OWNERS of 12 small businesses received much-needed financial relief from the Small Business Bureau (SBB) to keep their businesses afloat, as they weather the storm caused by the Novel Coronavirus (COVID-19).

The Ministry of Business, which has oversight for SBB, said cheques totalling $1.6 million were distributed to those business owners during a simple ceremony, on Monday.
“Small businesses in Guyana have begun receiving grants as part of the government’s Small Business Relief Grants and Services initiative,” said the ministry in a press statement.
The relief is intended to strengthen and sustain small businesses through the provision of relief grants, training, and development support.

In handing over the cheques, Minister of Business, Haimraj Rajkumar, told the business people, that the government understood the challenges faced by small businesses at this time, and would do everything possible to ensure support was delivered.
Minster Rajkumar said that while he knew that the grants would not treat with the full scope of their challenges, it was a gesture from the government to offer some type of support.

The minister urged the businesses to use the funds for the purpose for which they were intended. Also present at the distribution were Permanent Secretary of the Ministry of Business, Karen Vansluytman-Corbin, and Chief Executive Officer (CEO) of the Small Business Bureau, Dr. Lowell Porter. Another set of businesses will receive relief grant cheques on Friday.

Guyana Chronicle had reported that the aim of the bureau’s initiative was created to strengthen and sustain small businesses, through provision of relief grants to sustain business operations and retain employees, along with training and development support to establish and market businesses through online platforms, diversify businesses and forge supply partnerships.

Though the bureau has approximately 10,000 businesses on its database, by law, the bureau can only work with those businesses that have been compliant. Only 400 of the registered businesses have been compliant.

“There are a lot of expectations on what the SBB can provide to these businesses that are not true. The SBB doesn’t lend any money; we’re not a lending agency, there’s nobody repaying us for anything,” said Dr. Porter, in a previous report.

He suggested that small businesses band together and assess ways in which they could even help each other out.

“I advise that they start working together. For example, if you own a restaurant, arrange with a delivery service. I believe there are opportunities, but we need to talk to the clients first and see what is going on, and we just started that process,” Dr. Porter said.
The bureau is also helping clients with the setting up of online platforms and according to Dr. Porter:

“They have to maintain an interface with their clientele. If the business can be done online, they can utilise an online portal. If they do not have one, we are reviewing how to help them have an online presence,” Porter said.

In a recent interview with the Department of Public Information, Minister Rajkumar, had said that a new agency has been set up to organise assistance for small businesses and farmers.

The Coordinating Agency for Small Enterprises (CASE) was established under the leadership of President David Granger and is aimed at supporting farmers and small business owners and employees.

“CASE, is comprised of agencies from the Ministry of Business and the Ministry of Agriculture and part of its responsibility is to develop measures to alleviate poverty, create employment, stimulate domestic production and consumption of locally produced goods,” Minister Rajkumar explained.

He noted that the coalition government is encouraging citizens to buy more locally-produced products to support small businesses and to stimulate Guyana’s economy.
“We recognise that our small businesses, our farmers, their main activity is farming, agro- processing; producing, manufacturing … so we must boost their activity; produce more locally. Therefore, we are encouraging our citizens to buy more locally-produced items and in doing so you will indirectly support our local industry,” he said.