close due to the reduction in customers…even

his employees have to wear their masks and there are always sanitisers available.

Such safety precautions remain especially important in the food industry. And, owner of ‘The Grill,’ Gregory Camacho, has done everything to ensure that those precautions are taken and encouraged at his establishment.

“Social distancing is a must…persons do not come into the cafeteria area…they

This person was equipped with a mask while browsing items at Courts on Tuesday (Adrian Narine photo)

line up outside and wait their turn…a lot of persons have adapted to it so there are no arguments or anything,” said Camacho.

In order to ensure his measures are implemented properly, the proprietor even takes it on himself to arrange seating for outdoor dining. Most of his business, however, remains a “take-away” service.

The businessman said some of the measures and even the prevailing situation have not been favourable for business, but he has managed to retain his staff and keep the business going.

“When they first had the curfew at six, it did not make sense open, so I closed off and send the staff on their annual leave and I continued to pay

BY NAVENDRA SEORAJ

them for six-eight weeks, then I decided to reopen because it was rough to continue paying them…money had to come from somewhere,” said Camacho.

In his over 19 years of

doing business, the proprietor has never experienced a period like this, one which saw his business dropping by more than 50 per cent. And, although the pandemic ‘dented’ his business, Camacho still has hope and will

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UYANA is focusing on improving its ease of doing business, as the country contends with the COVID-19 pandemic, but prepares for post-pandemic recovery and development.

“Doing business in Guyana is way, way too difficult, in terms of the international comparison or even in terms of the Caribbean comparison,” Trinidadian Senior Economist, Dr. Roger Hosein, lamented, in an exclusive interview with the Guyana Chronicle.

Dr. Hosein explained that Guyana must do its “homework” on how to improve the ease of doing business here; if the country is successful in this bid, greater private capital

BUSINESS SUPPLEMENT Wednesday September 30, 2020

‘Ease of doing business’

By Vishani Ragobeer must be examined

injection and foreign capital injection will be facilitated.

Moreover, the country would be better poised to target

-Trinidadian economist says Guyana must do its ‘homework’, be ready for post-COVID-19 its diaspora to help boost economic activity by direct participation, human capital formation, or financial capital flows.

A country’s ease of doing business is determined

through the use of numerous indicators. These include: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors,

paying taxes, trading across borders, enforcing contracts, and resolving insolvency.

Each country is given a score for each indicator, and then, an overall ease of doing business ranking. According

to the World Bank’s Doing Business Report for 2020, Guyana was rated 134 out of 190 countries in terms of the ease of doing business. It is important to note that this ranking was made known since October 2019, months before the novel coronavirus, COVID-19 began spreading around the globe, resulting in significant disruptions.

Guyana’s highest rating88 out of 190- is for the individual indicator of protecting its minority investors. The lowest rating for Guyana170 out of 190- is for getting electricity.

Cognisant of Guyana’s rating, from the onset, at his inauguration speech, President Irfaan Ali signalled his government’s intention to enhance the ease of doing business.

He highlighted its intention to create a Single-Window Clearance System, geared at reducing bureaucracy and the cost of doing business. Then, he explained that this new system will make it easier for local and foreign investors to start-up and establish businesses in Guyana.

In a recent interview with the News Room, the President also indicated that he was targeting another indicator- construction permit. He disclosed that the government was working on a single-window application process for these permits, to streamline the process.

“So when you have to build a building, you don't have to go to [Central Housing and Planning Authority], you don't have to go to health, fire, environment, city council- that sometimes takes four years,” the President lamented.

“There must be a single-window approach in which you take your application in one location, it is disseminated and timelines are put so that we can reduce the time of approval to about three months,” he emphasised.

AGRICULTURE Dr. Hosein also noted that Guyana can play a more active role in intra-regional trade if it improves on its ease of doing business.

“Guyana is an important food producer in the Caribbean region and the COVID-19 would have perhaps increased the potential and the capac-

ity of Guyana to become an even greater player within the Caribbean region in terms of food production,” the economist said, emphasising, “It should not lose the opportunity.”

