Small business owners in Region Four were the beneficiaries of small business grants distributed by the Small Business Bureau on Tuesday, demonstrating the government’s dedication to fostering small business development in Guyana.
Minister of Tourism Industry and Commerce, Oneidge Walrond, addressed the recipients at the Arthur Chung Conference Centre during the handing-over ceremony. Minister Walrond highlighted that the distribution included approved applicants from 2023, totaling 398 businesses. Similar grant distributions are slated for other regions shortly.
Minister Walrond emphasized the government’s unwavering commitment to supporting small business owners in her remarks, citing a manifesto promise made during the 2020 campaign. The minister stressed the priority placed on the small business sector, underscoring its pivotal role in driving economic prosperity.
Minister Walrond noted that upon assuming office in 2020, the government promptly increased the maximum grant amount from $200,000 to $500,000. She shared statistics indicating significant progress, with almost 1,500 small business grants distributed in 2022 alone, and close to 2,000 in 2020 and 2021. In contrast, the previous administration disbursed only 900 grants from 2015 to 2020.
Looking ahead, Minister Walrond revealed plans to allocate additional funds to the business development fund for small business owners in the upcoming budget. She urged unregistered businesses to sign up with the Small Business Bureau, assuring continuous support through training, loan opportunities, and a loan guarantee program.
Several grant recipients expressed their gratitude during the ceremony. Poultry farmer Charles Pickett, stationery and livestock business owner Joel Da Silva, grocer Shellon Khandi, and entrepreneur Hematie Dookie all shared their appreciation for the government’s support, emphasizing the positive impact on their businesses and expressing thanks for the initiative.
