— to keep up with Guyana’s economic growth

BIG companies are at the centre of attention in the oil-and-gas sector, but many small businesses have quietly begun to also position themselves to capitalise on opportunities that will be there for them.

Some of these businesses featured at the recent “Duty-Free Shop” at the Umana Yana told the Guyana Chronicle that they see big room for growth in the expanding oil-and-gas sector.

Artisanal craft-maker, Frankie Limerick, said he firmly believes that there is a niche in Guyana’s growing economy for his business, which retails handmade mirrors, decorated tables, jewellery boxes, ornaments and other craft items.

“I see a place for me in Guyana oil-and-gas economy because the way I see it, the items I produce will be in greater demand there. So I am looking to expand my business. I see it as an opportunity,” he said.

Limerick has been in the business of making craft items for over 40 years and while he had previously focused on small craft and ornaments, he now has plans to expand into producing decorated furniture for home décor.

The Duty-Free Shop was set up to complement the four-day 2022 International Energy Conference and Expo held at the Marriott.

“Roy’s Quality Spices,” a small company that employs nine persons, is in the process of expanding its factory to cater for the increasing local demand and is also working on expanding to export markets.

“As a provider of food products we would not be directly linked with the oil-and-gas sector, but we would indirectly supply the suppliers who provide the companies with foodstuff, so we would benefit in that aspect,” shared Govinda Singh, Marketing Manager for the company.

Located on the Essequibo Coast, Roy’s Quality Spices is a small manufacturing company that produces ground spices with a product line that includes garam masala, powdered seasonings, turmeric powder, and black pepper, among other products. The business has been in operation for some 25 years now, and aside from serving the local market, it also has a small export market in St Martin.

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The company has already begun working on forming linkages to retailers in the USA and Canada. With the increased international exposure that Guyana will be getting from the oil-and-gas sector, and increased focus for diversified industries, Singh said, the business is looking to ensure it positions itself to grow with the expanding economy, which is what led the business to be part of the Duty-Free Shop.

“We decided to be part of the expo to showcase our products to potential investors and seek persons that would want to purchase our products to sell in their domestic markets. Business has been decent so far, we’ve met with quite a few persons that have shown interest and that’s been good,” Singh told this publication.

At the booth next to Singh’s was Irving Murray, manager of Genuine Naturally Fresh, who shared that his business is also expanding to keep up with Guyana’s growing economy.

“We are looking forward to growing big. Right now we are constructing our agro-processing plant, which would be completed in another three to four months in Stanleytown, New Amsterdam.

We would be able to produce on a larger scale, so that we will be able to get into not only the Guyana economy, but also to export internationally to the Caribbean and other countries,” Murray explained.

Started some three years ago, Genuine Naturally Fresh specialises in producing fresh, organic products including sweetened and unsweetened juices and syrups. The business also has a craft section, where the founder creates decor for homes and offices.

“We currently have about 25 different products that we produced and we have the part that does crafts as well to decorate shops, houses and offices,” the manager said.
For Genuine Naturally Fresh, being at the duty-free exhibition was all about exposure and marketing themselves.