SBB working with technical institutions to push youth entrepreneurship – CEO

Recognising the many benefits accessible through developing and running a successful enterprise, the Small Business Bureau (SBB) over the years ramped up its engagement with citizens across Guyana, particularly the youths who are actively involved in Technical and Vocational Education and Training (TVET).
This was highlighted by the Chief Executive Officer (CEO) of SBB, Mohamed Shazim Ibrahim during an interview with the Guyana Times on Monday. He reaffirmed the organisation’s commitment towards providing the necessary knowledge among other resources that will encourage persons to venture into the field of entrepreneurship.
“We understand that we have this mandate of promoting entrepreneurship and developing businesses of becoming independent of having a career. Instead of having a specific career, you can get into business” The CEO asserted.
In this regard, recognising the important role youths play in the country’s development, Ibrahim explained that the Bureau over the years has included youths in its sensitisation agenda.
“Well, the youths are the people of tomorrow. Well, actually they are the people of today. That’s why we focus a lot on this programme (Green-Technology-Fund), as well we have the Youth Entrepreneurship Programme where we bring awareness of entrepreneurship to young people in high schools. And once they come up with a simple business plan of how to develop a business and start a business, we give them a small grant, a small amount of cash to get that programme going” Ibrahim stated.
Moreover, the CEO highlighted that the Bureau through several programmes has been working with technical institutes across the country to foster business innovation. He explained that this strategic move was made due to the specialised training learners receive at these institutions.
“So, we went through the TVET programme. I met with all the heads of these institutes so we gave them the general idea of the Green Tech Programme because these are young people who are getting specialised knowledge and developing ideas in which they can start businesses very soon and they would have these groundbreaking solutions coming up” He stated.
This year the organisation has had several engagements with technical institutes across Guyana. This was done as part of efforts to encourage persons to be a part of the Green Technology Fund. The bureau’s push to fund green technology projects comes as Guyana is making strides in diversifying away from the use of fossil fuels and gravitating towards the use of more green technology. Through this initiative, persons can access up to $1 million in financing for their business.
This year some 12 small businesses will be receiving a total of $1 million through the Green Technology Fund initiative. In 2023, SBB in collaboration with the Education Ministry launched the Youth Entrepreneurship Programme at secondary schools nationwide. It is aimed at helping students to develop an entrepreneurial attitude and to get them to effectively participate in the business world.
The students are being guided on how to create business plans and most importantly, will have the opportunity to receive assistance from the SBB to start up their businesses. A total of $1.5 million was budgeted by the SBB to help initiate these business projects.