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Muslim Nations Pathetically Lagging Behind in the Global Economic Growth

The whole world is witnessing a major low as regards economy. Most of the countries in the world be it the developed, the developing or the underdeveloped are facing difficulties in tackling issues like inflation, and regression. Sadly enough it is the common man who is bearing the brunt of this state of affairs. And one can’t really blame the governments also. They are trying their best in order to bail out their citizens from this grim state of political affairs. The situation has become worse for the under developed nations. They already have a below par economy and on top of that are confronted by these economic instabilities. Talking about the underdeveloped nations a very interesting and at the same time a very saddening fact as regards the underdeveloped nations is that most of the Muslim nations of the world belong to this category. Around 80% of the Muslim countries find themselves in the list of the underdeveloped nations. Muslim countries have almost come to be characterized by their economic jeopardy and political disturbances.

In the list of the underdeveloped countries the majority of the Muslim countries find their names. Apart from economics most of the Muslim countries have a very sorry political state. Political instability and disturbances find themselves translated into the socio economic picture also. Political differences and problems prove to be a major obstacle in stabilizing a country economically. The countries with political and social difficulties fail to reap the benefits of the booms that economy witnesses all over the world. Unfortunately, most of the Muslim countries have so many intriguing internal issues to solve and look into that cashing on the international economic booms is a far cry.

Another hurdle that proves to be a big impediment towards growth and development of the underdeveloped Muslim nations is the problem of militancy. It is not as if all the Islamic countries are plagued by terrorism but the world conception is very much like this. Needless, to say things deteriorated from worse to worst after the terrorizing attacks of 9/11 and the shaking London bombings on 7th July 2005 sometimes also known as 7/7. Most of the Muslim countries came to be unanimously thought of as terrorist encouraging nations by the outside world. Developmental works are at an all time low and other social issues also affect the economic condition of these countries a lot. Gender disparity, biased and fanatic attitudes, horrifically low literacy rates, unemployment all contribute to the pathetic condition of these nations. All these conditions are pulling these nations down while other third world countries have made the maximum from booming global economic factors like ecommerce.

India which is a developing nation has made great strides in the field of ecommerce and IT consulting by outsourcing software development. Many offshore companies and primarily the American traders approach the Asian software companies for things like web application development, ecommerce solution and so forth. Out of all Indian software company is preferred for the cheap rates, credibility and within time solutions.

The writer specializes in writing on technical topics like offshore software development, ecommerce development, website design, To know more about the Software Development Company, visit http://www.infysolutions.com

North Tustin group opposing zone change

North Tustin group opposing zone change
NORTH TUSTIN – A zone change to allow a senior community on Newport Avenue would not create a precedent for future changes, a county report states. Instead, the report says, construction will be the main impact of a planned senior home on Newport…

Read more on Tustin News

Churchill From 1914-1939, and the Unnecessary War

In modern times it is useful to learn the travails of the past. Churchill at war, is a perfect example of someone defending the Anglo-Saxon heritage of freedom, division of powers, open markets, and life, liberty and the pursuit of happiness. Only Bush, Blair, Brown it is alleged, and some other leaders understand Islam’s threat to Western Civilisation. It is very similar to the universal designs that predatory Nazism and corrupt Communism had upon unsupspecting states.
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In his own recorded history of the First World War Churchill charges that, like the Second World War, the first was completely unnecessary and could have been prevented if wiser counsels and less weak and pathetically Byzantine alliances were in existence. Britain through covert arrangements finalised before 1914, had committed itself to the French-Russian side of the European chess board though it was never spelled out why or how Britain could or should support either France or Russia in a general engagement against Germany – the predetermined enemy. It was generally agreed in the 3 or 4 years preceding 1914 that Germany would strike for pan-European mastery when her fighting strength was able to contain two fronts – one on the east with Russia and the second in the west with France. The German army was by most accounts superior to the French and her fleet though not nearly as large as the British could still cause deep anxiety at the British admiralty. In fact there never was a decisive engagement between the British and German navies during the First World War, the only notable tangle being the battle of Jutland which gave neither navy an increase in fighting reputation.

It was obvious that pre-1914 Britain could bring little influence to bear on the Continent and its small volunteer force was tiny compared to the great conscript armies of Europe. Whether the Liberal government in power in 1914 would have entered the war at all without Germany invading Belgium is open to question. However with typical arrogance Germany ignored the usual British concern over the strategic importance of the Low Countries smashing the Belgian defences and forcing the British to intervene. Unlike their Teutonic cousins the British are not a warrior race and the unpreparedness of British war capacity both in 1914 and 1939 well illustrate this point. British success in the world was premised on free trade and peace and not upon martial prowess and in both world wars the British nation was psychologically unprepared for the conflict.

Besides the pending Armageddon in Europe the maintenance of the empire in 1914 was a full task in itself. In 1914 there were 200.000 men under arms in Ireland where a revolt over Home Rule seemed inevitable; in England the miners, the railwaymen and the transport workers were each claiming union recognition for the railwaymen who had thus far been excluded from the TU; and all workers were appealing for a 48 hour work week. As well British forces had to face nationalist troubles in Egypt and India and not to mention in August 1914 the armed and deranged power of a grasping degenerate Germany.

The British in short were being racked by the evolutionary and even Darwinian strains of liberalism which its democratic institutions could barely contain and affront. Thankfully for the British war effort many of the domestic squabbles were delayed while the death dance with Germany played on. Domestic problems were sidelined due to the early misfortunes in the war for the British and French forces. The Allies suffered many military reverses and only a stubborn French resistance at the Marne in late 1914 prevented a quick German victory. In fact in 1911 Churchill had predicted this very occurrence in the advent of a Continental war. Churchill had predicted that on the 40th day of the German attack the German line would be thrown back due to Allied resistance and logistical difficulties. On day 41 the French won the battle of the Marne preserving Paris and French freedom. After the battle of the Marne the British nation settled in for a long war.

At the outbreak of the hostilities the Navy was more than ready. It transported the British army to France without loss of life and under Churchill’s constant prodding attacked the island of Sylt off the north coast of Germany, sinking a destroyer, a cruiser and crippling five more ships. Churchill at the request of the Secretary of State for War Lord Kitchen, undertook the air defence of the British Isles and dubbed this airfleet the Royal Naval Air Service. He also sponsored the development of the tank, and thanks to his efforts the British were able to use the land carrier with devastating success in the final two years of the war. Without Churchill’s innovative demands and constant championing of the tank concept it may never have seen the battlefield, and may never have played such a decisive part in the fall of Germany in 1918.

Churchill began the war as Asquith’s golden boy. But his triumphs were short lived. The first cause for concern was something called the ‘Dunkirk’ Circus. This project was conceived from the trepidation’s that the Huns might capture the channel ports. The French requested assistance in the defence of the Dunkirk perimeter. Kitchen asked Churchill’s help and Winston sent across the channel his naval marines replete with 50 motor omnibuses from London to give them the requisite mobility. The Dunkirk Circus appeared in various towns in the area, giving the Germans the impression that a large force of British regulars was co-operating with the French in the area. It was successful and Churchill spent a good deal of time in France with his marines, much to the chagrin and anger of his colleagues, the Conservatives and the press, who wondered in scathing public rebukes why the First Lord was not at his desk in London doing his job ? The Prime Minister Asquith was not amused with his Alcibiades.

Then in late September 1914 Churchill delivered a flamboyant and damning speech in which he made a very unwise observation that soiled his name for years to come, “So far as the Navy is concerned we cannot fight while the enemy remains in port….If they do not come out and fight they will be dug out like rats from a hole.” Well, the very next day three British ships were torpedoed off the Dutch coast and sunk. This was a ‘bait’ squadron which had been ordered 3 days previously to return to England. If this order had been immediately obeyed the loss would have been avoided. His speech posed him in a ridiculous light and coupled with the Dunkirk Circus gave his enemies plenty to hurl his way. The next step of mishappenstance, though again not the direct fault or cause of Churchill, was the fall of Antwerp.

In 1914 war tidings were grim. The early German successes in the war in 1914 led Churchill to cross the channel to Antwerp to stiffen the Belgian and Allied defence of the city so crucial for the control of the Channel ports and the north western European coast and indeed in some respects for the safety of Britain, which would lie imperilled if the seaboard was controlled by a violent foe. The Antwerp escapade though it ultimately did not prevent the Germans from taking the city was crucial for defence of the coast since it delayed the German advance down the coast by 3 or 4 vital days allowing the British and French to re-deploy and organise their defences to hold the key channel ports. But this very sound decision of Churchill to lead the defence of Antwerp was vitiated by his clumsy offer to Asquith and the Cabinet to resign and take field duty if he were given the command of sufficient forces to satiate his military ambition. It was a very rash and improbable communication much hailed by his critics as an example of his unreliability.

Churchill was forced then to keep himself close to the rudder and he forced himself to remain in London. In so doing came to rely on the productivity and innovation casted off by his relationship with the brilliant old sea dog Jackie Fisher. The Fisher – Churchill combination continued to work at a frenetic rate, Churchill’s political diminishment notwithstanding. After a sharp defeat of a British naval squadron off the coast of Chile, spirit and prestige was revived when the German admiral Von Spee was killed off the Falkland Islands with the loss of his whole squadron. It was a smashing victory and redemption for the Churchill-Fisher combination. Then suddenly Turkey entered the war on the side of Germany, and Russia demanded that the Allies take action in the Middle East to draw off some Turkish pressure on Russian forces. Churchill at once seized upon the idea – offered on many occasions – of forcing the fortresses that flanked the narrow straits of the Dardanelles by a naval operation alone that would allow the Allies to capture Constantinople and push Turkey out of the war.

The attack was given Cabinet approval and went ahead at first as a naval operation. On February 19 the fleet opened up the bombardment of the straits. Kitchen a short while later promised troops. For the first 10 days the attack went well with the outer fortresses falling. Then suddenly the progress stopped. Turkish resistance was much stiffer than anticipated and sea mines were causing damage and anxiety to the British and French navies. On March 18th 1915 the Allied navy massed for a decisive attack and blasted the shores with such a cannonade that most of the defences were swept away. The navy steamed on to what seemed to be victory when the vessels struck a row of mines sinking 3 older ships and crippling four more. The attack was called off and the naval officers after some deliberation refused to continue the attack unless the army intervened and commenced a land campaign.

Churchill was apoplectic. He felt that victory was in sight but he could not force his naval commanders to reengage. Local commanders had ultimate authority and direction at the scene and the military command in London which was not organised properly to enact final decisions or reach a connected vision of strategy, could do little to impress its views on men thousand of miles away. Five long precious weeks were wasted until the French, Anzac and British troops stormed the Gallipoli shores. Surprise as a variable was cast away, the Turks and their German allies had mounted an intricate and obdurate system of defences and German submarines began to appear in the domain complicating the operation. Gradually the Navy pulled out and left the whole task to Kitchener’s army which straggled and floundered on the rocky shores locked in strife with a desperate enemy in control of the high points of the landscape. In December 1915 Gallipoli was evacuated with well over a quarter of a million French, British and Anzac casualties.

