AS the nation enters 2026, President of the Georgetown Chamber of Commerce and Industry (GCCI), Kathy Smith, says the focus now is on ensuring Guyanese businesses are prepared to grow alongside the economy, with stronger engagement from the chamber and a renewed emphasis on financial literacy, one of the biggest challenges facing small and medium-sized enterprises (SMEs).
SMEs account for some 70 per cent of GCCI’s membership and Smith says the goal is to sustain and build on that growth.
In a recent interview with the Guyana Chronicle, Smith said she and her team will be taking a more hands-on approach to interacting with and educating entrepreneurs, so they can grow alongside an economy she says is moving rapidly.
“Guyana is moving fast and they need to ensure that their business is ready for it. I want Guyana’s businesses to be very robust so that we can compete with businesses within the Caribbean and internationally. The strong desire for me is to ensure that micro, small, medium-sized businesses get in the space, stay in that space and build so that they can sustain themselves,” She explained.
While the GCCI continues to see a growing number of members, Smith highlighted that continued support is just as critical. To assess and address this, she said she will be taking a more personal approach, with walkthroughs and direct engagement with entrepreneurs planned for the year ahead.
“I have decided that I want to hear from my members. I have started my walkthrough, and I will continue that in 2026 to go to my businesses to ask them, ‘What can we do for you?’” she said.
She added that the GCCI’s current focus is on micro, small and medium-sized enterprises, with participation from a number of international players. The oil and gas sector, for example, Smith says, presents significant opportunities.
“The oil and gas company is now looking at small caterers, small janitorial companies, small logistics companies and pest control companies. These are all opportunities where small businesses can get into. We want to ensure that when they turn, they are ready. I want to support them to ensure that they are structurally fitting in place and that they can take those opportunities,” she pointed out.
Smith also noted that small businesses in Guyana do not fail due to a lack of hard work, but rather because of management challenges.
“Small businesses do not fail because they are not working hard. Small business owners are one of the hardest-working people in Guyana. A lot of small business owners are not managing their finances. They are fearful of pricing at the right cost because they think clients might not come back, so they are under-pricing. Some of them just do not have an idea of what the expenses look like. The revenue will come and they sometimes treat that revenue as profit,” she warned.
As a result, management and financial discipline will be a major focus for 2026, Smith said, and added that “In 2026, we want to ensure that our message is simple to them. Know your numbers. Protect your cash flow. Price properly. Stop under-pricing yourself. Build your system that can handle the good that Guyana is going through.”
She also stressed that there are simple steps every entrepreneur should take, regardless of the size of their business.
“We want them to do simple, simple things, to do monthly budgets. Look at your sales target, look at your fixed costs, look at your variable costs. They can even create a weekly cash flow check,” Smith said.
Speaking directly to Guyanese entrepreneurs, Smith emphasised the importance of organisation and engagement with support bodies such as the GCCI.
As such, she urged businessowners to take advantage of the expanding opportunities and markets available to them, noting that these spaces help create access and open doors beyond their immediate networks.
“Once a small business finds us, one of the benefits they realise is that they have found a huge fishing pond of close to a thousand businesses that they can now sell to. We are also ensuring that they benefit from all our partnerships and collaborations with organisations like the banks, the government, and other private institutions,” she added.
Whether operating in the private or public sector, Smith said organisations like the GCCI are critical in connecting small businesses to the tools, knowledge and resources needed for sustainable growth.
“In these organisations, you can find your peers. And when you find your peers, your business is walking into success. You cannot do it by yourself. The chambers are not profit entities. They are non-profit organisations. Everything we do is to ensure that businesses thrive in this country and that even if they cannot go into the room, we are going to go into the room for them,” she said.