2026 Business Breakfast – Seminar outlines path to access SME development bank financing

The Georgetown Chamber of Commerce and Industry (GCCI) on Friday hosted its 2026 Business Breakfast Seminar at the Guyana Marriott Hotel, focusing on how micro, small and medium-sized enterprises (MSMEs) can position themselves to access financing through the proposed Small and Medium-sized Enterprise (SME) Development Bank of Guyana. According to information shared by the Chamber on social media, the seminar brought together entrepreneurs, business leaders and key stakeholders for a morning of presentations, discussion and networking aimed at strengthening understanding of the bank’s structure and opportunities.
GCCI President Kathy Smith, speaking at the event, said the initiative reflects Government efforts to expand access to capital for small businesses and to support enterprise development across the country. She said MSMEs play a critical role in economic growth and job creation and must be supported through targeted financial instruments. Smith noted that the establishment of the SME Development Bank is intended to address long-standing calls from the private sector for improved access to financing. She stressed that while opportunities are expanding, businesses must ensure they are properly prepared to access available support. According to Smith, bankability and compliance remain key requirements for entrepreneurs seeking financing. She urged business owners to maintain proper records, strengthen governance structures and ensure that their operations meet basic financial standards in order to qualify for loans.
She also encouraged entrepreneurs to take advantage of platforms provided by the GCCI and other institutions to improve their readiness, noting that access to finance depends not only on the availability of funding but also on the preparedness of applicants.

Expanding financial inclusion
Delivering feature remarks, Senior Minister in the Office of the President with Responsibility for Finance Dr Ashni Singh reaffirmed the Government’s commitment to supporting private sector development and expanding financial inclusion. Dr Singh said the administration views the private sector as a key partner in achieving national economic growth objectives, noting that both Government and business share an interest in expanding income generation and wealth creation. He highlighted that the country is experiencing expanding business opportunities across several sectors, including areas that were previously less developed. He pointed to the growing presence of enterprises in sectors such as services, manufacturing and small-scale production as evidence of this shift.
The Finance Minister explained that the SME Development Bank is intended to provide accessible financing to entrepreneurs with viable business ideas. He reiterated that the proposed facility will offer loans of up to GY$3 million on a collateral-free and interest-free basis. He further stated that approximately GY$40 billion is expected to be disbursed through the institution over the next two years, with 50 per cent of the funding already allocated in the 2026 national budget. He added that the enabling legislation is currently before the National Assembly and is expected to be considered at the next sitting. Singh also outlined that the bank will include a structured process for evaluating applications, including the assessment of business proposals and repayment capacity. He said a Board of Directors will oversee key decisions, including the vetting of applications and repayment arrangements.

Starting point
He stressed that access to financing will depend on the quality of business proposals and the viability of projects submitted by applicants. He encouraged entrepreneurs to carefully assess their chosen sectors and ensure that their plans are realistic and sustainable. The SME Development Bank, he noted, is not intended to be the final stage of business financing, but rather a starting point for small enterprises to establish themselves and grow. He said the goal is for successful borrowers to transition into the formal financial system and eventually access larger loans from commercial banks. He further emphasised the importance of financial inclusion, noting that broader participation in the banking system is essential for long-term economic development. He referenced the importance of individuals building relationships with financial institutions, maintaining savings and using assets such as land to support future borrowing. The seminar also featured a panel discussion with representatives from various business support and development organisations. Panelists included the Founder of Guyana Payroll Solutions Inc, Marlon George; Programme Lead at the Centre for Local Business Development, Ron Glasgow; Deputy Chief Executive Officer (DCEO) at the Small Business Bureau (SBB), Simon Pollard; Managing Director of Opulent Consultancy Inc, Shaleeza Shaw; and Senior Vice President (VP) of the GCCI, Gavin Ramsoondar.
Panellists provided guidance on developing viable business proposals, strengthening business operations, and navigating access to financing opportunities. The session also included a question-and-answer segment where members of the business community engaged speakers on issues related to business development and financing readiness.