Over $244M in grants from SBB in four years

─ $40 million for 2019

 DPI, Guyana, Friday, December 27, 2019

Guyanese have been making the best of the services provided by the Ministry of Business’s Small Business Bureau (SBB), an agency that has been making life easier for many.

In just under four years, the lending agency has disbursed over $244 million in loans and grants.

Minister of Business, Hon. Haimraj Rajkumar reported that the grants were spread out to all 10 administrative regions with young women being the largest group of beneficiaries. More than $44Million was disbursed this year.

The minister said that in addition to financial grants, they also provide services such as training in accounting, business proposal writing, marketing, and other areas.

According to Min. Rajkumar, the success stories have been overwhelming and the Bureau works continuously with individuals who have accessed their service.

“I would say a high percentage have been successful. When a person comes to you and we go through these processes and they last to the end before they get the grant, we are satisfied that you are interested and motivated in having your business going.”

The objective of the SBB, the minister said, is to help citizens with innovation and “give them a little push” to ensure there is a pool of excellent entrepreneurs in the near future.

“By doing that too, you create employment for yourself and for others,” he said.

Meanwhile, in the area of investment, the minister reported that Guyana has been attracting many foreign investors.

At least 10 new companies have come on the scene and will begin operations by year-end.

The new investments bring with them more job opportunities for Guyanese and of course, increased contribution to the economy, the business minister noted.

“That is something that I really appreciate; that when companies come, they not only work but provide jobs for our people,” Minister Rajkumar said.

He projects a leap in investments in just about two years.