"ENTREPRENEURIAL SURVIVAL SKILLS IN THE MIDST OF ECONOMIC CHAOS" AN ANALYSIS OF SMALL BUSINESSES PRIOR TO THE GENERAL ELECTION OF 1992 IN GUYANA

M. Raghunanda
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M. Raghunanda: Department of Management Studies, University of the West Indies, West Indies

Journal of Enterprising Culture (JEC), 1995, vol. 03, issue 04, 463-482

Abstract: It is generally agreed that small businesses tangibly contribute to both the stability and health of the national economy. They employ more than 25% of the workforce, produce on an on-going basis a tidy revenue for the state and create more than 50% of the new jobs. The pioneers behind these businesses are the entrepreneurs who understand the organizations' purpose and can best devise methods to exploit the windows of opportunities.This paper reviews several pieces of literature on small businesses in Guyana in order to provide an understanding of the entrepreneurial survival strategies employed to keep the businesses open. Studies show that entrepreneurial behaviour, management skills and competence were key ingredients in the successful operation of small businesses in Guyana.The results indicate that twenty four entrepreneurial routes were successfully followed to float small businesses prior to the Guyanese 1992 general election. The paper concludes by making some pronouncements on the future of small businesses in Guyana and supports the drive for the state to empower the entrepreneurs and the people for development.

Date: 1995
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DOI: 10.1142/S0218495895000246

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