Churchill supported by later historians and enemy documents makes a very convincing argument for himself and the Gallipoli attack in his fascinating book on World War One, The World Crisis. It is known that the Turkish gunners during the last naval assault of March 18 had only enough ammunition to fight one more such action. The Turkish and German defenders were astonished that the British had not pushed forward. In fact the German naval gunners had already determined that the Navy would win and that holding out much longer was hopeless. Most experts agree that a combined land-sea operation would have succeeded. Churchill should be faulted for not being patient enough to wait until the army was ready for such a combined assault. He was too enamoured of a naval-only success. However, in his defence it is certain that the amateurish, haphazard decision making around the operation, with no clear cut authority and overall plan was not his fault. Remarkably no machinery of consultation existed between the naval and army departments and consequently Churchill’s power to persuade and help control complex co-ordinated operations was severely limited. This was not helped by the absolute dominance of the war lord, Kitchener. He was not just a hero, but a god, a famous general with great successes recorded in Egypt, the Sudan and South Africa. If the government had been better organised and more cohesive the war could have conceivably ended in 1915, with Turkey knocked out of the war, the Russian armies fighting the Turks in the Caucasus liberated to direct their fury against the Germans, the Balkans enlisted on the side of the Allies and Allied armies pouring into the soft, unprotected ‘underbelly’ of Germany. If successful Gallipoli could have saved millions of lives.

However Fisher resigned over the Dardanelles fiasco and this coupled with Antwerp, the Dunkirk circus, the apparent loss of paramount naval supremity and Gallipoli all forced Churchill to resign. Ten months earlier he was one of the most powerful men in England. Gallant, brave, an accomplished writer and orator, blessed with boundless energy and close relationships with key politico’s, his star’s lustre was dazzling and its light appeared to shine far into the future. Yet by 1915 though he was only 40 it appeared to many that his career was finished. He still had a quality of immaturity possessed of great ideas but with no real or stable sense of proportion. The relinquishment of power was bitter as Churchill wrote “I knew everything but could do nothing.” Little else can describe the painful forfeiture of power better. What brought about this rapid de-elevation ?

The answer lies in his personality. Much of the blame was unfair. He was the most important and vital minister in Britain during this period and had rendered valuable service in the cause of freedom. His small but gallant Naval Air Force was scouting German Zeppelins with increasing success, the Dunkirk Circus had fooled the Germans into believing that forty thousand British regulars threatened their flank and forced them into retreat, and the prolongation of the Antwerp defence had saved the channel ports from Hunnish occupation. It was more the flamboyance and self-assuredness of the First Lord that aroused suspicions and opposition. Churchill forgot that he was a politician and therefore had to tie either the Conservatives or Liberals to his tail to create a following. Not doing so appointed the day for his expulsion from the government when the vicissitudes of fate came calling.

The Conservatives still hated him and some of his Liberal colleagues were overwhelmed by the man’s ambition and capacity. From most accounts it is safe to say that Churchill was not a well liked fellow in either a political or personal sense. His parliamentary colleagues recognised his genius but he offended their amour-propre. People did not interest Churchill but ideas. His absorption in his own affairs illuminated a vanity that was hard for some to accept. Churchill’s incisive, compelling monologues tended to disregard the feelings and opinions of his audience and created the aura of gross insensibility which is a determined flaw in a democratic statesman who must not only expand ideas but impel others to accept them.

To assuage his sorrow Churchill headed to the front lines in 1915 in command of a brigade and experienced life and very nearly death in the trenches. Though it was a political difficulty, his scope of power was increased to that of a battalion commander in Belgium, though Churchill knew that a substantial military career was not to be his. His battalion – the Royal Scots Fusiliers – were nonplussed that a politician had been thrusted into their midst. On his second day with the group Churchill won over his men by gathering the officers together and announcing solemnly; “War is declared, gentlemen, on the lice.” This was followed by an erudite and expanded lecture on the origin, growth, and nature of the louse, with particular emphasis on its decisive role in the history of warfare. The officers were not only amused and shocked, but fascinated.

With the spectacle of a great and creative mind bursting with hard work and focused on the comparatively small needs of a battalion, excitement and activity was assured. Churchill especially impressed his men by his coolness under fire and the complete lack of nervousness with bullets spluttering about as he would almost recklessly expose himself to enemy fire. By all accounts he was a trusted and quite effective Leader – interested in all details of the men, their methods and wants, the operations and the enforcement of military discipline and fairness. Though only at the front for over four months it gave Churchill a comprehensive experience of the horrors and follies of war and the undeniable bestial conditions that the men at the front fought, lived and died in.

Churchill was however a Leader and a statesman and not a warrior at the core of his being. When the combination of battalions ended his military career he took the opportunity to race back to London to participate in political opposition and await the detailed investigation of the Dardanelles event by a special commission. Churchill was anxious that his character and public career should receive a fair hearing. The Dardanelles report was published in 1917 and gave Churchill a rather favourable press, severely criticising the Prime Minister Asquith, for his handling of the War Cabinet and for Kitchen who as Secretary of War did not send troops sooner. Churchill was not exonerated but importantly for him not crucified by the commission. A resuscitation of his political career was now possible.

In 1916 Lloyd George claiming a liberal-democratic war, based on crusading moral principles and responsibilities, became Prime Minister and was masterful in his management of the British war effort. Indeed many historians have suggested that without his leadership of Britain during the war, victory may have come later if at all. Domestic disputes were still quiescent though less so after the 1917 Russian revolution, where Russia was ripped open by the wolfish, bloodthirsty Bolsheviks which knocked it out of the war and gave Europe the misguided but enthusiastically received messianic appeal of bolshevism in its war weary nations. This dulled the appetite of Britain and France to fight on.

Men of mettle. intelligence and dedicated to ultimate victory were therefore needed and George wanted Churchill’s energies and imagination and great leadership capacity working for the government and not skulking on the opposition benches tearing holes in government policy. Though the opposition to Churchill was extremely intense especially in Conservative circles, Churchill was appointed as Minister of Munitions in 1917. The noise against his appointment was deafening especially astonishing Churchill who was deeply unaware at the amount of hostility that he had created in political circles. Since Churchill was officially an independent candidate and not a member of either the Liberal or Conservative Party he was not included in the War Cabinet which curtailed his activities probably to his own benefit. As George recorded in his memoirs, “Unfortunately genius always provides its critics with material for censure — it always has and always will. Churchill is certainly no exception to this rule.”

At the Ministry of Munitions Churchill took over the control of a huge organisation composed of 12000 civil servants in 50 departments. Churchill combined the 50 groups into less than a dozen new ones and he set up a Council of business men somewhat like the Board of Admiralty and over the business men he put a clamping committee, small and powerful to direct affairs. The organisation was a triumph. This Ministry covered an enormous field – it was not only responsible for guns and shells but for all sorts of rolling stock and the design and production of aircraft as well. Churchill had to appreciably increase the munitions for the tank and machine gun corps which he did extraordinarily quickly and also to supply the American military with supplies until the USA could bring their factories onto a war footing. He in effect made a gentlemen’s agreement by which the UK promised not to make a profit and the USA promised to make good a loss. The deal worked spectacularly. Winston established extremely cordial relations with his counterpart in Washington – Bernard Baruch – who was to become indispensable for Britain in its World War Two efforts to receive American armaments during the dark days of 1940 and 1941.

The appalling and senseless First World War sank deep into consciousness of the British nation and explains why bolshevism was granted receptive audiences throughout Europe and why the nations of Europe were eager to appease Hitler 20 years later. At the Battle of the Somme a British offensive in 1916 claimed 420.000 British casualties in one month. From August to September 1917 at Paaschendaele Belgium, 300.000 Empire soldiers were wounded or killed in a campaign to claim a few square miles of territory with many of the victims drowned in torrential rains. Even after the successful conclusion of the war with the dramatic and sudden German disintegration in the early summer of 1918 the British and French populace could never erase the carnage and mindless mutilation of 4 years of war and became profoundly anti-war and pro-pacifist.

This pacifist feeling and urge to rebuild a better world was manifest in the 1918 election where Lloyd George and his coalition government retained power. At this juncture the Liberal party, once the prime mover in all that was progressive and enlightened, was all but finished, weak, divided and without firm mass support. The Conservatives took the urban vote, and the Labour party the worker vote. The Trade Unions on which Labour depended became enormously strengthened by the war experience and their membership doubled to roughly over 8 million by 1919. Given the voting reforms in 1918 this power became effectively used as the electorate was extended from about 8 million in 1914, to over 21 million in 1918.

After the successful close of the First World War the Imperial mystique was powerful and even enhanced. British possessions in the Middle East and Africa grew, with concomitant increases in raw material resource including oil. It appeared that British economic strength given the severity of the peace reprisals hoisted upon Germany and the minimisation of her once severe economic threat, could enjoy something of a comeback. In the 1920’s under Lloyd George all major industries were returned to private hands. The Government also began trumpeting a consistent financial policy to ensure an eventual return to the Gold Standard, meaning that the City of London, the British class system, and private capitalism all appeared to continue unchallenged.

However fiscal reality overshadowed the blissful feeling of Empire grandeur. Financial and military constraints to manage the Empire were severe and India with its growing nationalism was becoming ever more of a moral and financial burden. There was a huge increase from the war effort in national debt and the subsequent loss of foreign markets especially in Germany and France. Lloyd George had also committed his government to the necessary but costly endeavour of building 200.000 houses for immediate public purchase in 1919. Massive post-war unemployment was fast becoming a crippling political problem for the British government, as was the realisation that perhaps the greatest threat to international stability was the narrow minded, nescient Versailles Peace Treaty effected in 1919. Covert, secret treaties concluded during the war between Britain and its allies, with unjust terms for financial reparations from Germany as described by J.M. Keynes’ ‘Economic Consequences of the Peace’ written in 1919, showed conclusively that the reparations imposed on Germany would lead to its financial ruin and thereby to the permanent weakening of the European economy. Keynes also devoted eloquent, penetrating prose, in describing the corrupt atmosphere of the Versailles arrangement and in particular Lloyd George’s debasing and unstatesmanlike conduct.

Churchill though he was the most visible advocate of better social conditions was assigned by George as the Secretary of State for War and Air. This was a key position in post war Europe, a Continent which was far from stable and where, the insipidity of Bolshevism was threatening to take over Germany. Churchill and others promulgated that given these internal disruptions a certain magnanimity towards Germany would be prudent since she was and is the central player in the concert of Europe. In fact the Bolshevist menace occupied a great deal of Churchill’s energies in 1919 and 1920. He firmly believed that if enough Western material and support were offered to the non-Bolshie forces in Russia, Lenin’s precarious revolution which during these years was in great danger of being eclipsed by military forces loyal to the Russian monarchy and to a lesser degree supportive of democracy could be eradicated.

That Bolshevism was foul baboonery was obvious to any but the most ardent and simple socialist utopian. Lloyd George however considered that the Russian anti-Bolshevist generals were not liberal democrats and that foreign intervention counter-productive and expensive. And though Churchill was right about Bolshevism being imposed by force, Britain was too exhausted by the Great War to intervene militarily or even spiritually. The prospect of another conflict was too horrifying to consider and most of the volunteers in the army were clamouring to be disbanded. Thus in part through Western weakness the irrationality of Bolshevism laid its clawed hand on the heart of Russia. A tragedy still apparent in the mindset, lost integrity and general disarray of the Russian people and nation today.

