SBB grant fund exhausted

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THE grant fund of the Small Business Bureau (SBB) has been exhausted but programmes, loan facilitation and other technical services are available.

A reliable source from the SBB said the fund was depleted because of the influx of micro, small and medium scale businesses over the past year.

Grants once limited to G$300,000, were increased up to G$1M through a new system which made it easier for small businesses to be developed in Guyana.
According to the SBB, the fund will not be replenished this year but they hope to get more money for the grant in the 2019 budget.

Despite the depletion of the fund, there are still business management training programmes and other technical programmes which the SBB offers.

According to the 2018 budget, $100 million had been allocated towards the establishment of the Small Business Development Fund. This served as a revolving loan fund to address the needs of businesses that cannot meet the requirements of the traditional banking system.

Twelve persons were also the recipients of G$1M each for financing of their “green” business ideas, made possible through the SBB’s Green Business Technology Fund.
The SBB had also implemented a programme which registered companies that meet certain criteria with regard to standard and quality.

Those companies formed a list of companies that the bureau can recommend to larger companies looking to sub-contract or contract Small-to-Medium Enterprises (SME).