SMALL businesses with ground-breaking, ‘green’ business ideas and solutions were, in June, offered the opportunity to gain assistance from the Small Business Bureau (SBB) through their Green Business Technology Fund initiative.

Eligible applicants were advised to submit an application to be amongst 12 lucky persons to be awarded $1 million each to aid in the development of their business. However, due to the large number of submissions, that number was increased to 20 on October 5 and the deadline for the submission of applications was extended.
Launched in 2017, the SBB’s Green Business Technology Fund is geared towards encouraging the implementation of businesses that incorporate fundamentals of the Green State Development Strategy. It supports a new idea which presents an innovation that improves the delivery of services. The solution must include the use of either: a software application, development of a prototype or and involve the use of ‘green’ energy. The businesses involved range from start-up to existing business but must be considered as a ‘small business’ as defined by the Small Business Act of 2004.

Since the project started in 2017, winners have included owner of One Cart Dash, Fendel Etwaroo, and creator of bartering app “Swopp” Shemar Spencer.
In a recent interview with this publication, SBB’s Marketing Officer, Shamane Headley, noted that the business project is a technology-based initiative that ensures environmental sustainability. SBB has assisted a wide range of businesses/initiatives such as online service providers, online delivery service providers, agricultural business projects that employ new technology to research rice production, online small business market places and agri-based businesses that incorporate modern technology to convert waste into fuel.
Furthermore, once the application process is closed, the submissions will be reviewed and sent to a panel of judges who will select the winners.

“We have external members from the business and professional community who judge the proposals, such as business owners, CEOs and those types of persons. Every year the judges change and the winners are also announced within a month,” Headley said.

SBB is a semi-autonomous agency established under the Ministry of Business in keeping with the Small Business Act of 2004. It was established in 2010, and became operational in 2013 with funding from the Guyana REDD+ Investment Fund (GRIF), for the ‘Micro and Small Enterprise Development (MSED Programme).