After dispensing with his duties as Secretary of War, Churchill was directed by George to sort out painful and essential problems in the Colonial Office. In the brief 18 months of 1921-22 when Winston was Secretary for the Colonies he justly claimed the mantle of peace maker. He enacted two very important settlements. The first was in the Middle East. Churchill still carried the great hope that Britain would conduct itself in a pure manner regarding native or colonial populations and government. His experience taught him that democracy was not applicable at all times in all locations to all peoples, yet fair government rested not on military power but on moral law. Churchill in effect cut military deployment and largess in the colonies especially in the newly acquired territories in the Middle East where Air power was substituted in some measure for troops to garrison the Empire. It was in this quarter as well that Churchill strove gamely within the British protectorate of Palestine to broker peace between the Jews and Arabs, and to push the idea of a Jewish state in the region in accordance with the Balfour declaration of 1917 which stated that the Jews were to be accorded a national home in the Middle East. Churchill was convinced that Zionism would bring with it prosperity if only peace could be arranged between the implacable parties.

He called upon the aid of the amazing Englishman Lawrence of Arabia, and settled in Cairo during a conference, the grievances of all concerned parties. The proposals were sent to Cabinet. First, the British must appease Arab emotion by placing the Emir Feisal on the throne of Iraq and transfer to his brother the Emir Abdulla the government of the Transjordan. Secondly, British troops must be withdrawn from Iraq and order maintained via the Air Force. Thirdly, adjustments must be made between the Arabs and Jews that would serve as a sure foundation for peace. In sum it was a proper and practicable arrangement and with it the acceptance of the proposals, tension in the Middle East declined dramatically.

At this time Ireland also raised itself after the war eager for Home Rule and a resolution to its problems. It was a violent land with Sinn Fein outside of Northern Ireland dominant and using force to implement its rule. Churchill as Colonial Secretary in 1921 was entrusted to keep military control and internal peace until proper democratic procedures could be enacted to appease the demands of the Catholic South. To restore the military balance on the island Churchill recruited Ulster men to patrol Ireland and to meet violence with violence. Though clashes ensued both sides and the British government could find enough common ground to effect the transfer of power to Southern Ireland as a dominion, effective December 6 1922. Churchill’s part as a conciliatory statesman, ignoring the clamour of extremists from both sides and unbowed by military threats was crucial and leading. The world seldom thinks of Churchill as a conciliator but in this case he worked tirelessly and sagaciously to defuse an intricate and maddeningly emotional dispute. He handled innumerable situations with tact, writing repeatedly to the leaders involved, smoothing away misunderstandings, emphasising goodwill, minimalising petty conduct, praising, extolling and suggesting. In the end the tragedy of Ireland final settled down to peace.

In the fall of 1922 a national election transpired which effectively destroyed the Liberal party and forced Churchill to make his way towards the Conservatives. Public disapproval and weariness with the coalition or ‘national’ government of Lloyd George had reached new heights of fervent expression. Since 1916 George had sat upon the pinnacle of British public duty. However George’s persistent womanising and remote, Olympian and not entirely trust worthy character had defaced to some degree the validity of his rule. Public disgruntlement at its Leadership became irreversibly hardened in 1922 when Britain was on the verge of war with Turkey over the defence of the Greek position in Asia minor and the protection of the Dardanelle straits. War did not erupt, but Lloyd George and his government including Churchill were tossed from office and Ramsay MacDonald, the utopian Leader of the leftist Labour party became Prime Minister. Macdonald was challenged by the stable and peaceful Stanley Baldwin the Conservative Leader, Prime Minister in 1923-24, 1924-1929, and 1935-7. Both Macdonald and Baldwin were appropriate shepherds for a country that desperately wanted peace and safety and to escape the horrors of war.

Churchill also lost his working class seat in Dundee Scotland and was banished into exile for 2 years. It is peculiar that an aristocrat would have as his political base a blue collar, sweated town such as Dundee which had absolutely nothing in common with an Oxfordshire squire. Barred from public duty by the election result Churchill spent most if his time with the family, writing, painting and patiently biding time until the political scene cleared and opportunity would be revealed. In this period Churchill began his massive history of the First World War. The five volumes of the “World Crisis” as it was called, were published between 1923 and 1931. It is a truly significant work about national, international and personal power. It is not so much a history as a colourful drama, with Churchill never far from the centre stage. It was a eulogy to the decaying grasp of British domination of the world scene, with 1922 revealing the spread of socialism engulfing Europe, with Ireland and Egypt lost as independents from the Empire and the first ever Labour Party in power. Much had changed and much was still in train to be altered since Churchill had first entered Parliament 21 years earlier. Across the globe peaceful hopes were supreme. Martial glory was dreaded.

The new doctrinaire of peace and rebuilding was reflected in British arts represented by the literary Bloomsbury group — a creative association that included Virginia Woolf and E.M. Forster, both intimating through their novels a decline of Western liberal self confidence in the face of rising competition and corruption. In the mid 1920’s Britain was a society rapidly changing and transmuting. Large proportions of the population had emerged from the war with middle class aspirations; home ownership, a quiet contented family, leisure, domestic comforts and employment security. There was a gradual erosion of church and puritan values with ‘smart young things’ wearing less restrictive and dour costumes and fewer young people openly religious. The rural population declined steadily as unemployment in the non-urban areas grew and families migrated to the city to locate work.

In 1923 an event occurred which proved extremely advantageous for the career of Churchill. Bonar Law the Conservative Prime Minister and Winston’s intractable political opponent resigned and soon afterwards died, leaving Stanley Baldwin, the Chancellor of the Exchequer as Prime Minister. Baldwin was a stolid, pipe smoking, shrewd English politician dedicated to eradicating unemployment which at that time hovered around the one million mark. He was a protectionist, an advocate of high tariffs to stimulate economic growth and employment. But since Bonar Law had pledged in the 1922 election to do exactly the opposite, Baldwin needed a mandate from the public to initiate such reform.

Baldwin thus picked the only issue capable of uniting all Liberals into one unit. Churchill fought as a Liberal Free Trader at West Leicester, noisy and excited. His violent denunciations of the Labour party and of socialism, drew packed houses and infuriated his opponents, who pitched any and all recriminations they could lay their hands on. Churchill was so bitterly hated by a large section of the working class that when he spoke on 3 December 1923 in London, the city was obliged the send both mounted and foot police as protection. Churchill described the crowd as “..more like Russian wolves than British workmen – if they are British workmen – howling, foaming, and spitting, and generally behaving in a way absolutely foreign to the British working classes.” Churchill lost by four thousand votes. Overall no party could command enough seats to form a government. The Labour and Liberal parties formed a coalition with Ramsay MacDonald as Prime Minister. Another election was soon inevitable since a Labour government held in power by Liberal support could never hope to enact change. The Labour party had an equal share of Liberal minded men such as MacDonald and radicals intent on real socialism.

Shortly thereafter a Conservative seat fell vacant in Westminster London. Churchill at once set about getting himself adopted as the Conservative candidate. His powerful Tory friends intervened on his behalf but to no avail. The Conservative party adopted the nephew of the retiring Conservative member. Churchill continued undaunted calling himself an anti-socialist independent. Many Tories supported Churchill. There was a fear that since Westminster was a Conservative stronghold Churchill’s candidacy might split the Conservative vote and allow Labour to win. Churchill fought the campaign entirely against the Socialists. Blood, thunder, doom and ruin were interwoven with tales of tragic incompetence if Labour would lay its hands on power. Notable peers, Conservative members and newspapers canvassed for him. Despite the glittering support Churchill lost by 43 votes to the Conservative candidate Nicholson.

Churchill was far from downcast. The road at least to the Conservatives was clear. His Liberal bridge lay burned and the support of so many notable Conservatives gave him great heart. He was positioned as the most powerful Conservative weapon against a socialistic revolution. After nine months of governing the Liberals finally withdrew their support from MacDonald’s and another election was called in the fall of 1924. Churchill fought in this election as a Conservative at Epping and was victorious. His remarkable journey back to a party that reflected his ideals of economic orthodoxy, social reform and colonial morality was complete. It staggered his enemies who could not believe that he had once again switched party flags.

Soon after this victory and remarriage Churchill somewhat incredibly became Chancellor. It was an amazing transformation. Since 1918 Churchill had made a steady if not swift progression to his natural political home of conservatism. The Liberal party had by 1922 outlived its usefulness. Churchill had no choice if he prized his political future but to join the Conservatives. That Stanley Baldwin gave Churchill the second most important post in the government dazed even the staunchest of Churchill’s supporters. Given the complex spectacle and challenges of post war finances, reparation schedules, the gold standard issue and the grappling of the debt problem, the Chancellorship in the mid-20’s would prove to be an extremely laborious effort.

Why did Baldwin give Churchill the second most powerful position in the nation ? He simply feared Churchill and especially the political and oratorical combination of Churchill and Lloyd George. If Churchill was left out of power, a Centre Party with Churchill and Lloyd George and the Conservative orator and Churchillian supporter F.E. Smith could conceivably be formed dissipating greatly any governmental power base. Baldwin had no desire to be blasted by 3 such heavyweights. An astute party manager, Baldwin forced Churchill to accede to the Chancellorship where party pressure would keep him in line. Or so he hoped. And indeed in donning the robes once worn by his father Churchill showed himself a loyal and capable supporter of Baldwin and his government.

Though not trained in the world of commerce or finance Churchill mastered his post with precipitate speed and enjoyment challenging the experts and doctrinaires on all policy issues. However the mid-late 1920’s decline in exports and decreased employment opportunities in the export trades can be in large part traced to his decision to return Britain to the Gold Standard. This decision can be regarded as a rather disastrous move. In fact Churchill’s tenure at the Exchequer was marred by strife and labour bitterness, depression and industrial disquiet. Most of this calamity can be traced to business and financial pressure exerted upon British governments beginning in 1918 to return the British pound to the pre-World War 1 Gold Standard rate. A standing committee of experts appointed by the Lloyd George Government in 1918 to investigate the position urged that the decision be accepted and only the emphatic and brilliant economist John Maynard Keynes raised a howl of objection. In 1925 Britain sat between two stools of economic philosophy of society.

On one sat the school of market determination insisting that wages and prices are calculated by the strict, inviolable laws of supply and demand. Upon the other resided the Keynesians, preaching a managed economy and limited but effective government interference and resource allocation. Though Keynes intellectually gnarled the return to Gold he very importantly did not offer an alternative. The political and business pressure on Churchill to keep the parliamentary promise and return the country to gold was immense. It was viewed as a way to defuse inflation since the government would be constrained in its printing of money. All of Britain’s major economic partners had adopted or soon would pass under the heel of the Gold Standard. And though Churchill repeatedly hesitated imploring his civil officials to defy Keynes’ predictions he could find no plausible alternative to what many had expected to be a fait accompli.

