Managing Director of the National Bank of Dominica (NBD), Ellingworth Edwards, has lamented the unwillingness of veterans within the private sector to mentor young entrepreneurs.
Speaking at the Annual General Meeting (AGM) of the Dominica Association of Industry and Commerce (DAIC), Edwards stated that development within the sector is hindered because its members are hoarding information.
“It is very sad, therefore, that there seems to be a feeling of unwillingness to mentor and to share knowledge, which is stifling the sector,” he said. “Members within the sector are hoarding information;[they] will not share information .”
He advised that members instead unite for success.
“It seems that that kind of attitude is prevailing, and it is something that we would have to stamp out as quickly as possible. As singular businesses, we are just too small to go it alone,” Edwards articulated.
Edwards urged the DAIC to be a “bridge” for all businesses, through educating, advising, and mentoring those in need. He also encouraged the association to form alliances and greater partnerships with other organization.
He also highlighted the need for the DAIC to broaden and strengthen its membership base, and the relevance of the organization.
“Strength in diversity for DAIC should not only mean numbers—it should also mean the range of services,” Edwards remarked. “So, yes we can build the numbers and have everyone, but we must also build the services that we offer to them. And, by so doing, the DAIC will become more relevant.”
He asked that members of the DAIC be proud and supportive of the organization, and that the organization do its part to “stimulate and grow our struggling economy.”
Mr Edward, I admire your observation, however the banks in Dominica don’t make it any easier for young people. The fact that a loan approval still goes through a board who seats down and discuss who the the applicant is and who their parent are is so outdated. A loan application should now be computerized and approved within 24 hours based on ones ability to pay it back instead of two months after the board meets and decide to play favorite. There is a lot more I can say here based on my knowledge of the system but I’m sure preaching to the choir.
Mr. Edwards is speaking about the situation in Dominica based on what he sees. It is life in the 21 century,
and it is true in Canada as well. The reasons are understandable. People are just too busy (or think they are) to give their time. Or they take a mean attitude and say “I worked for what I have. Let them do the same.” Or they think “That is what schools are for” especially if they themselves are a product of the system.
The value of the older veterans to mentor young upstarts needs to be re-emphasized. In my father’s day, or my grandfather’s time the question would not be “What school did you take your trade at?” The question would be “Who did you train under?”
In a changing world there are going to be new challenges. The counsel of the veterans is of more value than ever. The senior workers should see this an opportunity to give back, and sow forward into the next generation.
Sincerely, Rev. Donald Hill. Evangelist.
DNO, why do you find it difficult to moderate my comment? It was written on Thursday, July 28th. Other comments for Friday July 29th were moderated.
I am puzzled why you did not moderate my comment. You must have a reason for this which I would like an explanation.
I am aware of some who access your Website and read the articles/comments but who never comment. I informed them they have very good reasons.
I am a busy person but I take the time to read the articles especially those which interest me and comment, free of charge. Why did you not moderate my comment before the July 29th ones? You deprive readers from reading my comments.
Sir, like others before us, our desperation and determination to get it done will forge the iron will which will rise to break the yolk of polite subjugation that you DOMINICAN intellects perpetrate against those who are lesser. it is this denial and deprivation which will serve as the fuel to outgrow that which you ALL are. In time you will see that no one can deny the power of creativity. you seem to think that you all have monopolized that which we are born and shaped in, the image of a creator..
Mr. Edwards needs to practice what he preach. He too is part of the problem.
Life is an ongoing growing and learning process to perfection. What are you doing for yourself, your country and other nationals?
What do you preach? Absolutely nothing! Why waste your time being critical? You are not helping the issue. You have nothing constructive to offer.
Some of your comments DNO moderate should never be moderated. They provide nothing constructive but silly opinions and of hatred. Those that are sensible DNO does not moderate that others could learn something from.
If I owned a Website, some of your ridiculous, nonsensical comments would never be moderated. They would be prohibited because they also debase the Website. They have nothing to offer.
Some of you lose sight of the reason for commenting which are to provide opinions, advice and suggestions that others could learn from and even the government. What you write provide nothing. It is of no help whatsoever.
You are so on point. History will show that he has always not been pro young people developmental he still is.
Comments should have read “You are so on point. History will show that he has always not been pro young people development and he still isn’t, that’s just talk.”
DAIC has just collaborated DYBT in the area of mentorship. It was on DNO!
Mr. Edwards;
you are indeed correct on one part. though there are many parts to this whole situation.
first of all the link to DSS and the retirement age is gonna cripple this country and the ripple effect woul;d be felt in coming years.
when someone has to work well beyond the age for normal retirement the effects are as follows;
– the younger generation cant move up the ladder to fill jobs where the older ppl are working well beyond the age of 60
– loans are based on the age of the one applying for terms. the minimum age a young person should look into having a house should be at 30. since mortgages are normally attached with a 30 year term. that would make it easier for the elders to retire at 60
– applying for loans; not all dominicans are fortunate to be with land titles and large sums of cash in hand from the get-go. yet still the wealthy benefit from the hard work of parents, but the less fortunate who have many brilliant ideas cant access these loans (TBC…
part 2
loans cant be access due to security requirements. These banks (Including NBD) should manage the business ideas and money lent to persons who have the skills and ideas to place them forward. otherwise these business ideas would and can be only implemented by the wealthy who already have money that can be used as start up capital.
