— minister says mentorship, business data and experience will help entrepreneurs make better use of financing

THE Small Business Bureau (SBB) is prepared to support the newly established Guyana Development Bank (GDB) by providing mentors, business-development expertise and information gathered from years of working with local entrepreneurs.
Minister of Tourism, Industry and Commerce Susan Rodrigues said the collaboration could help ensure that small-business owners receive not only financial assistance, but also the guidance needed to build sustainable operations.
Speaking during an appearance on the Starting Point podcast, Rodrigues emphasised that mentorship would be a critical component of the bank’s success.
“The more important feature of the bank is the mentorship aspect and through the SBB and through my ministry, we are looking forward to supporting the Guyana Development Bank in this regard because there are a lot of lessons learned through the Small Business Bureau over the decades on how to do this, on how to work with our small-business owners and we know many of them already,” she said.
The minister explained that the SBB has accumulated valuable information on small businesses across Guyana, including their locations, performance and ability to remain operational.
This information, she noted, could help the development bank better understand the entrepreneurs it intends to support and identify where additional assistance may be required.
“A simple check of our database would tell you a lot about these small businesses and where they are located and how successful they have been doing, how resilient their operations are and we have a number of mentors that we can deploy and support the bank as well,” Rodrigues said.
SUPPORTING BUSINESS SURVIVAL
Over the past six years, approximately 6,511 small and medium-sized enterprises (SMEs) have registered with the SBB, reflecting the bureau’s role in supporting entrepreneurship and business development.
The bureau provides grants, business-development assistance and access to a loan-guarantee programme, while also monitoring the progress of businesses that receive support.
Speaking at a Guyana Manufacturing and Services Association (GMSA) business luncheon earlier this week, Rodrigues emphasised that the government’s objective is not simply to increase the number of registered businesses, but to help those enterprises remain operational and grow.
She disclosed that the SBB conducted 7,801 visits to small businesses over the past five years, with 75 per cent of the businesses visited remaining in operation.
These monitoring exercises allow the bureau to assess business performance, identify challenges and determine where further assistance may be necessary.
Rodrigues has also encouraged entrepreneurs to improve their record-keeping, financial management and business planning, particularly as they prepare to access financing and enter new markets.
Such practices, she noted, are essential for businesses seeking to demonstrate their financial stability and capacity for expansion.
EXPANDING ACCESS TO SUPPORT
In addition to its grant and mentorship programmes, the SBB conducts community business clinics that bring several government agencies and organisations together to assist entrepreneurs.
These clinics provide guidance on taxation, social security, company registration and other requirements involved in establishing and operating a business.
The bureau also operates a loan-guarantee programme for entrepreneurs who may not have sufficient collateral to access financing from commercial institutions.
Under this arrangement, the SBB can guarantee between 40 and 70 per cent of the collateral required for loans of up to $30 million.
The Guyana Development Bank, which commenced operations on October 5, 2026, provides another financing option through interest-free loans that do not require collateral.
Its lending platform offers two categories of financing: quick loans below $300,000 and SME loans ranging from $300,000 to $3 million.
Quick loans have a simplified application process with reduced documentation, while larger SME loans require additional supporting information.
Approved funds are disbursed directly into borrowers’ bank accounts, with repayments also facilitated through the banking system.
BUILDING FINANCIAL DISCIPLINE
Rodrigues has highlighted the importance of helping entrepreneurs develop the financial discipline required to manage loans and sustain their operations.
Although the development bank offers interest-free financing, borrowers are still required to repay the funds.
The minister explained that this responsibility could encourage better financial management, proper record-keeping and greater accountability among business owners.
She also noted that successfully managing and repaying loans could help entrepreneurs establish a borrowing history and better prepare them to seek larger amounts of financing from commercial banks.
The proposed collaboration between the SBB and the development bank would therefore combine access to affordable financing with practical business guidance.
By drawing on the bureau’s experience, database and network of mentors, the initiative could help entrepreneurs identify challenges, strengthen their operations and develop plans for sustainable growth.
For small-business owners, Rodrigues’ commitment signals an opportunity to benefit from both financial support and the expertise needed to turn business ideas into viable, long-term enterprises.