Minister of Tourism, Industry and Commerce Susan Rodrigues highlighted this during an appearance on the Starting Point podcast on Sunday, where she outlined the government’s continued support for small businesses through financing, training, mentorship and opportunities to access new markets.
The minister noted that over the past six years, some 177 small businesses have accessed commercial loans valued at approximately $1.6 billion through the programme, which helps entrepreneurs meet requirements when seeking financing from commercial banks and other private financial institutions.
Through the initiative, businesses can access loans of up to $30 million, with the bureau guaranteeing a portion of the collateral required by financial institutions.
“More than 50 per cent of these businesses are women-owned,” Minister Rodrigues noted.
Additionally, 6,511 new small businesses registered with the SBB between 2020 and 2026. The bureau has helped entrepreneurs promote their products and connect with potential customers through sponsorship and participation in exhibitions and trade shows.
Between 2020 and 2026, the SBB supported 493 businesses in participating in EXPO events across Guyana.
Businesses have also received support to participate in regional and international exhibitions, including Agrofest and trade shows in Brazil, St Vincent and the Grenadines, and other Caribbean destinations.
Minister Rodrigues explained that these opportunities allow entrepreneurs to showcase their products, reach new customers and prepare their businesses to compete in larger markets.
However, she emphasised that the programme’s success should not be measured solely by the number of businesses established, but by their ability to remain operational and sustainable.
“It’s not about the amount of businesses that were opened or started in the last six years. It’s about how many remain in business, how many are sustainable, and how many continue to support families and community development,” the minister stated.
The minister noted that the bureau’s monitoring and evaluation department conducts visits to businesses twice annually. Over the past six years, more than 7,000 business visits were conducted, with approximately 75 per cent of the businesses monitored remaining in operation. (Department of Public Information)
