-expanded financing through IPED empowering more women, youth, creatives

ALONGSIDE international investment and new sectors, Small and Medium-sized Enterprises (SMEs) are drivers of Guyana’s economic development. This fact has been highlighted across sectors and among a number of demographics. With increased lending, improved access to financing and stronger policies, SMEs are thriving more than ever.

 

Speaking on this rapid development, Business Development and Marketing Manager at the Institute of Private Enterprise Development (IPED), Robert Williams, said this shift has been happening across the board.

 

In an interview with this publication, Williams shared insight into the shift in lending in recent years, and what it reflects at a national level.

 

According to IPED’s 2025 annual report, the agency issued almost 5,000 loans in 2025. This, Williams said, is a reflection of the growth of the economy at large. “When you look at the national data, there has been a significant increase in the number of businesses that have been registered. We have definitely seen increases in demand for products and services.”

 

He added that this is driving demand across the financial sector, particularly in access to financing. “We have seen an uptake in terms of requests for business loans. We have seen an uptake for services; we have seen creative and new ideas coming to the fore.”

 

 

In the face of new ventures and ideas, access to financing has also been bolstered, Williams said.

 

Highlighting the impact of policy in this shift, he cited the introduction of government policies and the launch of the development bank.

 

While these moves have increased competition, they have also diversified the landscape and go together with the work of agencies like IPED.

 

“The government is launching its development bank. Whilst that creates competition, it is also good because what that brings is a supporting agency that is in many ways congruent to IPED. So, there is greater access to finance,” he said.

 

FINANCIAL LITERARCY, BUILDING GENERATIONAL WEALTH

 

While access has improved, financial literacy still remains a hurdle within the lending sector,

 

Williams added. “Many times, though, there is the clamor that access is the problem. But the whole issue of financial literacy and building capacity, from my experience, I’ve seen that as being the hindrance. Because too often people just want to walk in and walk out. They got the idea but then they cannot express it. They have no records. And some people want to run from GRA.”

 

He said that while there may be some hurdles to accessing financing, Guyana’s economy is creating greater opportunities for people.

 

 

One of the factors strengthening the small business landscape has been diversity across demographics.

 

In its annual report for last year, IPED stated that some 1,745 women received loans. This, Williams shared, represents the closing gap between men and women entrepreneurs.

 

“In IPED’s case, it has always been almost a balance in lending for men and women. But we have seen more women becoming entrepreneurs, growing their businesses, looking for opportunities. We partner with all the agencies that drive and support women-led businesses because women play a key role in any society. Them having equal access and opportunities leads to development,” he said.

 

Further, he said “Women are some of the best payers that we have. They are a lot more prudent sometimes in terms of repaying their loans.”

 

Young entrepreneurs have also been showing interest, according to Williams.

 

Speaking on recent initiatives to support young people, he noted that IPED has taken steps to assist new entrepreneurs, even those without a business background or experience. This area has grown in recent years, with more training opportunities and expanding industries encouraging young people to start businesses.

 

Citing the launch of IPED’s skills-based entrepreneurship project, Williams said, “We have found that we have all these young people coming out of technical institutions with certificates and skills. So, we have designed that project to promote entrepreneurship. We want to move a percentage of them into becoming entrepreneurs because they have the skill.” Launched last year, the project already has 35 skills-based ventures with no collateral required.

 

With the Government of Guyana working to support and build the orange economy, IPED has also seen the impact through emerging creative ventures. Following the launch of the organisation’s creative loan several years ago, recent times have seen more creatives and artists establishing businesses.

 

Areas such as visual arts, writing, music and filmmaking have seen a surge in new enterprises. “We have always been the institution that will take the risk in those areas. Years ago, we launched the creative loan, and we continue to see more creatives join the business sector,” Williams said.

 

The main challenge within the creative sector, he noted, is blending artistic talent with business and financial knowledge, an area IPED hopes to continue developing. “What we found is that creatives have the artistic skill, but we have to marry that with understanding the financial aspect. If you want to produce a song, write a book, do art, come and talk to us. So, we are encouraging people to support them. How can we develop this ecosystem collectively where we harness these talents and create the industry.”

 

As the small business sector continues to grow and diversify, Williams said he would like to see policies that foster greater collaboration.

 

While there are many agencies focused on training, he noted the need for policies that transition individuals from training into entrepreneurship. “I would like to see a policy that doesn’t just train but moves people from training into entrepreneurship.”

 

While IPED works with entrepreneurs to ensure the sustainability of their businesses through continued support, policies dedicated to fostering long-term SME sustainability would be significantly impactful.

 

Williams said. “We are measuring how many people are trained, but what happens after that? The success should be whether these people have transitioned into entrepreneurs and leaders. We need an ecosystem that does not just stop at training but continues to help people move forward.”

 

As the organisation continues its 40-year track record, the focus will be on adapting to Guyana’s growing economy. Beyond business development and financing, the aim will be to work with Guyanese to generate wealth. “We have already pivoted to the changing economy. It’s not just about business development and financing anymore; people will now generate wealth. The question now is how we move the entrepreneur to understand how to invest this wealth,” he said.

 

This, he added, requires a legal framework to support products such as venture capital and equity financing. “We see ourselves transitioning into equity financing, venture capital, and developing a micro stock exchange, so people can invest, buy shares, and build generational wealth.”

 

As transformation continues, Williams said Guyana’s economy is on an upward trajectory, sharing, “Every Guyanese has got to look for an opportunity and work for that opportunity. The sky is the limit for the Guyanese economy.”