The result meant a serious overvaluing of British Coal and Steel exports and generally exacerbated the inequality of comforts among the classes that divided the nation. Unfortunately for Churchill and his government economic woes dovetailed with sagging spirits. In much of the West there arose in the mid-late 1920’s a certain disappointment with Western values and the terrible cycle of industrial decline, unemployment, and social bitterness led to the worst explosion of class conflict that Britain had yet known in 1926. In April of that year Prime Minister Stanley Baldwin refused to renew a subsidy to the coal industry. This subsidy was considered essential to maintain the coal industry’s productive capability, and its repeal ignited a class-based nation wide general strike in early May 1926.

For nine days the country literally stopped functioning. As the struggle between the government and the unions deepened Churchill was again the most active member of the government to quell the disturbance basically commanding the creation and publication of a special government newspaper to keep the public informed about the strike, the position of the government and the developments at garnering reconciliation. Thankfully it was bloodless and the strike ended abruptly. However, the class divisiveness engendered by the strike plagued the nation for at least the next 20 years or more with 1926 injustice being revived as late as the 1984-5 coal disputes.

This was the signal event of his Chancellorship. After the excitement of the strike, balancing budgets, limiting unemployment and reducing income taxes became Churchill’s standard fare. He did not enact any other change as effacing or important as the return to Gold. The most notable feature of Churchill’s remaining tenure from 1926-1929 as Chancellor was his stubborn defence of free trade and economic orthodoxy. As the months passed on Churchill’s bellicose defence of free trade began to rattle and decrease his own status within the Conservative party, where many, including Prime Minister Stanley Baldwin, favoured protection to give British industry relief from the high rates of unemployment. Churchill demurred and would not countenance such unorthodox blasphemy. For his colleagues this became a point of frustration. This was elevated in degree by Winston’s dominating, energetic manner. His colleagues were beginning to tire of Churchill’s overpowering presence, clever memoranda, forays into departments other than his own, and the vast literature of ideas and action points. Baldwin confided to a friend that Churchill’s lack of team skills was a disadvantage that outweighed his contributions and that he would not want Churchill in another government. He and his successors kept this promise, and Churchill was ostracised from office and power from 1929 to 1939.

In 1929 Baldwin’s government went to the polls. Labour emerged as the largest party and formed a government with Liberal support and Ramsay MacDonald became Prime Minister for the second time. In 1931 MacDonald deserted the Labour party and joined forces with the Conservatives in forming a National Government to deal with the financial crisis produced by the crash of Wall Street in 1929. This National Government was primarily Conservative in nature and though MacDonald was Prime Minister, Stanley Baldwin was the real power broker and King maker.

This was the dawning age of the common man, where the spoils of power, prestige and money were to be distributed to a greater swath of society than ever before. The 1930’s marked the rise of the common man’s perception that society’s ills were not being repaired. He began to doubt the wisdom of being ruled by his so-called ‘betters’, those of the oligarchic aristocratic powerful elite, who by birth, money or talent and energy had hoisted themselves up to the summit of the noble ruling range. Was this system to continue indefinitely, the common man began to ask ? And as he surveyed the scene of poverty, unemployment, lost opportunity and vast resources wasted on war and death, he rightly began to question why it was that security, proper wages, better education and health were eluding his grasp ? Industrial and political control became mandatory and very quickly the common man became the richest political prize and a requirement for all politicians to woo and master.

Churchill was concerned that the Labour party, in the early stages of its development lacked the resolve and skill to govern. Largely this was correct. He did and could not blame the working man for erupting against the grave state of unemployment and desiring the fulfilment of hopes and promises. However, he was sceptical of magical remedies to cure the issue of 1-2 million men out of work. The great Keynes forwarded a mammoth plan of large borrowings for public works to relieve unemployment which Churchill readily denounced with veracity as ‘camouflaged inflation’. Thankfully neither the Labour Government nor the Conservative opposition were tempted by such schismatic views. Balanced budgets, and acceptable wage and price levels were deemed the wisest course.

Though it can never be forwarded that Churchill was a brilliant economist, he did have a solid grasp of the underlying principles of sound finance. What was distasteful to Winston was the blight that party politics radiated upon important economic questions. In June 1930 he delivered a lecture at Oxford University sponsoring the suggestion that economics must be separated from politics, “I see no reason why the political Parliament should not choose in proportion to its Party groupings a subordinate Economic Parliament of say one-fifth of its numbers, and composed of persons of high technical and business qualifications. This idea has received much countenance in Germany. I see no reason why such an assembly should not debate in the open light of day and without caring a half-penny who won the General Election, or who had the best slogans for curing unemployment, all the grave economic issues by which we are now confronted afflicted. I see no reason why the Economic Parliament should not for the time being command a greater interest than the political Parliament; nor why the political Parliament should not assist it with its training and experience in methods of debate and procedure. What is required is a new personnel adapted to the task which has to be done, and pursuing that task day after day without the distractions of other affairs and without fear, favour or affection.”

This was met with a cold indifference and Churchill found himself almost alone in its avocation. To compensate the pen provided distraction and he wrote his autobiography My Early Life, quite an amusing tale that finishes with his entrance into Parliament and his marriage ending with the words, “I married and lived happily ever afterwards.” The public was amazed by the tolerant and gentle humour of the work, much of it directed against himself. It was not the evocations of a combustible politician, but more the reflections of a man detached from life’s strife and living on high, above the corrupt daily battle of the House of Commons. This was soon followed by series of newspaper articles and essays ranging in subject from one on ‘Moses’ to ‘Shall We All Commit Suicide?’, bounded and reprinted in a book called Thoughts and Adventures. The last literary piece to appear in the early 30’s was the thick fifth volume of the First World War, The World Crisis, The War on the Eastern Front.

Also revealing but seldom known was that Churchill seldom spent a week-end away from his country house, Chartwell, which was close enough to London that a long troupe of friends would motor down for dinner engagements. Winston’s preferred element of relaxation was ardent political debate, late into the evening, with an early waking, working in bed, smoking of a large cigar and the afternoons engaged in children, farming and building. Churchill loved construction. He built a tree-top house, a goldfish pond, a bathing pool, a cottage, a brick wall, dammed a lake, and made miniature waterfalls. This love of design sprang from his interest in applying a methodical and systemic technique. The appeal of writing stemmed from matching sentences together to form paragraphs which then had to be arranged into a coherent pattern. Such it was with the creation of physical objects. The fabrication of the cottage and long wall induced Churchill, the arch-Conservative, to join the bricklayer’s association as a professional that could lay one brick per minute. Needless to say the Labour party was unamused. The public had no opportunity to see this side of the man; devoted to animals, family and estate projects. To the general mass Winston was pugnacious and formidable with a robotic appetite for work, a brilliant mind, unstable character and a flaming ambition.

Churchill’s immersion and occupation in the scholarly world was disturbed by one of the great debates in British history. In the early to mid 1930’s it was India – and the granting of nationhood to India – which dominated Churchill’s activities as he sat out of power. The Liberal, Conservative and Labour parties all supported the extension of dominion or independence to India and the details of the bill were in the hands of a multiparty commission. The Viceroy’s of India (Lord Halifax followed by Lord Irwin) were in favour of granting India the freedom that she demanded; first in drawing up a Federal Constitution; and second in extending self-government in Dominion status. Undoubtedly public opinion had been sharpened by the protracted struggle and lessons of Ireland. India was simply requesting what had already been granted to Canada, Australia and New Zealand. There was much to be lost by ruling with repressive force and much to gain by granting concessions and acting in accordance with the inclinations of a great subcontinent.

Churchill was adamantly opposed to any relinquishment of British control or influence. He was almost alone in his extreme criticism. And though his opponents used some chicanery to push the India Bill through Parliament Churchill’s hard and prickly position alienated and diminished his stature. His Demosthenic railings against Indian self determination were viewed with suspicion and then scorn by his contemporaries. Winston passionately and correctly believed that India was indispensable for the maintenance of the British Empire – it was certainly the jewel in the crown. Without it the rest of Britain’s imperialistic holdings would surely slip away. He also correctly surmised that without the resources and captive markets of the great subcontinent Britain could have difficulty surviving as a prosperous country and that once granted independence India would be riven with sectarian violence and bloodshed. However his obstinate badgering and negative criticasting did not prevent the bill from being given Parliamentary approval in 1935 as it rightly deserved. You cannot keep a subcontinent like India in permanent subjugation.

The Conservative party was outraged with Churchill’s obduracy over a 5 year period in trying to kill the India bill. Churchill was always consistent in his advocacy that India was inseparable from fortune in the affairs of Britain. However his pronounced, rash and incongruous campaign severed his ties with the Conservatives. He was a Tory in name, but the wilderness was his home. He became a political untouchable for much of the 1930’s. Legendary, brash, and self serving, or so the great mass believed when Churchill’s name was invoked. Though Churchill had a mystical belief in his own greatness and ultimate destiny most of his friends conceded during the early 1930’s that his career was finished. He had now quarrelled heavily with all three parties. The boats were burnt, there was no retreat. The Conservatives had quite reluctantly forgiven him once, and now that their suspicions had in their own minds been justified by Churchill’s extremity over India they were unlikely to grant absolution a second time. The Liberal Party was dead and the Labour party viewed Churchill as the Beelzebub of the House of Commons. In what direction lay the future ?

Strangely enough, when opportunity appeared at low ebb, Churchill began in 1931 the work on his famous ancestor the Duke of Marlborough which prepared him for the challenges of leadership during World War Two. It was the sweat, thought and inspiration poured into this literary masterpiece with its own story of weakness, subterfuge, tyranny and salvation that so peculiarly mirrored the events of the Second World War. This indoctrination prepared Churchill beautifully for the leadership of Britain at the darkest hour in its history. Ever since he was a young lad, Winston had consumed all the information he could imbibe on his great forbear John Churchill. Here was a tale that contained every element of drama; the story of the poor youth who came from unknown origins to become one of the greatest generals of all time and who saved England and half of Europe from the despotic maniacal control of France’s King Louis the XIV; of the pretty youth who fascinated the King of England’s mistress; the ambitious man who became the richest man in Europe; the sought after hero who loved his wife with unbounded passion for over 50 years; the conquering god who never lost a battle; the political diplomatist who ruled England by effective power during his tenure as war-lord. Nothing was missing. It was the perfect tale of dash, flash, glory and power. Love, war, espionage, revolution, King’s, Queen’s, romance and success all weaved and threaded themselves into one astonishing life.

It is small wonder that Winston became attracted to writing this thrilling record. The skill of Churchill’s account resides in his ability to bring all of the characters into life. The complicated relations are dealt with at a confident brilliant pace, and reveals a century (late 17th to early 18th) of resounding change. As a literary piece it compares with Tolstoy’s War and Peace and as an artistic expression it has few historical equals. Thankfully this story of power and struggle was not written by a historian but by a politician hobbying as a historian. Only a man who understood the current of political life could have written such a detailed and satisfying explanation of the jostling that takes place in political circles. Even more vital it was a theme of freedom and the restoration of England’s and of Europe’s independence. Such a thesis fuelled all of the innermost fires of Churchill’s fibre, “Since the duel between Rome and Carthage there had been no such world war. It involved all the civilised peoples; it extended to every part of the accessible globe; it settled for some time or permanently the real relative wealth and power, and the frontiers of every important European state.”