At a recent stakeholders’ forum, Minister of Agriculture, Zulfikar Mustapha, related that one of the six main challenges affecting the agro-processing industry was the poor coordination among enabling agencies and the Ease of Doing Business.

To remedy this, the Agriculture Ministry in collaboration with the Guyana Manufacturing and Services Association (GMSA) will formulate a joint technical working group to coordinate among the private and public sectors to improve efficiency.

The group will work with key agencies such as the various agencies under this Ministry such as the Guyana Marketing Corporation (GMC), National Agricultural Research & Extension Institute (NAREI), Guyana Livestock Development Authority (GLDA) and the Food Safety Authority; the Food and Drug Department; Guyana National Bureau of Standards (GNBS); GOINVEST; and, the Guyana Revenue Authority (GRA). ‘ “This sector is too important to Guyana for us to allow it to be left behind,” Minister Mustapha stressed. “Agriculture has always been an important contributor to our economic growth and social development. It contributes 20 per cent to the national GDP, approximately G$70 Billion to the foreign earnings, and employs 17 per cent of our population.”

It is important to note that, in spite of COVID-19, Guyana’s economy was projected to grow by 52.8 per cent this year, largely due to its nascent oil and gas sector.

This growth projection was initially pegged at 86 per cent; this was, however, revised after the less-than-usual global demand for oil due to the COVID-19 pandemic, and the oil-price war between Russia and Saudia Arabia. While the economy is projected to grow, and escape the regional recession resulting from the ramifications of the pandemic, the business climate must also become more conducive.

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BUSINESS SUPPLEMENT Wednesday September 30, 2020

‘Necessity’ driving innovation among private schools

By Tamica Garnett

AS the novel coronavirus (COVID-19) rippled from country to country ,‘ballooning’ into a pandemic, one of the first measures that Guyana took, after the first COVID-19 death was ‘registered’, was the immediate closure of schools countrywide.With the government coffers at its disposal, the Ministry of Education (MoE) was able to ensure that teachers and other auxiliary school staff were

-Institutions say maneuvering COVID-19 remains a challenge

to even break even. The expenses are extremely high.”

With necessity being the “mother of innovation,” as the private schools faced the possibility of having to retrench staff, or even close up their business, some of them turned to technology for their viability.

Quickly adapting, the private schools began utilising interactive learning platforms such as

large companies are battling more so medium companies like private schools. I would have been hoping for the possibility that the government could look at us and see the need for help, especially those schools who over the years have produced exceptional students.

There is need for some form of help,” Chase lamented.

Many of the schools saw severe loss in revenue. And, even

ents have gone through serious economic issues and have found it challenging to maintain their commitment. We’re still looking on that before we can see how we will be for the financial year.

Everybody has suffered through COVID, very few people I’m sure have been unaffected,” O’Toole related.

Nonetheless, he estimates that things may very well be in the red

Director of New Guyana School, Alfonso De Armas

Principal and Director of Chase Academy, Henry Chase, says it has been a really tough year of business for the private school

paid, but the situation was not the same for academic institutions in the private sector.

Those institutions were “stuck between a rock and a hard place,” having to decide how to charge customers for a service they could not provide in the traditional mode, and retain teachers and other employees.

“The impact of COVID-19 was, for us, really, really substantial, and would have wiped out any profits and would have moved us over into loss territory actually,” said Director for the New Guyana School, Alfonso De Armas, adding: “Many people think private education providers make tons of profit but speaking from experience, it took us years

Zoom, Edmodo, Google Meetings, Google Classroom and Abeka Academy, as well as social media platforms such as Whatsapp to engage learners and administer classes.

Some of the schools began re-engaging learners virtually, as early as one month after the closure.

But as the solutions came so did the problems. Even as the private schools figured out a way forward, with the economy declining and disposable income running low, many parents found it difficult to pay school fees.

Parents of learners started mounting pressure on private schools to reduce their fees. Several private schools, following the move by parents, announced

discounts in light of the new arrangements.

“It was a dilemma of whether to allow parents to not pay fees or don’t pay staff. But we have an obligation to our teachers; fortunately the majority of parents understood.

