— efforts afoot to establish e-commerce marketplace, suppliers’ registry

WITHIN the last seven months, the Government of Guyana, via the Small Businesses Bureau (SBB), has disbursed a quantity of grants to assist small businesses throughout the country. More specifically, since the People’s Progressive Party Civic (PPP/C) assumed office in August 2020, an estimated $99 million has already been spent on supporting the operations of local small-scale entrepreneurs and their entities.
This is according to Minister of Tourism, Industry and Commerce, Oneidge Walrond, who explained that the monies have benefitted some 300 persons/entities.
“That was a direct cash injection to encourage and spur growth in the small business sector,” Walrond told the 131st Annual General Meeting of the Georgetown Chamber of Commerce and Industry (GCCI) on Tuesday.

She said that the administration had recognised that small businesses needed the impetus for growth, and as a consequence, the government spared no efforts in facilitating Small Business Support Grants from $200,000 to $500,000.
“I have read suggestions from business representatives, published in the media, that the government ought to be giving much larger grants in order to ensure the viability of small and micro enterprises,” Walrond noted.
She cautioned that even though the government does not have an unlimited amount of resources, it has vowed to ensure that critical assistance is given to small businesses.

“There are also other sectors—health, education, agriculture among others that have a valid stake for government’s resources,” the minister posited.
She noted that even though the Small Businesses Support Grants represent a significant chunk of investment, it is not the only approach being taken to aid in the advancement and growth of small-scale entrepreneurs.
The Tourism, Industry and Commerce Minister also pointed to government’s recent efforts in amending and expanding the Small Business Act of 2004, which will now pave the way for small businesses to have access to 20 per cent of all government contracts.

POSITION YOURSELF

“This means (small) businesses now have access to billions of dollars of government resources. I am encouraging all chamber members, and I know many of you are classified as small business, to ensure that you position yourselves to benefit from this facility,” Walrond told the GCCI forum.
Previously, the Small Business Act referred to access to contracts for goods and services; however, with the February 2021 modifications, it now enables small contractors and construction firms to bid for works within Guyana’s growing infrastructure sector.

As Guyana pursues a comprehensive and all-encompassing modernisation agenda, the Ministry of Tourism, Industry and Commerce is working to develop a centralised e-commerce marketplace for all small business clients. This initiative, according to Walrond, is intended to increase the economic viability of the local small business sector. “[This] will undoubtedly create a larger access to customers, help to boost sales and build local brands,” Walrond projected.
Additionally, Minister Walrond used the forum to announce government’s intention to establish a suppliers’ registry. “This registry will be an important resource that informs the procurement process and will ensure that the facilitatory environment is functional and that small businesses benefit,” Walrond said.

She indicated too that the Ministry of Tourism, Industry and Commerce is working closely with the Ministry of Finance and the Procurement Commission to ensure this new arrangement is fully implemented in the near future.
President, Dr. Irfaan Ali, recently lauded the input of small businesses, and their role in advancing the economy. “They generate significant self-employment and help to sustain growth and foster the effective distribution of goods and services…. Small businesses represent the arms and legs, propelling our economy forward, sustaining employment and acting as a vital cog in the distribution, marketing and consumption of goods and services of large businesses,” Dr. Ali said.