The Georgetown Chamber of Commerce and Industry (GCCI) is determined to see success in the development of Small Business Enterprises (SMEs)

This is according to the senior Vice-President of the (GCCI), Mr. Lance Hinds, who announced that in association with the Guyana Office of Investment (Go-Invest) and the Caribbean Expo Development Agency (CEDA), another workshop will be held to discuss the development of (SMEs).
He made the disclosure at a media briefing last Thursday at the boardroom of the GCCI where he indicated that a workshop will be held at the Pegasus Hotel tomorrow.
He noted that these workshops are held as part of the Chamber’s work programme for 2013-2014 and also its continued focus on the development of SMEs.
He stated that the Chamber believes that it is the sector that has the potential to provide signature input into the economy as a whole.
He said the objective of the workshop is to provide information to the entrepreneurs and entities about a program that CEDA directs assisting in a “grant team.”
He explained that there are two ways persons can access funding, one being the accelerated strategic facility where successful business owners can apply for and access up to 5,000 Euros,  and the regular strategic facility where an entrepreneur can have access up to  40,000 Euros, however, for this, there are certain requirements, for example, one has to be legally registered to operate in a CARICOM state and must have at least two years in business and be able to produce the relevant financial statements for those two years.
He noted that the persons must be able to sustain the project from the beginning as the money will not be handed to them upfront, hence they have to be an entity that can start the process with your own funding and then submit claims for expenditure.
He further stated that when the project is halfway and completed, the business can then commit again for the rest of the funding.
He emphasised that there are rules and regulations, and one of the aims of the Chamber is to get more Guyanese participating as these opportunities are all over the Caribbean and are all very competitive.
He added that for the 15 companies that participated last year from Guyana, only six were successful,  adding that the proposed project must have the potential for it to be successful and the GCCI will assist business owners in organising trade shows and exhibitions as it is a critical part for business development.
He disclosed that on April 24 discussions will be held at the GCCI for those who are interested in applying for the grant and to see who are qualified etc.
He explained that CEDA has been around for quite some time, but lit has only been a recent development of Guyana taking advantage of the facility.
Export Promotion Officer of Go-Invest, Ms. Uchenna Gibson, stated that this is the third workshop of this kind and noted that what business persons should be aware of is that this is a grant and not a loan.
She explained that it is money that is given to enhance businesses in aspects such as marketing, training sessions, organising trade fairs and enhancing packaging, materials etc.
She added that a representative of CEDA from Barbados will come in to speak with those attending the workshop with information regarding the entire process, and also providing information on how to apply for this grant etc
Gibson noted that she is looking forward to more companies participating and applying in 2013.
She emphasised that for the businesses that were unsuccessful last year, they are most welcome to re-apply this year as only persons who are registered will be able to benefit.