These words were written during 1933, the year Hitler came to power. Away from artistic endeavours Churchill began to discharge time and energy into comprehending and communicating the threat of Hitler’s Germany, collecting testaments and information on the gravity of Hitler’s menace from all parties and sources. Winston in his speeches consistently exhorted a full support of the League of Nations and tried to draw Russia into a Grand Alliance to ring and contain German ambition. However, his appeals rang hollow in the halls of the pacifist democracy and in the circles of power. Almost by default it appeared that the dove Ramsay Macdonald, and his Labour party would be a reliable guide to lead affairs for the 1930’s. Militarism was scorned and war in the 1930’s dismissed and pressing economic questions had to be resolved. The second Labour government under Macdonald was a disaster, not only due to ministerial incompetence but also to the stock crash, and the financial derangement which drove unemployment to over 3 million men, hastening the decline of important first and secondary industries, and showing to the world the inefficient work practices, and dearth of British business and entrepreneurial skills. British society was in tumult during the 1930’s.

In 1936 fascist Italy was busy conquering Ethiopia, and Franco was waging civil war in Spain supported by Germany and Italy against the government. In both cases the British government adhered to non-intervention though public psychology was greatly stirred by the Spanish war and Jewish refugees brought home the nightmare of Hitler’s Germany. Still the election of the Conservative party and Stanley Baldwin as Prime Minister confirmed the people’s desire not to get involved with Europe or at least not another Continental war – no matter how bitter and distasteful they might find the events.

MacDonald was replaced in the mid thirties by the decaying Conservative Leader Stanley Baldwin who with his faltering powers was no more effective than his predecessor in curing the employment and economic problems ruining British society. But remarkably and in a very British-like manner, the UK compared to the Continent, displayed a great stability and affinity for liberal democratic governance and law. Whilst the baboonery of fascism skipped and capered in Germany, Italy. Japan and Spain, and whilst Russia was raped by the Bolshevik monsters, Britain, saddled with a distressing economic and social condition showed no real inclination (outside of a small fringe that supported Oswald Mosley’s fascist party) to gravitate towards revolution or anarchy. It was superhumanly stable.

This lasted until 1937. This mood of pacifist peace began to harden itself and grow bitter. The change of attitude was not due to domestic disunity but forced by foreign affairs. The rise of the demented Hitler finally drew a response in 1937 in the form of a British commitment to increase military preparedness. In 1936 Hitler marched into the allied occupied Rhinelands in direct infringement of the Versailles treaty. Only Churchill called for a military response. It was a gigantic bluff on the part of Hitler. France was immobile with fear and refused to move without British support. Baldwin would not commit himself and urged the French to take the matter to the League of Nations. As we know today, if the French army had advanced into the Rhine area scarcely a shot would have to have been fired to disperse the German force. Hitler had occupied the Rhineland in direct violation of his Chief of Staff advice with only a handful of troops. The democracies were inert and Hitler rightly guessed at the lack of resolve and courage of France and Britain.

While France stood gaping and Britain remained pawing the ground, Churchill attempted to galvanise the world through collective action; “If the League of Nations were able to enforce its decree upon one of the most powerful countries in the world found to be an aggressor, then the authority of the League would be set upon so majestic a pedestal that it must henceforth be the accepted sovereign authority by which all the quarrels of the people can be determined and controlled. Thus we might upon this occasion reach by one single bound the realisation of our most cherished dreams.” No action was forthcoming and the political leaders and newspapers of the day played down the crisis. However Baldwin’s stock was falling and Churchill’s was climbing.

The British had long been harangued by Churchill for their blindness to Hitler’s menace. The 1930’s make tragic reading. If but a tithe of Churchill’s advice and will had been effected the desolation of the Second World War would never have transpired. Efforts were made but they were too small to meet the challenge. Beginning in 1935 a new fighter based Air Force was being patiently constructed, and well known scientists dedicated to remilitarizing Britain like Henry Tizard and his rival, Churchill’s mentor Frederick Lindemann, were given ample access in corridors of power. Though the armed forces were being renewed, it was a case of far too little too late. The great German advantage in air and land power could not be overcome in a few short years by a determined but still rather small British remilitarization campaign.

The vacillation and blind insipidity of Britain, France and America during the 1930’s even now defies comprehension. At that time nearly every foreign correspondent was aware of the derision in which the dictators held the democracies and their determination to wage war while the waging was good. Masses of paper appeal to this theme. In 1937 Herr von Ribbentrop, the German ambassador to London had a long talk with Churchill telling him openly that Germany must have a free hand in Eastern Europe. When Churchill stated that Britain would not allow this the German replied, “In that case war is inevitable. There is no way out. The Fuhrer is resolved. Nothing will stop him and nothing will stop us.” It is difficult to find another period in history when war was so unconcealed and obvious.

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Nigerian Women Agro-entrepreneurship Development: Issues and Challenges

Introduction

            Suleiman (2006) defined entrepreneurship as “the willingness and ability of an individual to seek for investment opportunities to establish and run an enterprise successfully” while Drucker viewed an entrepreneur as a person who perceives business opportunities and takes advantage of the scarce resources and uses them profitably. Entrepreneurs are job creators and/or become self-employed rather than seekers of jobs in an overstretched public service. Using USA standard, a woman-owned enterprise is a small enterprise that is at least 51% owned, managed and operated by one or more women.

            A small-scale farming is a farm holding established on a land area of not less than 5 hectares. In Nigeria, most of the small-scale farming enterprises are owned by men. This does not imply that Nigerian women agriculturists are not desirous of expanding their businesses due to so many challenges which border on gender issues, economic or socio-cultural barriers as well as government unfavourable policies. This paper, a purely descriptive research, employs secondary data to expound on the issues and challenges confronting the development of the Nigerian women to full blown agro- entrepreneurs for national economic advancement. The rest of the discussion in this paper is organized along the following issues;

·        Women’s potentials in entrepreneurial skills.

·        Why women entrepreneurship development?

·        Policy Framework for Women Entrepreneurship Development.

·        Challenges faced by women agro-entrepreneurs.

·        Strategies for development of women agro-entrepreneurs.

·        Conclusion.

Women’s Potentials in Entrepreneurial Skills                                             

Women in general are naturally endowed with some exceptional abilities, which if properly harnessed for entrepreneurship purpose, could result in positive and enviable results. Women by nature;

v     Have creative abilities

v     Are blessed with ability to persist and pursue their desires

v     Are good and patient nurtures of children, and this tenacity is usually transferred into business

v     Are good innovators

v     Have ability to develop passion for what they believe in

Waton (undated) cited in Okara (2005) identified the basic requirements of an entrepreneur to include: hardwork, teamwork, commitment, appreciation, listening, high expectations, setting achievable goals. Women, by nature and exposure to family relationships, possess most of these qualities that are essential and can be enhanced for entrepreneurial success.

Why Women Entrepreneurship Development?

          Many researchers have shown that poverty is a malady that incapacitates its victim economically and indirectly subject him/her to a state of destitution, voicelessness, powerlessness and even violence (World Bank 2000; Okojie, 2002) Unfortunately, the most affected sex by the above incapacitation are women and children. Statistics show that women are poorer than men. The UNDP (1995) estimated that, about 60% of the world-poors, are women. Women are poorer because they are more vulnerable economically.

           The findings of Thane (1978), Showalter (1987) and Lewis and Piachered (1987) cited in Magaji (2004) showed that women have been the poor sex throughout the 20th Century and have formed a substantial majority of the poor since poverty was first recognized. On why women are the poorest sex, the physical strength of women and various challenges limit them to specific soft duties making it difficult to be enterprising. Entrepreneurship development therefore is a crucial tool for women’s economic empowerment.

            The benefits derivable from empowering the women folk are far reaching, starting with family advancement and eventually touching on the national and global economic advancement. According to the Nigerian Minister of Women Affairs and Social Development, Hajiya H. S. Bungudu, the latest Nigerian census revealed that women constitute 49.9% of the nation’s population; the underrepresentation of women (2%) in the nation’s development processes in finance, business and investment fronts renders 40% of the population inadequately positioned to contribute to the economic growth of the country. It is the nation that blends the strengths of women and men that will lead the world in development (Kiyosaki 1993) in the field of agriculture and other sectors.

Entrepreneurship or investing is not an exclusive reserve of any gender. Both women and men generate the same result provided they follow the principles of investment. Kiyosaki (1993) proves with statistical data in United States, that women are better investors than men. A year 2000 National Association of Investors Corporation (NAIC) study found that women-only clubs achieved average annual returns of 32% since 1951 versus 23% for men-only investment clubs. The verdict is; women know how to handle money and can be greater entrepreneurs than men if the various obstacles to development is removed or minimized.

Policy Framework for Women Entrepreneurship Development

There are neither policies nor strategies for entrepreneurship development that is specifically tailored to women (Olutunla, 2008). The Nigerian government’s policy of promoting entrepreneurship dated back to the early 1970s. The hope of promoting small scale enterprises to stimulate entrepreneurship was documented in the 2nd National Development Plan (1970-74). This policy continued in the 3rd (1975-80) and the 4th National Development Plan through various strategies of technical, financial and management of the small scale industries. The Federal Government’s concern for the menacing problem of mass unemployment in the mid-1980s spurred the setting up of the National Directorate of Employment (NDE) in 1986 and the Work For Yourself Programme (WFYP) in 1987. Both were essentially joint programmes of training and financial support to entrepreneurs. The NDE operations included three core programmes (i) Youth Employment and Vocational Skills Development Program (YEVSDP) (ii) agricultural programs (iii) the small scale industries and graduate employment scheme. The NDE, though starved of fund for some time, has achieved a lot in promoting employment, create wealth and alleviating women poverty. The Better Life for Rural Women Programme (BLRWP) initiative of a first lady of the Federal Republic of Nigeria, Maryam Babangida, was an entrepreneurship development programme specifically for promoting education, health and economic development of women. It made unprecedented contribution to women through the cooperative organizations. The spirit of BLRWP is still operating today through the subsequent first ladies. A number of Non-Governmental Organizations (NGOs) also came up to promote entrepreneurship development. Prominent amongst them was the Country Women Association of Nigeria (COWAN) which contributed immensely towards women entrepreneurship development through organization of many cooperatives and micro-credit schemes and in partnership with the United Nations.             

The Role of Women in Agriculture

A significant amount of work has been carried out in developing countries on the potential of women in boosting food production. Boserup (1970) described Black Africa as the region of female farming par excellence. FAO (1982) estimated that the rural women contribute two-third of all the time that is put into traditional agriculture in Africa. Accat (1983) also pointed out that 80% of African women are engaged in agriculture. Patel and Antonio (1973) reported that 95% of the Yoruba women of the Southwestern Nigeria are engaged in farm works, growing yams, maize, tobacco and cassava, poultry and fish farming. They also participate in bush clearing, land preparation and weeding. In addition to their role in production, they are actively engaged in harvesting, processing and marketing of farm produce. The participation of Igbo men in nonfarm activities and waged employment has resulted in an increased workload for women in food crop production as well as a breakdown of the gender division of labor in agriculture. Igbo women now undertake some of the conventional male agricultural tasks in addition to those in the female domain (Ezumah and Di Domenico, 1995). The predominance of women in the small-scale fisheries post-harvest activities: micro-fish retailing, fish processing, fish distribution and marketing, make women the major players in the socio-economic development of the West African countries.