“We understand what is happening with the pandemic but I didn’t want to be in the position where we can’t pay staff. There were those who were very determined not to pay, but in the end things worked out,” said Henry Chase, Principal and Director of Chase Academy.

Chase said he is happy to be able to maintain his full staff complement, paying them their salaries as per normal.

“Fortunately, we were able to hold on to all our teachers. I had to make personal sacrifices and I ensured that my staff received their full salaries and so on,” said the principal.

As rough years go for the private school business, Chase Academy has experienced its

worst. Even as the school faced the reduction in revenue, in August a fire destroyed a section of the school’s building.

“It was really tough, I have never had a year like this. I am hoping that things will get back to normal hopefully for the New Year,” said Chase.

Despite the odds, Chase remains upbeat and very much ready to rebuild his institution, in more ways than one. He is also confident that his school’s brand speaks for itself and customers will continue to come in.

BOUNCE BACK “We are going to bounce back.

Chase Academy is out there. Parents know what we do here,” he said.

The principal is hopeful that perhaps government may be able to step in and help private schools.

He said while his institution has been fortunate enough to stay afloat in the “sea of COVID-19 struggles,” there are other schools that have not been so lucky.

“It has been a year where even

Director of School of the Nations, Dr. Brian O’Toole

though some of the schools offered discounts to parents, many persons struggled to afford school fees. Some parents even “gave up” altogether and simply withdrew their children from the schools.

Aside from lost revenue, some of the schools were already taking the hit by maintaining staff salary, even in light of the discount.

“We’re absorbing the 20 per cent; we’re trying hard not to pass it on, or reduce staff salaries and such,” De Armas said of the situation at the New Guyana School.

STILL ASSESSING At School of the Nations, Director Brian O’Toole, said the school is still assessing its losses.

“It’s a bit early to know, but the reality is a number of par-

when it is all said and done.

“Some people will look at Nations and say ‘oh you’re saving a lot of money because people aren’t coming in’, but the savings are negligible because the real expenses are the salaries. We’ve maintained our full complement of staff,” he shared.

O’Toole noted that even as the pandemic brought on new challenges, the school prided itself on maintaining a high level of quality, which he is banking on to help the institution weather the COVID-19 storm and come out all the stronger when it’s all said and done.

“What we tried to do is maintain a quality service. We’ve seen a number of parents from other private schools and public schools come across,” he said.

Chart for Page 4 Story

Doing Business in Guyana rankings from the World Bank

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BUSINESS SUPPLEMENT Wednesday September 30, 2020

Disney to lay off about 28,000 parks unit employees due to coronavirus hit

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ALT Disney Co. said, on Tuesday, it will lay off roughly 28,000 employees, mostly at its U.S. theme parks, where attendance has been crushed by the coronavirus pandemic, especially in California where Disneyland remains closed.

About two-thirds of the laid-off employees will be parttime workers, the company said in a statement.

Disney shut its theme parks worldwide when the novel coronavirus began spreading this year. All but Disneyland nicknamed the Happiest Place on Earth - reopened, though the company was forced to limit the number of visitors to allow for physical distancing.

“We have made the very difficult decision to begin the process of reducing our workforce at our Parks, Experiences

and Products segment at all levels,” Josh D’Amaro, chairman of the parks unit, said in a statement.

He cited the parks’ limited capacity and uncertainty about the pandemic’s duration, which he said was “exacerbated in California by the state’s unwillingness to lift restrictions that would allow Disneyland to reopen.”

In a letter to employees, D’Amaro called the move “heartbreaking.” He said management had tried to avoid layoffs by cutting expenses, suspending projects and streamlining operations. The company had continued to pay health benefits for furloughed workers since April.

“However, we simply cannot responsibly stay fully staffed while operating at such limited capacity,” D’Amaro said.

Walt Disney World in Florida had employed 77,000

full- and part-time workers before the pandemic, while Disneyland in California employed 32,000. Disney did not disclose how many other U.S. employees work in the parks unit, which includes consumer products, cruise lines and other businesses.

Last week, Disney urged California officials to issue guidelines that would allow Disneyland to welcome visitors again.

