IPED records over $64B in loans to local entrepreneurs

…“We nurture businesses from the ground up” – CEO

The Institute of Private Enterprise Development (IPED) has disbursed more than 147,000 loans totalling over $64 billion over the past 40 years as it officially kicked off its 40th anniversary exhibition.
The expo is one of several activities being hosted by IPED as it celebrates its 40th anniversary this year under the theme “40 Years of Strengthening Enterprises, Transforming Lives, and Supporting National Development”.
Founded in 1985, the Institute of Private Enterprise Development (IPED) aims to support micro and small enterprises through finance, capacity building, and advisory services.
At the exhibition, some 25 businesses that have received direct support from IPED are showcasing their products and services. The exhibition runs for two days, from March 19 to 20, on Main Street, Georgetown.
During the exhibition launch, Chief Executive Officer (CEO) of IPED, Jagdesh Haripershad, highlighted the significant investments made by IPED over the years, underscoring its impact on enterprise development in Guyana.
“So, over the 40 years, we have disbursed over 147,000 loans for a total value of approximately $64 billion. We have succeeded with several governments during these 40; when we first started, IPED began providing opportunities for small businesses and unemployed people, as the unemployment rate was very high. Entrepreneurship offered an avenue for them to earn income for their families and also create employment within society and the community, helping those families become sustainable.”
In terms of challenges, he explained that working with persons from riverine communities presents unique difficulties.

“Some of the challenges are that we work with very small, informal, riverine and rural communities across Guyana. Most of these people have a business idea and a market, but sometimes they lack the knowledge and the structure to succeed. IPED now works with them from the ground up, like nurturing a baby.”
“The risk is high when we start working with these businesses, [but despite these challenges] we provide a system, finance, training, access to marketing, and assistance with content and other challenges so they become bankable. We then transition them from micro-businesses to small businesses, helping them formalise and grow sustainably.”
Reflecting on the organisation’s origins, Haripershad highlighted that IPED remains committed to supporting micro-businesses, guiding them from their early stages to becoming more independent and sustainable.
The CEO also revealed that IPED is embracing digital solutions to better serve its clients. He explained that the organisation aims to ensure its clients are not left behind and can benefit from the new economy and opportunities for generational wealth. Highlighting IPED’s evolving focus, he noted that the institute remains transformative and innovative, recently launching a fully digitised software called ‘Mimix’ from the United States to enhance efficiency and agility.
Meanwhile, Lorena Solórzano Salazar, who was also present at the anniversary celebration, emphasised the importance of supporting the growth of small businesses in Guyana.
“It is crucial to keep developing micro and small enterprises, as they play a key role in the economy, especially in a growing one. There are numerous opportunities for growth, and it’s not just about the business itself – it’s about the families and communities they impact. When a business grows, it provides jobs, and those employees have families whose lives are improved as a result.”
She also noted that running a business is not without its challenges, with access to finance being one of the key obstacles. While funding may seem available, many entrepreneurs struggle with maintaining proper records, effective strategies, and well-prepared proposals to present to financial institutions.
She highlighted the role of organisations like IPED, which work closely with communities, providing day-to-day support to help businesses grow and improve their access to financing.