– GCCI President urges small-business owners

PRESIDENT of the Georgetown Chamber of Commerce and Industry (GCCI), Kathy Smith, is urging local businesses to take advantage of what she has described as an unprecedented period of growth, emphasising that too many enterprises are missing out on opportunities because they fail to meet basic compliance and structural requirements.

Smith, speaking at the opening of GuyExpo 2025 last Thursday, cautioned that the era of complaining about a lack of opportunity has long passed.

“No longer can we complain that there aren’t any opportunities. What I want you to do is to work on your compliances. We are seeing a lot of businesses that want opportunities, but they cannot be traced,” she told exhibitors and attendees.

She added that proper business structuring remains one of the most significant weaknesses among small enterprises.

“Create business structure. Too many of you are involved in businesses and we cannot even find you on a phone number or a Facebook page. And please, I beg you, small business owners, put that money in a business account, not a personal account,” Smith said.

She stressed that this period represents “a time of unprecedented growth and opportunity… where opportunities are ripe for the picking, where entrepreneurship is thriving.”

Smith noted that the private sector continues to benefit considerably from the government’s development thrust.

“The private sector continues to benefit from the government’s development policies and strategic investment, whether it is a small contractor who has access to contracts or a budding entrepreneur who’s benefitting from business-development training and grants.”

She acknowledged that these interventions have fuelled business expansion across the country, stating: “This government has been a catalyst for opportunities and the success of entrepreneurship, and that deserves acknowledgement.”

The GCCI President also highlighted the organisation’s ongoing collaborations with key ministries to strengthen local enterprises.

“We are working with the Minister of Agriculture to train farmers and women-led businesses in targeted areas geared towards supporting their businesses towards sustainable operations and success, which will be facilitated in our newly commissioned Micro and Women Entrepreneur Learning Centre,” she said.

Further, the chamber has engaged the Ministry of Tourism, Industry and Commerce to ensure micro and small businesses access the tools needed for competitiveness.

Additionally, the chamber has launched its Skills connect application, which allows small businesses to access training, jobs and other opportunities.

Meanwhile, President of the Guyana Manufacturing & Services Association (GMSA), Rafeek Khan, also welcomed the supportive environment emerging for local manufacturers, especially those outside the traditional sectors.

“We are very much appreciative, especially for the non-oil sector at the GMSA where we’re trying to build out the traditional sectors. We have recently heard that lending institutions are giving loans for immovable assets,” he noted.

Khan explained that many smaller businesses were previously unable to secure financing because they lacked land or buildings to use as collateral, but now they are able obtain loans, accessing capital that was once out of reach.