Resource centres to be established in Regions 6, 9 – senior business advisor

The Small Business Bureau (SBB) in an effort to ensure all Guyanese business owners have access to materials provided by the bureau have revealed plans of establishing resource centres in Regions Six (East Berbice-Corentyne) and Nine (Upper Takutu-Upper Essequibo).
These extension plans were revealed by Senior Business Advisor at the Small Business Bureau (SBB), Brian Johnson on Tuesday. He noted that most persons who wish to start a business do not have access to the necessary information needed to successfully grow their enterprise.
On this point, he noted, that the Small Business Bureau developed their resource center however recently new materials have been added to help foster small business owners.
“The resource center is something that we have had before, be we are try to well, we have added some more stuff to it and its to help all of our guys who have small businesses you could even register with us to access to that little area there,” he stated.

The resource centre will give clients access to mentorship and coaching by the business advisors’ persons will also have access to reading materials, computers, internet, and printing services all free of cost.
Currently Georgetown is the only area that has a resource centre, when asked about expansion plans Johnson highlighted that the Small Business Bureau (SBB) is currently working towards establishing two similar centers outside of the region.
“The resource centre is only in Georgetown however later on we have plans to have it later on in our incubator centre at Lethem and also in Belvedere Berbice” he stated.
Additionally, under the Small Business Bureau (SBB) persons can have access to the Loan Guarantee Programme through the Guyana Bank for Trade and Industry Limited (GBTI) or Republic Bank. This programme allows small business owners to have access to funds ranging from $500,000 to $30 Million whilst offering low interest rates of 6 per cent per annum.
Moreover, the Small Business Bureau also offers partial collateral coverage for persons who would like access to financing. First time borrowers will receive a total of 40 per cent collateral coverage whilst repeat borrowers can have access to up to 70 per cent collateral coverage.
Additionally, the Small Business Bureau in collaboration with the Ministry of Human Services is currently providing business owners living with disabilities interest and collateral free loans for up to $500,000.