On Tuesday, Dr. Mark Ghaly, California’s health secretary, said the state had taken a science-based approach to reopening that aimed to “minimize the health and economic risks that would be caused by opening and shutting repeatedly.” (Reuters)

‘Down but...

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No mask, no entry! The Grill has established strict guidelines to prevent the spread of COVID-19 (Adrian Narine photo)

be placing emphasis on outdoor dining since this is legal.

“We will have stuff in place for social distancing and it will be strictly outdoor dining on a small basis and I will assess the situation and increase seating accommodation accordingly,” said the proprietor.

Maintaining space and reducing physical contact are also the foci of Unicomer Guyana (Courts), which has employed alternative methods such as social media communication, among other things.

Director of Commercial Operations of Unicomer, Laverne Bakker, told this publication that the company has

been affected tremendously by the pandemic, but has shifted most of its operations to digital platforms in order to reduce physical contact.

The company has been using Whatsapp, Facebook and social media platforms to stay in contact with customers and even push promotions.

Unicomer has also been working with customers, especially those struggling with payments, to access loans and other options.

“We do not want to lose customers or staff, so we have employed measures to retain staff and retain customers,” said Bakker.

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BUSINESS SUPPLEMENT Wednesday September 30, 2020

Protecting employees a top priority for ‘Barakat Timbers’ -company’s owner says businesses must balance ‘caution’ and ‘profits’

Owner of Barakat Timbers and Trading Company, Edward Nizam Barakat

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UMAN resources are a vital asset to any organisation, so the protection of workers must remain a top priority, especially amidst the dreaded novel coronavirus (COVID-19) which has infected, locally, over 2,000 persons and claimed 78 lives.

“It is important during the pandemic to remember the dedicated efforts of long-standing staff members who have made your company grow during the blooming economic times,” said Owner of Barakat Timbers and Trading Company Limited, Edward Nizam Barakat, during an interview with the Guyana Chronicle, on Tuesday.

By Indrawattie Natram

Barakat Timbers and Trading Company Limited located at Charity, produces lumber for furniture, building construction, marine construction, and industrial construction and railway cross-ties.

The owner of the 50-year-old logging company said his company has placed emphasis on protecting workers amidst the dreaded disease. Although the company has downsized by 35 per cent, Barakat said provisions have been made to ensure that employees are protected.

Barakat said he was forced to send his employees on ‘no-pay leave’ in March, when the pandemic reached the shores of Guyana.

“During that one month, employees were provided

with groceries to sustain their families. In April the workers again stayed home for three weeks, but they were paid,” said the proprietor.

The businessman, however, said that although the humanitarian side of the company ‘kicked into overdrive,’ management had to make critical decisions in order to maintain profitability.

“It’s the worst year in business, really tough since we tried helping but we have to keep only the dedicated staff… right now we are just running on our reserve funds,” the businessman said.

Barakat told this publication that 90 per cent of his products are usually exported to the Caribbean and the United States of America, but those export markets are unavailable due to the nec-

One of the many workers who remained resilient through the pandemic

essary COVID-19 control measures instituted across the world to stop the spread of the dreaded disease.

Despite the mounting challenges facing the company, the businessman said his business remains positive, as the reserve funds are ‘subsidising’ his operations.

Fortunately, he has received orders within the last two weeks, so the businessman is hopeful that there could be a break-even.

“In 50 years we never faced this, this is a real test for all of us. I am happy that my staff is mentally strong and we will continue to support them,” Mr. Barakat said.

Sam Melville, who has been with the company over 33 years, said he is happy that his employer decided to keep him on so that he could feed his family. Melville thanked the company for taking care of him during the pandemic.

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HE spread of the novel coronavirus (COVID-19) and its resulting pandemic have devastated the business sector, resulting in a slowdown of productivity and a loss of jobs. Despite this, two young local entrepreneurs have found a ‘sweet’ opportunity to start their own businesses.

Shikeade Griffith, one of the two entrepreneurs, is a fourth-year medical student at the University of Guyana (UG). Though she is wholly committed to being able to save lives as a doctor, medicine is not her sole passion. In fact, years ago, she also thought about becoming a nutritionist, dietician, or perhaps owning a bakery.

