MINISTER of Business Haimraj Rajkumar has tabled a Small Business (Amendment) Bill intended to raise the requirement for the classification of small businesses.
Minister Rajkumar presented the bill to the National Assembly, on Friday, for its First Reading.

Clause 2 of the Bill, which amends section 2(1) of the Principal Act, seeks to ensure that once a business employs not more than 25 persons; has a gross annual revenue of not more than $60M, and total business assets of not more than $25M such a business in addition to satisfying the other applicable conditions stipulated in section 2 (1) (a)-(e), will be classed a small business for all intents and purposes of the Act.
It was explained that the amendment will make it mandatory for a business to satisfy all three of the criteria instead of two in order to be classed a small business.
Additionally, Clause 2 of the Bill, which amends section 2(3) of the Principal Act, seeks to allow the Small Business Council to grant “approved small business” status to businesses based on recommendations from the Small Business Bureau.

Clause 3 of the Bill is intended to expand the procurement opportunities for small businesses to include government works to be executed. “The Principal Act provides for at least 25 per cent of Government procurement of goods and services to be obtained from small businesses,” the Minister of Business, in proposing the legislative changes, explained, noting that Government works are excluded from this provision in the Principal Act.
The proposed legislation comes days after the National Assembly passed the Procurement (Amendment) Bill which paves the way for small businesses to be given preferential treatment for certain procurements.

Once the Bill is assented by President David Granger, Part II, Section 3A (1) would mandate procuring entities to procure only from small businesses approved under the Small Business Act, goods, works and services as specified by regulations made by the Minister with advice of the Public Procurement Commission or the National Procurement and Tender Administration Board.
Additionally, the Bill once brought into effect will mandate the National Procurement and Tender Administration Board to maintain and keep updated in a registry, a register of bidders.

“Every supplier or contractor shall apply to be registered as a bidder in the register of bidders in order to participate in procurement proceedings at least seven days before taking part in any procurement proceedings,” a section of the bill states.