Despite women’s extensive and varied participation in agriculture, they continue to have less access to credit and modern agriculture inputs. Consequently, their farm works is labor-intensive, yields meager economic returns (Buvinie and Mehra, 1990) and operate mostly at subsistence level. International Labour Organization (ILO 2003) quoted in Akpera and Sunday (2008) reported that Nigerian and African women entrepreneurs in general are in the micro enterprise sector and almost invisible in the small and medium enterprise categories.

The Challenges of Nigerian Women Agro-Entrepreneurs

            Some of the many obstacles that hinder women enterprise development, agribusiness growth and improved income earnings include;

1)    Finance

The greatest challenge for Nigerian women in agribusiness is lack of finance. Women in agribusiness need substantial finance both for start-up and expansion. Finance could be in form of equity or from external sources. Equity from informal sources includes personal savings, friends and relatives, traditional (esusu), professional and age-group associations as well as formal co-operative societies.

External finance is majorly from banks (specialized, development, commercial, etc), government agencies, Non-Governmental Organizations (NGOs), international donors, etc. Entrepreneurs are expected to provide, in some cases, 25% of fund applied for and/or produce collaterals before accessing these external finances. It has been difficult for women to raise equity for own business because most women interested or engaged in farming earn low income. Many of the commercial or development banks are reluctant to grant agricultural loans due generally to the high agricultural risk factor or because they do not have competent assessors as in the case of fish farming. The high interest rate charged as well as the demand for collateral of landed property or other assets also compound the issue.

            Currently, the Microfinance banks (MFB) are the government’s latest major organ of policy for entrepreneurship finance in Nigeria. In an ongoing research conducted recently, it was discovered that male to female application and approval by MFB are in the ratio 65% to 35%. This discrepancy was linked to women entrepreneurs approaching banks on an individual basis and lack of soundly written business plan and/or feasibility studies (Olutunla, 2008).

2)       Manpower and Education

The whole business be- it agricultural or any other, revolves around the entrepreneur (visionary) as she combines all other human, financial and material resources to create an enterprise of value. The chief executive of the business outfit must be knowledgeable to effectively mobilize resources to advantage. Agribusiness at small or medium scale is highly professional, technologically driven and require some level of education. Education not only provides basic knowledge and skills to improve health and Iivelihood, but it empowers women to take their rightful place in society and the development process (Fasokun 2000).

      Entrepreneurial education seems to be the major key policy to promote entrepreneurship development for women in Nigeria. Entrepreneurship education should be inculcated into school curriculum at all levels. Research indicates that Small and Medium Enterprise Industrial Empowerment Scheme (SMEIES) operators ranked the reasons for failure of entrepreneurs’ application for loans and came up with reasons that range from bad feasibility studies, poor management skills, lack of proper accounting, poor character checks and attitudes among others. All these are challenges that can be remedied by entrepreneurship education. Even as the 93 approved Nigerian universities have adopted entrepreneurial studies, funds and the dearth of teachers to train the students has remained an obstacle.

A number of current training centers/programs are urban-based, for example, the Industrial Development Centers established in the 1960s are urban-based. Small Medium Entrepreneurial Development Agency of Nigeria (SMEDAN) aimed at facilitating credit, technology markets, capacity building, training and technical support for SMEs and provide adequate linkage with women bodies is urban-based and starved of funds. Agribusiness is rural-based and better educated farmers are more likely to adopt new technologies and have access to credit and extension services (Adereti, 2000).

3)          Technology

Many women, due to lack of exposure and financial limitations, still make use of old technology in farming, processing and preservation thus leading to drudgery and low output.

4)    Cultural Restrictions/Weak Land Rights:

The Nigerian culture cannot be described as being gender friendly. For example, the “Kule” policy in the North where married women are forbidden from going out of the house in daylight for business is an initiative/development-killer policy that should be discouraged in this 21st Century. In Sub-Saharan Africa, including Nigeria, where women have prime responsibility for food production, they are generally limited to user rights to land and subject to the consent of a male relative (FAO, 1982). Culture and social practices discriminate against women to be enterprise successors/inheritors or own independent assets which could easily serve as collaterals. Such unequal land rights are reflected in the smaller land sizes of women farmers thus limiting them economically.

5)       Lack of Equipment and Appropriate Technology

Despite women’s extensive and varied participation in agriculture, they continue to have less access to modern agriculture inputs. Consequently, women agro-entrepreneurs work under very difficult and laborious conditions, using crude traditional technology. Technology is closely related to finance and education. Nigerian women entrepreneurs, especially in agriculture, work under very difficult and laborious conditions, using crude traditional technology. There is urgent need for provision of modern, cost effective and affordable technologies for the use of women.  

Moreover, some new technology has often been inappropriate to women’s needs. There is a need to define some priority actions to promote the role of women in the economy because it has been showed that women are productive and efficient when they have access to the right technologies and opportunities.

6)       Erroneous Ideas about Women and Credit

There are certain myths about women in respect to credit which have made them to remain poor and limited their entrepreneurial prospects. One of such myths is that poor women make poor credit risks. This is being proved wrong as Olutunla (2008) reported that Nigerian women have been found to be more faithful in terms of loan repayment to Banks than men.

7)                Entrepreneurial Attitude

According to Akpa (2007), an average entrepreneur is rugged and aggressive. These are common attributes of men while most women are of the gentle and kind disposition. Men tend to focus on gettingthe job done while women tend to focus on being more inclusive and relational. If a woman entrepreneur is to succeed, she must adopt some level of ruggedness and aggressiveness. Success is not gender-friendly.

8)                   Research and Extension Services

For a long time, agronomic researchers do not pay attention to the role of women in the farming system. Research into the activities of women in agriculture is gaining attention only recently. A survey in Ogun State, Nigeria (Elabor-Idemudia, 1991) and Osun State, Nigeria (Ogbimi and Williams, 1999) revealed that Extension Agents visited between 7-10% of women farmers every week compared to 70% of the male farmers who received weekly visits. An FAO (1989) study found government investment on agriculture represented less than half the sector’s contribution to national income, therefore, it is reasonable to guess that women’s access to extension services and training especially in the area of fish farming, processing, packaging, distribution and marketing are unlikely to improve when the overall funding and availability of services is declining.

9)          Misplaced Focus

Many agricultural projects and programs are not suited to the special circumstances of women or may not reach women at all, thus truncating the intended effort to increase food production.

10)      Market and Marketing

Due to lack of good roads in Nigeria, electricity, poor access to information and poor networking, many farm produce perish thus discouraging women farmers.

Strategies for Women Agro-Entrepreneurship Development

·                    The complementary policy issues in entrepreneurship education should include increasing women enrolment in schools at all levels especially in the field of agriculture to reduce gender inequality. Budgetary allocation should be made to accommodate more continuing and vocational education.

·                    More seminars/workshops should be sponsored and extended to rural areas to increase women’s capacity to start and grow their agribusiness, prepare sound business plan/feasibility studies and increase their technical and managerial capacity in agribusiness.

·        Modern processing plants/storage facilities should be installed for women groups on government/private joint partnership basis so that women can process and store their farm produce with ease.

·        The enabling environment in terms of gender-friendly policies, good roads, pipe-borne water and electricity should be provided by the various arms of government.

·        Cooperatives and women groups should be more formally instituted and encouraged among women to position them strategically to access fund and other inputs with ease.

·        The Government should mandate the commercial Banks to produce more gender-friendly loan packages (low interest rates and more relaxed duration of repayment).

·        Women should be exposed to the latest agro-technology from time to time to remove drudgery in farming, processing and preservation techniques.

·        Nigerian women should be encouraged to network more, both at the national and international levels for more exposure, to access fund and export information.

·        Agro-extension institutions should be boosted and more women extension agents be trained to reduce women to extension workers ratio and for wider coverage of women agriculturists.

Conclusion

            Nigeria’s vision of becoming one of the top twenty leading economies of the world by the year 2020, otherwise known simply as vision 20:20 appears compelling enough to energize its over 150 million people (nearly half of which are women) to make the vision a reality. To accomplish this laudable goal, there is urgent need to pay attention to the development of agro-women entrepreneurs so that they can take their place in family advancement and national economic development. The government and development/change agencies must not only be prepared to recognize the economic role of the women but must also extend to them the same recognition and facilities as the men are enjoying.

REFERENCES

Accat, E.C. (1983): “Women’s Role in Horticultural Production in Developing Countries” A Paper presented at F.A.O. Expert Consultation on Women in Food Production. Rome, Italy. 7-14 December, pp. 3-7.

Adereti F.O. (2000): Poverty Alleviating Strategies for Rural Women in Osun State. Unpublished Ph.D Thesis, University of Ibadan , pp.36-37.

Akpa A. (2007): Challenges of the Nigerian entrepreneur in the twenty-first century. A paper presented at the maiden Annual College of Management Sciences Seminar, University of Mkar. 10p

Akpera D.M. and Sunday M. (2008): Strategies for the development of entrepreneurs in Nigeria. A paper presented at the 3-day International workshop on “Promoting Entrepreneurship Education Among Nigeria women: Issues and Approaches” Abuja 12p

Boserup, E. (1970): Women’s Role in Economic Development. St. Martino Press New York, George Allen and Unwin Ltd.

Buvinie, M. and Mehra, R. (1990): Women in Agriculture: What Development can do. ICRW (International Centre for Research on Women) Pp. 3-5.

Elabor-Idemudia, P. (1991): Impact of Structural Adjustment Programs on Women and their Household

in Bendel and Ogun States, Nigeria. In: Structural Adjustment and West African Women Farmers, Christina H. Gladwin (ed.), Gainesville, University of Florida, p128-150

Ezumah N. N. and Di Domenico C. M. (1995):Enhancing the role of women in crop production: A case     study of Igbo women in Nigeria. World Development, 23(10), p1731-1744.

References and further reading may be available for this article. To view references and further reading you must purchase this article.

Fasokun, T.O. (200-): The role of education in poverty eradication. In “Education for the Millennium Development” Vol.1 Eds; M.  Boucouvalas and R. Aderinoye. Spectrum Books Ltd., Ibadan pg.459-475

Food and Agricultural Organization (1982): Role of Women in Agricultural Production. FAO, Rome pg.5

Food and Agricultural Organization (1989): Effects of Stabilization and Structural Adjustment

Programmes on Food Security. Committee on World Food Security, Fourteenth Session, Rome, Italy, 3-7 April 1987.

Kiyosaki, T.R. (1993):If you want to be Rich and Happy, Don’t Go to School (Fair field: Aslan publishing)

Ogbimi G. E. and and Williams S. B. (1999): Gender Sensitivity and Marginalized Group: Assessment

of Availability of Productive Assets to Women in Agricultural Development. Unpublished Paper. 14p.

Okojie, C.E.E. (2002): “Globalization and the Women’s Enterprises; Opportunity and Challenges”. UNIFEM Women Entrepreneurs Forum. Lagos

Olutunla G.T. (2008): Policy Framework and Strategy for Entrepreneurship Development of Nigerian Women. A paper presented at the 3-day International workshop on “Promoting Entrepreneurship Education Amongst Nigerian Women: Issues and Approaches” Abuja. 15p

Magaji, S. (2004): “Introduction to Project Evaluation”. Sanitex Press.  Abuja

Patel, A.U. and Anthonio, Q.B.O. (1973): “Farmers’ Wives in Agricultural Development: The Nigerian Case” Paper presented at XV International Congress of Agricultural Economists. August 20-29, Sao Paulo, Brazil.

