EXPANDING SMALL BUSINESSES IN GUYANA
SMALL business can be an effective vehicle for  development of the national economy through the production of goods, and the provision of services.
Throughout Guyana, these businesses provide employment for many citizens and therefore significantly reduce poverty. They represent more than three quarters of the total business activities and thus make a sizable contribution to the generation of employment and incomes. Over the years, small businesses have demonstrated some capacity to be innovative, flexible and responsive to market forces and opportunities. The sector has the potential of creating both backward and forward economic linkages, to reduce foreign currency expenditure, to utilize local raw materials inputs, and to enhance economic and social conditions generally.

All efforts should be made to develop and maintain a practical and decisive integrated, strategic plan that will effectively serve to move the sector forward and on a sustainable path to longer-term growth and development.

The solid support for the small business sector development demonstrated by the Government is encouraging and commendable. The Small Business Act (No. 2 of 2004) was developed and under this act many businesses are given the opportunity for training in the areas of management, marketing and product development that will facilitate their growth and competitiveness. The Act also offers increased access to credit and a fund will be established to offer guarantees for persons who apply to financing institutions for loans.

The Small Business Bureau has the task of coordinating the development of the sector and it must continue  helping these businesses to meet the challenges facing the sector in order for rapid development to take place.

The Guyana National Bureau of Standards (GNBS) has also developed a national standard for the small business sector to enable it to consistently meet applicable requirements for quality, environmental and occupational safety and health.

The standard which specifies guidelines for a management system is aimed to enhance the performance of the sector, through the process of continual improvement, assurance of conformity, and the prevention of non-conformity by the application of the system.

Small businesses now have much needed support, through which they can upgrade, enhance and improve their operations, and this can then enable them to become more competitive and gain easier market access for their goods and services, regionally and internationally. The GNBS is ready and willing to provide technical assistance to any business requiring its support in the area of product certification or in the implementation of management systems.
For further information please contact the GNBS on telephone numbers: 219-0064, 219-0065, 219-0066. Or website: www.gnbsgy.org