Over $1B injected to support micro, small and medium enterprises

The Small Business Bureau (SBB) has injected over $1 billion to support more than 4,000 micro, small and medium enterprises nationwide in the last five years.

This update was provided by Minister of Tourism, Industry and Commerce, Susan Rodrigues, during a live broadcast on Wednesday. She also added that “$57 million has been spent to support community development.”

These developmental projects include the construction of shade houses in Regions Six and Ten.

“The Small Business Bureau continues to expand access to concessional loans, mentorship, and incubator support,” she stated.

As a direct result, over 11,000 businesses have benefitted from extensive hands-on training in the last five years.

Minister Rodrigues explained that this effort is critical in upskilling and instilling resilience in the country’s micro, small and medium enterprises.

Beyond training opportunities, thousands of entrepreneurs have also benefitted from loans and sponsorship opportunities.

More than 50 people with disabilities have received zero-interest loans, enabling them to join the formal economy.

“They have been empowered with financial freedom, and we continue to monitor their businesses and livelihoods,” the minister said.

The SBB has also supported local businesses through sponsorship at trade expos.

Over 50 businesses were sponsored to participate in the recent GUYEXPO, where they displayed products for free and were able to reach new markets, including international buyers.

Similarly, 16 small and medium-sized businesses are also being sponsored at the ongoing Christmas Village on Main Street.

Minister Rodrigues said regional exposure remains a key focus, with Guyanese businesses sponsored to participate in events in Barbados and elsewhere in the Caribbean.

She also pointed out how business incubators in Lethem and Belvedere were started under the PPP/C administration.

The facilities support agro-processors by providing equipment, staffing, packaging and processing services at no cost, enabling small producers to turn raw materials into value-added products.

These investments, the minister said, are geared toward lending support to local entrepreneurs so they too can benefit from the country’s rapid expansion.