– 768 small businesses received financial support from Govt in 2021
President of the Georgetown Chamber of Commerce and Industry (GCCI), Timothy Tucker on Friday evening stated that for any economy to remain stable in this modern age, there must be a system of small businesses to support that economy, as small businesses are the backbone of any country’s economy.
He was at the time addressing the launch of Guyana’s first-ever “National Small Business Week,” an initiative that seeks to increase the visibility of its micro, small and medium enterprises (MSME) members.
“The importance of small businesses, of micro-businesses, medium businesses, is the scope of any economy is important. Small, medium, and micro-businesses are the backbone, it is what grows any economy, it grows any country. Every single big business you see in this country was once a small business, it had to find its footing somewhere, it had to grow somewhere,” Tucker noted.
As such, Tucker explained that organisations like the GCCI should strive, even harder, to fight for the development and financial support of small businesses in Guyana.
“It is important that we develop and we fight for the development of the things and the support services for small businesses so that we can grow them,” he explained.
However, at the event, Research and Marketing Officer of the Small Business Bureau, Shamane Headley disclosed that almost 1000 micro, small and medium enterprises (MSME) would have received financial support from the Government in 2021.
“In 2021, for the first time since its establishment, the Small Business Bureau disbursed a total of 746 small business grants exceeding our annual target and that was quite an accomplishment. At the end of 2021, a total of 768 small businesses accessed financial support valued $377 million in the form of grants, loans, and sponsorship.”
