To enable sustained growth and uniform diversification of MSE’s within local sectors with a view to creating positive, measurable impacts through; expert guidance, effectively channeled resources, comprehensive networking and provision of a supporting environment for maximized performance.
In order to achieve its mission the Bureau will enable the development of the Micro and Small Business sectors to their optimum through cultivation of entrepreneurship, fostering business cooperation, and solidifying the value chain for maximum contribution to the mainstream economy.
THE SMALL BUSINESS BUREAU
The Small Business Bureau, is a semi-autonomous agency established under the Ministry of Business, based on the Small Business Act of 2004. The Small Business Bureau office was established in 2010, and became operational in 2013 with funding from the Guyana REDD+ Investment Fund (GRIF), for the ‘Micro and Small Enterprise Development (MSED Programme). The MSED Programme was implemented from 2013 to 2018, and facilitated access to finance and business development services for small businesses.
According to the Small Business Act 2004, the role of the Small Business Bureau, is to:
§ Develop and implement programmes to foster small business development and growth, inclusive of access to finance.
§ Review and promote Government policies which address issues affecting small businesses.
§ Monitor and review access by ‘approved’ small businesses to 20 percent of Government procurement opportunities for goods and services.
§ Be the source of information on the small business sector.
Under the Small Business Act 2004, the Small Business Bureau is managed by a Small Business Council, appointed by the President of the Cooperative Republic of Guyana.
§ A Chairperson, recommended by the Minister responsible for small business.
§ A representative of the Ministry responsible for small business.
§ A representative of the Ministry responsible for Finance.
§ Four (4) persons being members of legally constituted and functioning bodies or organizations recognized as representing small businesses in Guyana.
§ One representative of a financial institution, other than a company licensed to carry on banking business under the Financial Institutions Act 1995, designed by the Minister as a financial institution providing significant financial assistance to small businesses.
§ One (1) person nominated from the organization representing bankers.
§ Two (2) other persons from other business disciplines of specific geographic areas.
The Chief Executive Officer of the Small Business Bureau, serves as secretary to the SBC and does not have voting rights.
According to the Small Business Act 2004, “small business” means any person or
persons, including a body corporate or un-incorporate, carrying on business in
Guyana for gain or profit and satisfying all three of the following
not more than twenty-five persons.
§ Has gross
annual revenues of not more than GYD60M.
§ Has total
business assets of not more than GYD20M.
§ Persons seeking to start-up or expand a small business.
§ Children and youth interested in developing and starting a small business.
§ Persons seeking to start or expand environmentally sustainable, innovative businesses.
Green Business Technology Fund, Kidpreneur, In-School Entrepreneurship Programme, Entrepreneurship Skills Training Programme, and 20% Governement Procurement Programme.
Small Business Development Grants, Small Business Development Loans, Business Incubator Centres, Entrepreneurship Awareness Sessions, Business Development Support, and Help Desk.
§ The Guyana REDD+ Investment Fund (GRIF) funded Micro and Small Enterprise
Development (MSED) Project – 3,738 potential and small business owners trained;
591 grants and 224 loans at a total value of GYD760M disbursed to small
§ Awarded 34 Green Business Technology Grants valued at GYD 1M each, to facilitate
development of environmentally sustainable businesses. This count ends at 2020.
§ 684 business owners benefit from specialized training in Sustaining Mining, Sustainable
Forestry, Soap Manufacturing and Cosmetology.
§ Established Help Desk facilities in eight (8) administrative regions of Guyana.
§ 125 secondary school students from Guyana’s 10 administrative Regions, develop 60
small businesses under In-School Entrepreneurship Programme.
§ 81 businesses developed or expanded by at-risk youth under the Citizen Security
§ Business Incubator Centre established at Belvedere, Corentyne Berbice, Region 6.
Senior Management Team
Deputy Chief Executive Officer
Senior Business Advisor
Research and Marketing Officer
Executive Assistant/ HR
Client Services Manager
Monitoring and Evaluation Officer