By Navendra Seoraj
IN a time of distress and instability, the Small Business Bureau (SBB) has stepped up and provided financial support to 70 small businesses.
Guyana’s economy, like many others, has been suffering because of the Novel Coronavirus (COVID-19) pandemic, and while some sectors have managed to stay afloat, small and medium size enterprises, which form part of the commercial sector, have been struggling to “break even.”

As part of an effort to help those businesses “keep their heads above water,” the SBB has so far disbursed relief grants totaling $10.5M.
Chief Executive Officer (CEO) of SBB, Dr. Lowell Porter, told this publication that the bureau has been disbursing funds to its clients, once a certain criterian is fulfilled.
In addition to those business which have already benefitted, the bureau will be providing support to an additional 24 clients in the new week.
Dr. Porter said over 200 applications have already been examined, but 49 per cent of those applicants are not clients of the bureau.
“We have been encouraging them to join and, so far, 63 have done so and seven of them have received funding,” said the CEO.
The bureau has received and processed applications from businesses within every administrative region, except Regions One (Barima-Waini) and Nine (Upper Takutu-Upper Essequibo).

When asked how long the bureau will be able to sustain the project, Dr. Porter said the initiative will continue once funds are available.
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 past interview with the Department of Public Information, Minister of Business, Haimraj 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.