GCCI President encourages Tourism & Hospitality Operators to embrace formalised systems to build credibility
As 22 entrepreneurs within the tourism and hospitality sector completed a 12-week ‘ElevateAll Programme’ conducted by the Centre for Local Business Development, they were urged by President of the Georgetown Chamber of Commerce and Industry (GCCI), Mrs. Kathy Smith to formalise their operations in pursuit of credibility and trust.
Addressing the businesses during the Programme’s closing ceremony on June 13 at the Centre, Mrs. Smith emphasised the importance of determination and commitment in the journey of entrepreneurship. Moreso, she underscored the importance of formalising systems including accessibility at the physical location and separation of personal and business finances. “The bank should be able to locate your operation,” she stressed.
Mrs. Smith also pointed out the importance of regulatory compliance in operating in the business sector, such as the payment of taxes and National Insurance Scheme registration and payments. “Systems build credibility and trust…Systems save you time and make you scalable,” she told the Programme’s participants.
The capacity-building programme saw participants benefiting from training and mentorship, as well as business development support in areas such as gap identification, understanding the business structure, marketing, and pitch development.