Strangely enough, the pandemic was the catalyst that helped her to get the best of both worlds.

“Simply put, I just had a feeling.

I thought to myself, you've wanted to do this for so long, you're at home and that's a big advantage…why not now?” Griffith told the Guyana Chronicle, adding: “And from then, I just got started. I did an impromptu Father's Day Sale and I haven't looked back since.”

In July, Keade's Bakery was born and the young ‘med’ student has since been operating from her home-kitchen, making cheesecakes, brownies, cupcakes, and other sweet treats.

Similarly, there are Hidaayah Sweets and Treats, which was started by another UG student, Aliyyah Anderson in June.

“I started it because I had wanted to do something in my spare time while at home since UG would remain closed for a while. So I took a chance and invested my money in some equipment,” Anderson said.

Though she had a knack for baking and was willing to invest her time and funds into the new venture, she was cognisant that the market for baked delicacies was a saturated one. And, at that time, the

BUSINESS SUPPLEMENT Wednesday September 30, 2020

A ‘sweet’ opportunity

By Vishani Ragobeer

Young entrepreneurs find opportunity amidst COVID-19 pandemic Shikeade also placed much emphasis on differentiating her

For Shikeade, the implementation of the curfew resulted in a

Aliyyah Anderson

busin e s s from the competition; her goal was to make her cheesecakes heavier and creamier than the rest- even if it required more ingredients, and increased the price.

shorter window of time to deliver her goodies. This affects the number of customers she has and hinders the face-to-face interactions she can have with them.

“However, to be a bit more positive, being home gives me the opportunity to make and distribute my products at any time of the day instead of having to make them on a time crunch in either the morning or night, which would be the case if I was having my classes at the hospital,” Griffith reasoned.

Aliyyah, on the other hand, highlighted that there has been a shortage of specific ingredients- such as cocoa powder, baking chocolate,

This shortage resulted from other home bakers “stocking up” on supplies. As the laws of supply and demand dictate, prices for the goods increased as goods demanded were more than the goods being supplied.

The Hidaayah Sweets and Treats owner related that it became difficult for her to make a profit, initially.

“Cost of goods don’t necessarily hinder me anymore because I choose to make other items that do not require those ingredients or what I did for a while was buy

Aliyyah’s signature pudding from Hidaayah Sweets and Treats

and store them until I choose to use it later on,” Aliyyah said.

Shikeade Griffith

competition was steadily increasing.

But as any good entrepreneur would do, she found her own niche to tap into and exploit.

“I started making products that were different from others [and] I developed a few of my own recipes,” Aliyyah said. Eventually, her signature product became puddings, a treat that differed from the usual sweet treats and baked goods populating the market.

“I don't intend to just do what everybody else is doing. I like to stand out,” Shikeade said.

CHALLENGES Even though the pandemic provided some leeway for the UG students to start their businesses, and they found ways of differentiating themselves, they still had to contend with the inescapable challenges of the pandemic.

heavy cream, and some imported fruits.

Another factor to consider is the support network of business owners, particularly cognisant of the effects the economic shocks caused by the pandemic would have on the supply and demand of products and services.

For both Shikeade and Aliyyah, they took to social media to promote their businesses and the items they sold. And while “likes” and “shares” are of no cost to friends and supporters, they go a far way in promoting the businesses.

A chocolate cheesecake creation from Keade’s Bakery

SUPPORT

“From the moment I post my flyer on WhatsApp, Facebook or Instagram, my friends immediately repost them,” Shikeade said. There is a disconnect, however, between online support and actual purchases.

Aside from the monthly sales, she tries to engage in, Shikeade is keen on incorporating fundraisers into her business. In August, she had her first fundraiser, where she assisted a friend with raising her tuition to study abroad. In November, she is hoping to have another; at this fundraiser, the proceeds will go towards purchasing tablets for children who are unable to afford them.

Shikeade’s sweet treats can be seen on her Facebook page: "Keade's Bakery" and the Instagram page @keadesbakery.

Aliyyah’s goodies can be found on her Facebook page: “Hidaayah Sweets and Treats” and on Instagram @hidaayahsweetsgy