Suleiman, A.S. (2006): The Business Entrepreneur; Entrepreneurial Development, Small and Medium Enterprises, 2nd Edition, Entrepreneurship Academy Publishing, Kaduna.

World Bank (2000): “Nigeria at a glance”. The World Bank, Washington D.C

1Adewumi A.A.; 2Mokuolu J.O; and 3Longe O.O.

1Department of Biological Sciences, University of Education, Ikere Ekiti

Email: zoewumi@yahoo.com

Tel:08032473221

2Department of Banking and Finance, University of Education, Ikere Ekiti

3Department of Agricultural Sciences, University of Education, Ikere Ekiti

City of Raleigh Provides Free Green Job Training to Construction Professionals

City of Raleigh Provides Free Green Job Training to Construction Professionals
The City of Raleigh, Office of Sustainability has awarded CleanEdison a $45,000 contract to provide green job training to local construction professionals. The program will provide participants with hands-on energy audit training that will enable them to take part in the fast-growing green building industry. read more

Read more on SYS-CON Media

MBTA operators discuss challenges, strategies

MBTA operators discuss challenges, strategies
The chief administrators of five of the nation’s oldest transit systems last week identified the high cost of replacing and repairing aging fleets and infrastructure as their top problem, expressed hope for a federal funding infusion, and said persistent budget deficits, labor issues and building public support for transit represent continuing challenges.

Read more on Belmont Citizen-Herald

Food Security in Developing Countries

The basic needs required to ensure the survival of the human species are food, shelter and clothing. And the one that stands out of the three that have being mentioned above is food. So it is the laudable for governments of developing countries to have plans to feed their poor. But the reality on the ground is that with the prevailing economic crisis in the world, this can prove to be absolutely difficult. This is an issue that needs to be addressed and approached with lots of caution. Unlike the developed nation like Britain, United States where they have social welfare programs to support the less fortunate in their midst, the developing nations would find it quite a tall order to emulate.

The reason for me to state this is that with the prevailing economic recession worldwide which in turn have immensely affected the developing nations; it’s appearing like very little resources are being directed to other crucial development issues. It would be more beneficial if governments of developing nations can concentrate the limited available funds for development towards growing the economy and in the process pulling out the poor out of poverty. There is a saying that goes “instead of buying for me fish teach me how to fish”.

Most of these developing countries have a lot of natural resources which they can take advantage of to ensure that their countries develop. One of these areas is in maintaining the forest covers to ensure that there is sufficient rainfall. It really pains me to see governments allowing people to settle in vital water catchment areas. These people end up cutting down the tress and not making any effort to replant. Thanks to people like laureate Wangari Mathai from Kenya who is trying to advocate for nations to maintain the environment by planting trees.

Big Ideas That Changed The World – Consumerism (3/4)


Big Ideas That Changed The World – Consumerism Playlist – www.youtube.com en.wikipedia.org en.wikipedia.org This video has been uploaded for educational purposes and all rights belong to the UK-Channel 5

The Preparation For Climate Change

The world is getting smaller everyday because of the technological advancements of mankind. However, the same factors responsible for making human life and the human race better is also responsible for the degradation of the environment.

Man has been exposed to a more comfortable life and he wants more. He may have everything he needs to live a better and more comfortable life but he is becoming greedy to the point of wanting more than what Mother Nature can afford.

The environmental disasters that are reported in different countries almost every day should serve as a wake up call to humanity that perhaps, they should now be more considerate of the environment. Mother Nature may be generous but she can also become angry and vindictive when she has reached the saturation point.

The strong typhoon, earthquake, soil erosion leading to the collapse of residential areas are just some of the common disasters that are actually caused by men. Illegal logging, the throwing of industrial wastes in the rivers, increased used of un-biodegradable materials are only among the few sins mankind has committed against nature.

Evidence will point out to the fact that environmental retribution will most likely behold mankind soon and he should be prepared for a major disaster brought about by climate change anytime now or in the future.

The issue on the greenhouse effect is not just propaganda in order for environmentalist groups to earn their funding requirement. Global warming is upon us and this can be gleamed from the major environmental changes like too much heat, too much cold and other phenomenon that mankind is faced with.

But no matter what mankind does now, he can ever revert global warming; he can only delay it. What is important is mankind knows the possible effects of climate change and what can be done to alleviate the negative effects.

Climate change can lead to emergencies like the increasing level of the sea water, forest fires and other manifestations. When this happens, the scientists and world leaders should have an emergency program that they can implement to make sure that lives are not lost and properties are not wasted.

The first thing to do is to launch a massive information campaign to make the whole world aware of what is happening in the environment as a result of climate change. People should know what to expect in terms of the possible environmental disasters as well as the possible diseases that may be caused by climate change.

The best emergency preparation kit for people all over the world is knowledge. Knowledge on what is about to befall them once the effects of climate change becomes manifest in our environment would help societies lessen the brunt of the anger of Mother Nature.

Every country should prepare for any emergency brought about by climate change. Even the first world countries that have all the technology would have a hard time facing this disaster. How much more the third world countries that are not even past the problem of providing food resources for their citizens?

Every household should be taught how to prepare for climate change emergencies. They should no longer rely on their governments to see them through the effects of climate change because once that happens, there may be a possibility that even government will become debilitated to act.

Everyone has to act now. They do not have a choice.

Read about driving safety tips and hiking safety at the Safety Quotes website.

Excellent Return on investment

Caribbean Market -  Why Invest? http://www.worldwideresource.co.uk

 

Let’s use St Lucia as an example. It is an established and increasingly popular holiday destination that is also one of the most accessible – three major airlines from the UK provide a direct service to St. Lucia (8 hours), and a direct service is available from the following US airports – New York (5 hours), Miami (3 hours), Charlotte (4 hours), Philadelphia (5 hours) and Atlanta (4.5 hours). St Lucia has a stable economic and political environment with a high probability of price appreciation over the next ten years. St Lucia has many of the same advantages as Barbados but property prices are currently 60% lower.
The World Bank has recently placed St Lucia in the top 30 countries in the world to invest, making St Lucia the only Caricom country to make the top 30, ahead of Barbados and Antigua. The general crime rate in St Lucia is one of the lowest in the Caribbean, making it a safe haven for tourists and for living. What’s more the island benefits from a stable government and economy, and there are very favourable tax concessions for property buyers from overseas: No Rental Income Tax, No Capital Gains Tax, No Inheritance Tax, No Repatriation Tax. The island is still unspoilt and undeveloped, although several new developments have recently been started. The government sees expansion of tourism as a key objective and the growing popularity of the island for holidays mean that there is excellent rental potential for properties. The real estate sector in St Lucia is booming. St Lucia is still one of the most reasonably priced islands in the Caribbean for property acquisition with prices 60% lower than on Barbados. Property prices have increased by around 40% per annum for the last 2 years, and are projected to continue to rise for the next 5 years.
This all points to a fast maturing property market in St. Lucia with increasing prices, making an early commitment to a home a sound investment in lifestyle and real estate. Rental Comparison

The table below shows typical room rates for 5 Star accommodation in St Lucia with prices quoted in sterling:

Accommodation Current Price per night** Hotel Studio £130 1 Bed Apartment £180 2 Bed Apartment £250

Based on a studio apartment priced at £95,000 with a 10% Rental Guarantee you would receive £9,500 per year for the first 2 years Thereafter, a 50:50 split of the net room rate shared with the hotel. Lets’s assume a conservative room rate of £130 per studio per night

If we also assume a conservative occupancy rate of 65%* the rent receivable would be as follows:

£130 x 365 x 65% = £30,800

£30,800 split 50:50 with the hotel provides a gross income for the investor of:

£15,400 per annum

If you were to do the same calculation for a 1 bedroom and a 2 bedroom apartment the figures would be as follows:

  Rent per annum Gross Yield per annum*** Hotel Studio purchased at £95,000 £15,400 16.21% 1 bed apartment purchase price £125,000 £21,300 17.04% 2 bed apartment purchase price £150,000 £29,650 19.77%

With gross yields from buy to let investments in the UK averaging around 5% per annum the conservative figures above really do make interesting reading!

* The average occupancy rate for similar developments in St Lucia is believed to be 80 to 85%.

** Figures quoted at current room rates, which we fully expect to increase over the development period.

*** Note: the gross yield figures do not allow for the rolled up interest on the stage payments and deposit (if chosen).

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Merrill Lynch has recently published the World Wealth Report 2008

Looking To The Caribbean As A Whole

It reports on the wealth of the world, and in particular how the various property markets are doing.

In summary:

a) There is more money available globally than before
b) There are more millionaires than before
c) This wealth is being created from emerging markets – and the Caribbean is named as a HOTSPOT!
d) The ultra wealthy look to invest in places with global communications, sports facilities and a green policy – all of which we have!

Therefore there is still wealth to be invested, and there is still wealth spending money on tourism!!

Interesting quotes from the report:

Source: Robert McCann Vice Chairman and President Global Wealth Management Merrill Lynch & Co. Inc.
Merrill Lynch Global Wealth Report 2008

“The US economic slowdown weighed heavily on key mature regions. However strong performances in emerging markets boost high net worth individuals gains around the globe….world growth was strong in 2007 and drove sold increases in both HNWI populations and overall wealth”

“Growth in global HNWI wealth of 9.4 from the previous year”

“Emerging markets (showed) the greatest…gains”

“50% more cash available in Russia”

“still strong…emerging markets are likely to sustain high levels of growth”

“globally direct commercial real estate investments rose 8.4%”

“as signs of financial market recover appear, we project that high net work individuals will likely return to their pursuit of high returns, particularly in emerging frontier markets – such as the Caribbean”

“despite rising cost and financial market turmoil, high net worth individuals did not give up expensive purchases” IE Luxury purchases including property and travel.

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Quotes and Information on the Caribbean

Liam Bailey, Head of Residential Research Knight Frank
“global property prices rose by 11% during 2007″

“highest price growth achieved by prime residential properties was in Antigua (40%)”

“the strongest growth was being demonstrated in the emerging economies…with a second streak of strong growth in second home hot spots in…the Caribbean”

Financial Times, 21 April 2007
‘Demand from buyers has been strong… and property prices rose 40 per cent last year as a result.’

Ft.com, June 1st 2007
“What we are seeing in the Caribbean is a lot of new development going on and it appeals beyond the US: it appeals to the Europeans who are attracted to the Caribbean.”

Ft.com, June 1st 2007
“People are spending from $4m to $10m on the houses in the region. Certainly prices in the Caribbean are higher than in the past. It’s not difficult to spend $15-$20m or even $40m for really top of the line estates”

Ft.com, June 1st 2007
Mr Ryan recounts how the project began, 10 years ago. “In 1997, Ritz-Carlton invited me to do a project here. They are a management company, and saw that the market was underserved. They saw potential here. They tried to get the project done on their own and, when it did not happen, they decided to reach out to a developer. ‘If you make it happen, we will give you a brand and manage it,’ they told me.”

