–Gov’t outlines new local content reforms, US$200M SME fund, & training initiatives
–Over 23,000 start-up grants, $1.2B in loans, & US$62M in training delivered

SMALL and medium-sized enterprises (SMEs) once again took centre stage at this year’s National Small Business Week Seminar and Expo. In an address delivered by Communications Manager Cordell McClure on behalf of Minister of Tourism, Industry and Commerce Oneidge Walrond, emphasis was placed on the government’s substantial investments in the business sector, the impactful policies that have fostered SME development, and the next steps planned to ensure continued and sustainable growth.

At the Arthur Chung Conference Centre on Saturday, McClure acknowledged that the ministry is well aware of the challenges faced by small businesses and entrepreneurs in areas such as accessing funding, gaining exposure, and obtaining financial advice. He outlined several significant initiatives spearheaded by the ministry to further bolster SMEs, with the most recent being policy reform.
Emphasising that the new local content policies being reviewed and amended are focused on empowerment rather than protectionism, McClure stated, “As part of our broader vision for business development, we are now working to amend the local content laws, expanding its reach so that even more Guyanese companies across a wider range of sectors can participate in opportunities that may once have seemed beyond their capacity.”
He further explained that the newly drafted policies will seek to build capacity and competitiveness among SMEs. Describing the amended policies as a “gateway to opportunity,” McClure noted the significant investments already made in the sector by the government.

“You may recall that the Senior Minister within the Ministry of Finance, Dr. Ashni Singh, during the 2025 budget presentation, highlighted a remarkable achievement. In 2024 alone, US$612 million was spent in the 40 service areas reserved for Guyanese companies under the local content provisions,” he said.
As part of efforts to continue what McClure described as “real, measurable, and transformative impact,” the government is also working to improve access to capital for small businesses, a major hurdle many entrepreneurs face in Guyana’s growing business sector.
“Another one of our policy approaches is access to capital for SMEs that can access credit and financial services. You would have heard of the 181 loan agreements and 31 loans to persons with disabilities, with a combined value exceeding $1.2 billion,” he said.
Work in this area is already underway. McClure noted that over the past five years, approximately 4,000 small business grants, valued at $1 billion, have been disbursed.
“These numbers are significant, but what makes them truly impactful is our commitment to ensuring that recipients have the tools and skills to make their businesses thrive. Twenty-three thousand start-up grants have been disbursed, and 20% of the government’s procurement now supports SMEs.”
McClure also spoke about the Local Content Facilitation Fund, a venture in collaboration with Afreximbank, designed to increase cash flows for local SMEs and support local investment initiatives. He added that the government’s vision for the microeconomic sector extends beyond national borders, aiming to link SMEs to broader development goals.
“Another key feature of the government’s vision is the integration of SMEs with larger objectives like poverty reduction, agri-entrepreneurship, and sustainable national development,” he said.
As part of these plans, President Irfaan Ali has announced the establishment of a US$200 million fund to provide easy access to capital and financial services for SMEs through a simplified one-card computerised system. This system will offer low-interest loans and broaden financial inclusion. SMEs will also be supported through the creation of a development bank, investment grants, and the expansion of social safety nets.
Another overarching theme of the government’s vision is training and capacity building for entrepreneurs.
“Over the last five years, nearly 13,000 small business owners have benefited from training in areas such as small business management, financial management, record-keeping, marketing fundamentals, and business proposal writing. These training sessions were delivered at a cost of approximately US$62 million,” McClure shared.
In closing, McClure conveyed the minister’s sentiment that the future of SMEs in Guyana is full of promise, with the potential for greater impact than ever before as the economy grows and markets expand.
“Our vision for SMEs is a long-term national strategy that aims to move small businesses from survival mode to global competitiveness. We see SMEs as central to Guyana’s economic transformation. This means embedding their participation into every major development program; from infrastructure to agriculture to energy.”
The National Small Business Week also saw industry leaders engaging in impactful discussions on Guyana’s economy, the role each business plays, and the opportunities available in the business sector. The event concluded with the NSBW Expo, where dozens of small and medium-sized businesses showcased their products and services while gaining valuable insights from industry leaders, business experts, and fellow entrepreneurs.