THE Small Business Bureau (SBB) has provided grants of up to $200,000 to those of its registered clients who have proven that they were affected by the COVID-19 pandemic.
The Bureau has been engaging clients and prospective clients throughout the lockdown, and created the COVID-19 relief programme to support struggling businesses.
Chief Executive Officer Dr. Lowell Porter said the grant, which is different from the Government’s $25,000 per household cash relief, is for clients who meet the requirements.

“Our clients have been very negatively impacted, and some of them have had to shut their doors, while there are some others who have been steadfastly trying to survive,” he said.
Added to this, he said, “In Guyana’s economy, small businesses are very, very small, so any kind of negative impact to any degree, affects them terribly. Their lives are involved; their livelihoods are involved. These people depend on that for their very existence.”
Following a survey, the SBB decided to create the grant, which offered small businesses who met the requirements, grants of between $75,000 and $200,000. More than 130 small businesses have since benefitted from that programme.

Businesses which were not SBB clients, but expressed an interest in the grant, were encouraged to register with the Bureau.
“Imagine you have somebody who never knew about us, now they heard, in times of need, and we were able to help them,” Dr. Porter said.
Considering the long-term implications of the pandemic, the Bureau aims to help businesses emerge more resilient and more successful. The programme is ongoing, and small businesses are encouraged to contact the SBB for guidance and support.

“There are lots of businesses out there that could not get help from us, because they are not formalised. They are not regularized; they are not even registered. And some of the owners do not pay taxes; they don’t contribute to the NIS, and it’s all because most times they do not understand how that works,” Dr. Porter explained.

In light of the foregoing concerns, the Bureau will be working with the National Insurance Scheme (NIS), the Guyana Revenue Authority (GRA) and other stakeholders to raise awareness about the importance and benefits of having businesses regularised.

Meanwhile, Dr. Porter hopes that the Bureau can help more tourism businesses, as there will be a “new push” to help the sector bounce back. The Emergency 2020 Budget provided $100 million for the Small Business Development Fund, which Dr. Porter said would continue to be used to support small businesses through the grant scheme. (DPI)