Minister Hamilton urges formation of Co-op in St. Deny’s/Tapakuma

-can be used to fund projects

Minister of Labour, Hon. Joseph Hamilton has encouraged residents of St. Deny’s/Tapakuma to establish a Co-operative Society which, he said, could be used as a vehicle for financial empowerment.

The small Amerindian village is located on the Essequibo Coast, in the Pomeroon-Supenaam (Region Two).

During an outreach to the Region at the weekend, Minister Hamilton engaged residents on the many opportunities available that would enable job creation and develop the village economy.

The Minister said the Village Council can form a Co-op Society, which can access funding for community ventures through the Small Business Bureau (SBB) and other agencies, as well as benefit from training by the Board of Industrial Training (BIT).

“Co-op societies, many of them fail, not because they don’t have assets and finance, but the issue of management of Co-operative Societies. A Co-operative is a business like any other business and so, it has to be managed.

People have to know the accounting issues, the financial issues, they have to know about the book keeping and investments,” he told the residents.

Minister Hamilton explained that registered Co-operative Societies are catered for in the Small Business Act of 2004 and therefore, can tender for contracts and provide products and services to the Government.

The Small Business (Amendment) Act 2020, allows for small businesses to access at least 20 per cent of Government’s procurement of goods, services and works.

“If this community is building a government building, maybe a health centre, someone should not have to come from Anna Regina and build it.

I see that as something that should not happen. I believe the communities should be empowered so that they can do it,” Minister Hamilton said.

The Minister has committed to ensuring the community receives the necessary support to develop a full-fledged Co-operative Society. The region’s Co-op officer will lead this process.