Monday 22/07/2024 - 💼Diaspora Job Fair To Boost Local Economy

⏱️ 5 minute read

Hi, reader

Today we explore pivotal developments from the inaugural Diaspora Job Fair in New York to strategic business opportunities arising from Guyana's booming oil sector and infrastructural expansion. Dive into how these changes are shaping local and diaspora engagements.

Here’s what you can expect:

Today's Proverb: 

"The frog does not drink up the pond in which he lives." - American Indian

Meaning: Do not deplete the resources you depend on, advocating for sustainable business practices and corporate responsibility.

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Inaugural Diaspora Job Fair in New York Attracts Prominent Guyanese Companies 

An inaugural Diaspora Job Fair is set to take place on July 27 at the New York LaGuardia Airport Marriott, featuring numerous leading Guyanese companies. This initiative follows a commitment by President Dr. Mohamed Ali to enhance the connection between the Guyanese diaspora and local industries. The fair aims to present career opportunities to Guyanese professionals considering returning to Guyana and will include sessions on investment, housing, and educational opportunities. The job fair emphasizes the government's strategy to integrate the skills of the diaspora into the national development process.

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Sports Sponsorship Boosts Local Cricket Tournament 

Corporate support is surging for the Kares One Guyana T10 Tapeball Blast, with Trophy Stall and General Marine stepping in to sponsor trophies and titles. The cricket tournament, which begins on August 3, will feature 32 teams competing for a prize pool that includes G$1.5 million for the winners. This support underscores the local business community's commitment to sports development and community engagement in Guyana.

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Business Opportunities Based On Today’s Developments

Small Enterprises

  1. Local Event Management & Promotion: Given the upcoming Diaspora Job Fair in New York, small businesses could leverage the increased attention on Guyanese professionals abroad. Services could include event planning, local networking meetups, or webinars pre-and post-event to maintain engagement and facilitate networking opportunities.

  2. Specialized Transportation Services: For small enterprises, providing specialized transport services for events like the cricket tournament could be lucrative. This includes shuttle services for teams, equipment transport, and even tailored travel packages for fans attending the matches.

  3. Craft and Souvenir Production: Tapping into the national pride at sports events and diaspora gatherings, small businesses can produce and sell cricket-themed crafts, clothing, and other memorabilia, both locally and online targeting the diaspora community.

Medium Enterprises

  1. Professional Training and Recruitment Services: Medium-sized firms can develop training programs that hone the skills of local professionals to meet the demands of the diaspora returning with expectations of certain professional standards. Additionally, offering recruitment services to connect trained professionals with employers participating in the job fair could create substantial business opportunities.

  2. Infrastructure Development Projects: With ongoing developments like the expansion of roadways and public utilities, medium enterprises with capabilities in civil engineering, construction, and project management have significant opportunities to bid on government contracts or subcontracts.

  3. Digital Marketing Services: There is a clear opportunity for medium enterprises specializing in digital marketing to assist companies in enhancing their online presence to effectively reach both the local population and the diaspora, particularly around large-scale events and infrastructure projects.

Large Enterprises

  1. Investment in Infrastructure: Large enterprises could look into significant investments in the infrastructure projects mentioned, such as the road expansion from Canje Bridge to Moleson Creek. These projects not only require substantial capital but also offer long-term benefits through government and private sector partnerships.

  2. Tourism and Hospitality Development: With the government's focus on developing new cities and enhancing sports facilities, there is room for large enterprises to invest in hotel chains, resorts, or other tourism-related businesses that can cater to an international audience at sports events and other large gatherings.

  3. Technology and Innovation Hubs: Given the push towards modernizing infrastructure and the potential influx of skilled diaspora members, large enterprises could invest in technology and innovation hubs that foster startups, particularly in areas like clean energy, information technology, and sustainable agriculture.

Notes and Thoughts

  • Sustainability Focus: Regardless of size, businesses should incorporate sustainable practices into their operations, especially when engaging in infrastructure and tourism, to align with global standards and attract international partnerships.

  • Local Engagement: Enterprises should focus on engaging local communities and workforce to foster goodwill and sustainable business practices, which can be particularly appealing to the diaspora looking to invest or return home.

  • Leveraging Technology: Across all sizes, businesses can leverage technology to streamline operations, enhance customer engagement, and scale their services, especially in areas like e-commerce, digital marketing, and remote service delivery.

These opportunities are designed to align with current trends and the specific economic activities highlighted in the news, providing a strategic direction for business development across different scales.

Side Hustle Ideas Based On Today’s Developments

1. Local Tour and Experience Coordinator

With an increase in international visitors, including the Guyanese diaspora, and professionals attending job fairs and other events, there's an opportunity to create unique local tours and experiences. This side hustle could focus on:

  • Cultural and Heritage Tours: Design tours that showcase Guyana’s rich history, culture, and natural beauty. This can include city tours, visits to historical sites, and nature excursions.

  • Expat and Diaspora Welcome Services: Offer orientation services for the Guyanese diaspora visiting or moving back to the country, including neighborhood tours, introductions to local businesses, and cultural integration workshops.

  • Event-Based Experiences: Tie in with large events, like sports tournaments or business conferences, to offer tailored experiences such as pre-event meetups, local cuisine tasting sessions, and post-event relaxation packages.

2. Digital Content Creation Focused on Business and Development

Given the rapid economic development, there's a niche for creating digital content that caters to local entrepreneurs, investors, and the international business community interested in Guyana's growth. This could include:

  • Educational Webinars and Workshops: Conduct online sessions that teach skills like digital marketing, e-commerce, or sustainable business practices.

  • YouTube Channel or Podcast: Start a channel or podcast focusing on interviews with business leaders, tutorials on starting a business in Guyana, and updates on development projects.

  • Newsletter Publishing: Produce a high-quality newsletter that provides insights, news, and analysis about the Guyanese economy, with a focus on opportunities emerging from the oil sector and infrastructure projects.

3. Freelance Project Management and Consulting

For professionals with experience in engineering, construction, or business, freelance project management or consulting can be a lucrative side hustle. This role could involve:

  • Infrastructure Projects Consultant: Offer expertise on local regulations, project management, and environmental compliance for incoming international firms or local startups.

  • Business Setup Advisor: Assist diaspora members or locals in setting up new businesses, focusing on navigating legal requirements, market research, and business planning.

  • Environmental Compliance Consulting: Specialize in advising companies on how to comply with local environmental laws and regulations, an increasingly important area with the expansion of oil and other industries.

Notes and Thoughts

  • Scalability: Each of these side hustles offers the potential to start small and scale up as the business grows and as the entrepreneur becomes more established in their niche.

  • Digital Integration: Leveraging digital tools and platforms will be crucial in reaching a broader audience and maximizing efficiency in each of these side hustles.

  • Networking: Building a robust local and international network will be vital for success, especially in consulting and content creation, where reputation and credibility are key.

These side hustle ideas are designed to leverage Guyana's unique position as a rapidly developing economy with increasing global attention, providing substantial side income opportunities for enterprising individuals.

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