Small businesses in Guyana continue to benefit tremendously from the support and services provided by the small business bureau, which facilitated the approval of 56 loans valued at approximately US$1M, this year for budding entrepreneurs.
This was disclosed by Fund Manager of the Small Business Bureau, Gillian Edwards during its year end press conference today.
Additionally, a total of 72 grants were approved this year and is expected to expand in the new year.
The Small Business Bureau was created with the aim of providing Incentive regimes and support programmes for small businesses.
While the Bureau has done significant work in helping small business owners transform their operations, they have experienced difficulties in reaching out to budding entrepreneurs out of region four.
The Small Business Bureau is considered a one stop shop by many young business owners or aspiring entrepreneurs who are uncertain of the procedures in expanding and/or developing their business.
With a budget of $73M for 2017, the semi-autonomous Bureau plans to intensify its work.
Some programmes for the new year include greater public awareness, hosting a small business awards, hosting an entrepreneurship summit, among others.