Successful Business Models Must Transform Communities


Managing Director of Churches Cooperative Credit Union, Basil Naar, has said that successful business models must help to transform communities by providing micro credit to support creative ideas.
Speaking recently at the official opening of the Churches Micro and Small Business Loan Centre in Mandeville, Mr. Naar noted that there are a lot of people in Jamaica, who have bright ideas but they lack the necessary capital to start business enterprises. Lending institutions, he said, must convert these ideas into capital.
“We find that in the inner city and rural communities we have an excess of talented, educated and self-motivated individuals. Some migrate overseas to provide opportunities for themselves and their families but in many instances, they remain in the communities and dissipate. To address this and other similar situations where human capital exists, we have to look at the activity of micro venture creation. In doing so, we will be converting knowledge asset to capital asset,” Mr. Naar stated.
Stating that success with small enterprises is the best way to ensure safe communities, the Credit Union boss opined that “if you cannot help the poor, you cannot save the rich. Our mission is to address the pernicious problem of poverty, through the creation of successful commercial enterprises that will provide a secure base of employment and then through this economic engine, the establishment of a prosperous and sustainable community. Achievement of the above leads to the preservation of the family and economic stability,” Mr. Naar said.
He called on business schools to adopt a deliberate educational structure, that provides for the “awaking of the thought process, so as to encourage and stimulate the entrepreneurial imaginations.”
“This requires a radical shift away from teaching analytical problem -solving skills, to cultivating a mentality that is likely to lead to the formation of ideas,” he said.

JIS Social