Ft.com, June 1st 2007
“The average appreciation is 12 per cent a year for the past 17 years. Bear in mind that this return is not taxed by the local authorities.”

www.Propertyweek.com, 4th April 2008
In 2007 the small overseas property fund outperformed the UK real estate by around 50%.

Peter De Savory, quoted on www.Propertyweek.com, 4th April 2008

“You can buy first class new land for $700 to $1,200/sq ft. In Barbados it’s around $2,500.”

“It’s not as if all the rich people have died,’ he says with a wry grin. ‘Leisure is quite a protected sector. There will always be people who need a holiday in the sun, and not everyone in the world wants Dubai or the south of France.

‘Provided you are creating value in the mind of the customer then the price is not the issue. It’s not whether it is expensive or cheap. We’re not providing people with essentials we are providing them with an indulgence. ‘Value is intangible. It’s about an aroma of attractiveness. There is no logic to it…
Figures from World Tourism Organisation, “Tourism highlights 2007”
Globally, international arrivals have grown by 400 Million people since 1990, a growth rate of 94%, averaging 3.6% per year since 2000. Within the Caribbean, international arrivals have increased by 8 million people in the same period, an increase of 41.2%, with an average of 2.2% since 2000.

Ft.com, October 3rd 2004 and March 28th 2003
The tourism industry brings the Caribbean’s struggling economies about $20bn (£13bn) a year, and accounts for 30 per cent of gross domestic product and provides one of every four jobs.

The $20bn tourism industry is the ‘economic mainstay’ for many of the Caribbean’s island states. For example, ‘the gross domestic product for the Bahamas was $5.3bn last year. Seventy per cent of that was generated from tourism-related business.’

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Quotes and Information Specific to St Vincent & The Grenadines

Tourism
www.svgtourism.com
Caribbean tourism organisation, “St. Vincent and The Grenadines 2006”

In 2006 the breakdown of international visitors to St. Vincent and The Grenadines breaks down as follows:

US 28,598 (29.4%)
UK 14,837 (15.2%)
T&T 11,002 (11.3%)
Canada 6,542 (6.7%)
Other Caribbean 27,217 (27.9%)
Other Europe 7,214 (7.3%)
Rest of World 2,112 (2.2%)

The number of UK visitors to St. Vincent and The Grenadines in 2006 was 14,837, 15.2% of the total number of visitors to the island (94,432). The total number of arrivals has increased by 25.5% since 2002 at an average rate of 5.93% per year during this period.

In 2006 Total Expenditure by tourists was $95.6 million.
The Tourism Budget was $3.474 million.

In 2007 total visitors increased by 16.5%. The UK (21.4%), Canada (8%) and USA (2.7%) all saw significant growth.

Economic Growth
Eastern Caribbean Central Bank
Between 2003 and 2007, the economy in St. Lucia has grown on average at 6.03%

Tax Incentives
National Investment Promotions Inc
In line with the governments aim to encourage growth in Tourism concessionary rates of tax are payable on property.

For tourism related development where the occupancy tax is applicable and the annual rental value exceeds $20,000 the tax charged is 1.5% rather than the usual 5%.

Investment Promotions Inc
Hotels with more than 35 rooms are granted 15years income tax exemption from date of opening of the resort.

An approved construction order grants concessions for construction materials for excise duties and consumption tax

Resorts accommodating more than 100 people are exempt from import duties on food and beverages.

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Quotes and Information Specific to Barbados

Tourism
Figures from Caribbean tourism organisation, “Barbados 2006”

In 2006 the breakdown of international visitors to Barbados breaks down as follows:

2006 visitors UK 211,523 (37.6%)
US 130,767 (23.2%)
Other Caribbean 82,989 (14.8%)
Canada 49,198 (8.7%)
T&T 34,480 (6.1%)
Other Europe 29,400 (5.2%)
Rest of World 24,201 (4.3%)

The number of UK visitors to Barbados in 2006 was 211,523, 37.6% of the total number of visitors to the island (562,558). The total number of arrivals has increased by 13% since 2002 at an average rate of 3.13% per year during this period.

In 2006 the total Expenditure by tourists was $ 763.2 Million. This averaged out to $127.48 per day for each tourist in Barbados.

Economic Growth
St. Lucian Budget Address for Financial year 2008/2009
Economic growth for Barbados in 2007 was 4.3%.

Ft.com, January 23 2004
When considering the welcoming nature of the locals to settling tourists it is worth considering the Bajan Governments policies. Described as “far-sighted,” All its beaches are available for use by the whole population as they are national property. This encourages integration between visitors and Bajans.

Tax Incentives
Barbados Tourism Investment Inc, “Legislation and Incentives”
One of the main tax incentives offered by the Bajan government is the Tourism Development Act. This was designed to offer incentives to expand the tourism and hospitality sector by offering incentives and corporation, Import Duty and other tax concessions.

These incentives also include provision for “investors in tourism projects to benefit from write off of capital expenditure and 150% of interest. There is also exemption from import duty, value added tax and environmental levy in respect of furniture, fixtures and equipment as well as building materials, supplies and equity financing.”

Concessions under this act include:
Duty-free importation (including waivers of Value Added Tax (VAT) and Environmental Levy) of building materials and equipment during construction and rehabilitation;
Duty-free importation (including waivers of Value Added Tax (VAT) and Environmental Levy) of supplies for refurbishment of hotels, restaurants, villas and sports and recreation facilities for tourism purposes;
Extended tax holidays/write-off of capital expenditure and accelerated write-off of interest;
Training of empoyees;
Marketing
PriceWaterHouseCoopers, Tax, Facts and Figures: Barbados 2006
Barbados also offers other tax concessions. Land tax is calculated and payable on only 50% of the improved value of the property for hotel developments.

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Quotes and Information Specific to the Dominican Republic

Dominican Republic: Tourism and Economy Statistics and Government Incentives

Tourism
Figures from Caribbean tourism organisation, “Dominican Republic 2006”
In 2006 the breakdown of international visitors to the Dominican Republic breaks down as follows:

USA 1,092,317 (27.5%)
Other Europe 812,511 (20.5%)
Canada 509,323 (12.8%)
UK 242,559 (6.1%)
Germany 226,737 (5.7%)
Italy 144,115 (3.6%)
Other 937,493 (23.6%)

The number of UK visitors to the Dominican Republic in 2006 was 242,559, 6.1% of the total number of visitors to the island (3,965,055). The total number of arrivals has increased by 43% since 2002 at an average rate of 9.62% per year during this period. The Dominican Republic had the largest number of visitors of any Caribbean Island, making up 2.9% of the all visitors to the Americas region.

In 2006 the total expenditure by visitors was $3180.4 Million.

World Tourism Organisation, “Tourism highlights 2007”
The Dominican Republic had the 2nd largest increase in visitors throughout the whole Caribbean in 2007: 7%

Economic Growth
Caribbean update, May 2008
In 2007 Foreign Direct Investment (FDI) increased in the Dominican Republic by 16.3% to US$723.3 million. FDI for Real Estate increased by 120% and in tourism by 58.1%.

Tourism Development Law – Guzman Ariza Law Attorneys

This is a good example of Dominican incentives to increase pace and process of development in the tourist industry.

Qualifiers for the incentives include: Hotel facilities, resorts and/or hotel complexes; Construction and/or operation of tourist infrastructures, such as aquariums, restaurants, golf courses, sports facilities, and any other that may qualify as a tourist activity.

The Incentives for Businesses domiciled in the country include one hundred percent (100%) exemption from paying the taxes listed below:

1. Income tax

2. National and municipal taxes levied on the use and issuance of construction permits, including land purchase documents.

3. Import duties and other taxes, such as tariffs, fees, late charges, including the Tax on Transfer of Industrial Goods and Services (ITBIS) that are applicable to the equipments, materials and furnishings needed for initially equipping and putting into operation the tourist resort concerned.

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Quotes and Information Specific to St Lucia

Tourism
Caribbean tourism organisation, “St. Lucia 2006”
In 2006 the breakdown of international visitors to St. Lucia breaks down as follows:

USA 117,450 (39.8%)
UK 73,312 (24.2%)
Canada 17,491 (5.8%)
Caribbean 78,464 (25.9%)
Other Europe 9,648 (3.2%)
Rest of World 3,450 (1.2%)

The number of UK visitors to St. Lucia in 2006 was 73,312, 24.2% of the total number of visitors to the island (302,510). The total number of arrivals has increased by 19.4% since 2002 at an average rate of 4.68% per year during this period

In 2007 the total expenditure by visitors was $808.3 Million
The tourism budget was $6.918 Million.

In 2007 Visitors from UK rose 8% and Cruise ship arrivals rose 69.7%.

St. Lucian Government, “Tourism by numbers” Budget Address 2008-9
The St. Lucian Government has allocated an extra 148% funding to the tourism industry from 2004 – 2008, with an average increase of 27.7% per year. The allocation for the tourism sector in 2008 – 2009 was $53.6 Million.

Occupancy rates increased on small properties 10.7% and an average of 6% over 2 years to 70.3%. The whole island had an occupancy rate of 67.8% up at an average of 4.5% over 2 years. In 2007 the Hotel occupancy was 69.7%.

In 2007 the number of UK stay-overs increased by 8%.

Economic Growth
Eastern Caribbean Central Bank, Annual Economic and Financial Review 2007
Economic Growth in the St. Lucia has been on average 3.45% between 2003 and 2007.

Budget Address 2008-9
In 2007 the real estate sector grew by 7.6%.

St Lucia the new tourist destination

Ft.com, 10 May 2008
“…now there’s another Caribbean location for those wanting a home combining sun and the simple life in the shabby-chic style of the old Barbados. Welcome to St Lucia.”

Financial Times, 21 April 2007
“In an effort to protect its natural heritage from overdevelopment, the Caribbean island’s government now has an environmental section in its ministry of planning and nearly 30 laws setting out restrictions on new construction. But Dolby, whose company, DCG Properties, is building the £400m Le Paradis next to the sleepy village of Praslin on St Lucia’s east coast, says he welcomes the safeguards.”
“Spoil a place like this,” he says, sweeping his arm across a 550-acre vista, “and you spoil your greatest asset.”

“St Lucia is as progressive in its property schemes as it is in environmental protection, with a growing number of resorts where developers, hoteliers and owners share both risk and profit.”

Ft.com, 10 May 2008

“Recent changes to limit development include a compulsory environmental impact survey to measure the effect of a scheme on land, local people and wildlife. There is also a ban on building new homes within 100 metres of the coast.”

The local authorities are acutely aware of the high density building on some of the other Caribbean islands,” says Charlotte Wilson of Savills, the London-based estate agency that sells property on the island. “They’re working with conservationists and introducing restrictions to ensure St Lucia doesn’t go the same way.”

 Here are some news links for information about the Caribbean region. It makes some interesting reading as it is clear even with the “credit crunch” the region is booming.  

Global credit markets may be depressed but the investment banking community continues to show strong interest in doing business in the Caribbean.

There is strong interest in the Caribbean from the investment community that is looking at the future and the vacation market continues to be healthy.

 

 

 

St Lucia & St Vincent offer excellent overseas investment prospects to escape the UK property crash

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