Roseann M. Jones, dean of the School of Business and Public Administration at the University of Guam, delivered exactly what was asked for to Guam Chamber of Commerce members on April 29 at the Hilton Guam Resort & Spa.
The economist took an overview of the current challenges to the island and what the future might look like. As the Quotable on this page shares, she said there is little infrastructure for businesses to grow into large businesses.
The majority of the Guam Chamber’s 363 members are smaller businesses, not including its 36 associate members.
There is certainly funding from the Guam Economic Development Authority, and the U.S. Small Business Administration, but both of those programs require a dollar commitment from the business.
At this time, with global and regional uncertainties, the finance industry — typically cautious at the best of times as one might expect — is even more cautious than usual.
The Guam Chamber has a program to develop the next generation of leadership in the business community: the Guam Young Professionals, which has returned with vibrancy.
Some years ago, the chamber not only developed a five-year plan, but also looked at what it could do to support needed development of the island’s workforce in certain fields, such as the telecom industry, and worked to initially help that sector develop at the Guam Community College.
The chamber board has an impressive number of members and specifically includes small business representation on its board.
The U.S. Department of the Navy Mentor-Protégé Program pairs large defense contractors (mentors) with small businesses (protégés) to enhance the latter's capabilities, helping them compete for prime contracts and subcontracts. Established under DoD guidelines, it strengthens the industrial base by fostering technical, managerial, and security, or manufacturing skills.
And there are small businesses in Guam that currently benefit from this program.
A similar program that offers a relationship of support for small businesses might also be structured so that there are benefits to the mentoring company, as the Navy’s program does. The Journal is sure that tax incentives would offer real value. mbj
The economist took an overview of the current challenges to the island and what the future might look like. As the Quotable on this page shares, she said there is little infrastructure for businesses to grow into large businesses.
The majority of the Guam Chamber’s 363 members are smaller businesses, not including its 36 associate members.
There is certainly funding from the Guam Economic Development Authority, and the U.S. Small Business Administration, but both of those programs require a dollar commitment from the business.
At this time, with global and regional uncertainties, the finance industry — typically cautious at the best of times as one might expect — is even more cautious than usual.
The Guam Chamber has a program to develop the next generation of leadership in the business community: the Guam Young Professionals, which has returned with vibrancy.
Some years ago, the chamber not only developed a five-year plan, but also looked at what it could do to support needed development of the island’s workforce in certain fields, such as the telecom industry, and worked to initially help that sector develop at the Guam Community College.
The chamber board has an impressive number of members and specifically includes small business representation on its board.
The U.S. Department of the Navy Mentor-Protégé Program pairs large defense contractors (mentors) with small businesses (protégés) to enhance the latter's capabilities, helping them compete for prime contracts and subcontracts. Established under DoD guidelines, it strengthens the industrial base by fostering technical, managerial, and security, or manufacturing skills.
And there are small businesses in Guam that currently benefit from this program.
A similar program that offers a relationship of support for small businesses might also be structured so that there are benefits to the mentoring company, as the Navy’s program does. The Journal is sure that tax incentives would offer real value. mbj