– DAIC – these group of persons are together to place forth business ideas and shape the working world. but they should realize that its better to make money on quantity rather than just small numbers.
they need to come together and place a burden on the govt to lower taxes across the basic essentials of life.
1. food
2. clothing
3. shelter
a basic three bedroom house now would cost in excess of 350,000 for purchase of land and putting up a structure. lowered taxes would mean than the same house could cost as little as 230,000 making it within the reach of the average worker at HHV, Astaphans, SaveAlot etc
TBC
Contd;
the aspect of food; on the basic salary earned by a dominican; witch is approximate 1200 xcd a month. not much can be achieved with this. but with lower duties, the cost of living would be decreased tremendously.
1200 a month
– 450 to rent
– 280 for bills
– 300 for food
– 220 to COURTS, ASTA,
tell me now – where does that bring you to ? (Broke)
Clothing; i can agree to tax these a bit more for fashionistas etc
but the basic needs of a ppl should be affordable everyday
with these deduction we would see a bloom in the various industries in Dominica.
right now the way things are we live as Hands to Mouth.
i dont see room to expand !!
mr edwards. these notes come from a young thinking mind. !!
well said! and even we have all the requirements there is still some prejudice in giving the right people the loans who are operating there business surviving but just need a boost to expand and even contribute more to the economy. like they don’t see you up and down everyday playing your part.
LifeandDeath, the General Manager fits right into the category of one who is “averse to risks.”
very good observation!
DAIC is a worn out old dysfunctional organization and a closed shop. Mr Sam Raphael used to hold an annual 1 week entrepreneurial workshop. which has also fallen away. Indeed there is a need for mentoring of young business people. A sad state of affairs.
whilst the rest of your comment may bear merit, is it fair to say Mr Sam raphael’s annual workshop has “fallen by the way”? This implies some negligence of sorts. In reality his entire hotel was destroyed by TS Erika. Thus the means to host this program is understandably suspended.
Even though u think that u are 74 yrs. of age, u do not have 74 yrs of experience in mentoring u may have 45-50 yrs. of experience, I know that u are not 74
I’ve lost count of the number of times that I offered to share my 74 years of experience, via mentoring or other means, but hardly ever do I get a response from the agencies involved.
Then they turn a round and say they need experience. Shame isn’t it? How are they to gain experience and to progress if they do not receive help, in the form of mentoring?
Do they not know there is a joy, a special, internal satisfaction knowing that we help others and to achieve their goal? Many are thankful for that.
mr. burnette.
i am classed as one of the few young men who are ready. but this enviroment makes it difficult to perform in a country riddled with division.
read this comment and let us get in touch. your years of experience has a listening ear and willing hands that would like your legacy to move on
Regards
a young open mind
I’d be happy to help. You can reach me at 449 2550 or email: [email protected]
octopus:
I don’t know what line you are in but I like your attitude as expressed in the last paragraph.
Willingness to learn from those who have experience is a key to success. I expect you will do exceptionally well. Someday young upstarts will be learning from you. Please give them your time.
I encourage novices in any field to adopt the same stance and reach for the stars!
Sincerely, Rev. Donald Hill. Evangelist.
Where are the loans to private sector .
Well said Mr. Edwards..the veteran business men are closed minded regards mentoring the younger ones..They should even endeavor to capitalize start-ups as well, if the SMEs in Dominica are to grow..
Banks and Lending agencies have stringent requirements and ample red-tape to access Capital but there are several veteran business ppl that can bear a certain amount of capitalization for SMEs or simply to collateralize young serious entrepreneurs..You know that well ’cause you see how much money some of these guys have sitting in the Bank and not out there making more money..
A vast amount of Dominicans are also very risk averse so it’s a cultural thing too that need some discussion etc..by the way the DAIC seems like a secret society..are they actually training any young ppl?
You hit the nail right on the head. It is no exception in other countries. They fear giving and sharing, as if they will not get it back. Selfish people who lack trust. God will give it back to them for what they sow, to others, be it in Heaven. These people need to learn the ways of God – help one another. Did others not help them?
They sound like the white rich man who said to a poor, hungry black boy who looked up at him while he was enjoying a sumptuous meal: “Pull yourself up by your bootstraps as I did.” The little boy said: “He is assuming I have a pair of bootstraps.” I got this one in a Reader’s Digest book.
Typical. Some people do not like to help others. They think that those they help will be more successful. The words are selfishness and envy which are not Christian-like.
We must be ever ready to help others who are in need of our help in whatever manner possible. God rewards good deeds.
“… the veteran business men are closed minded regards mentoring the younger ones.”
Basically, I expect many of them have never even thought of it. Mr. Edward’s encouragement is right on.
In addition too many of them see the newcomers to their field as potential competition which does not add to their desire to see them do well. This is sad indeed. Such an attitude will not make a great tomorrow or a better nation.
Sincerely, Rev. Donald Hill. Evangelist.