As the Guyana Development Bank (GDB) prepares to become operational, Guyanese entrepreneurs can start sharpening their skills in business planning through several private sector organisations, and in some cases, free of charge. This was revealed by Chairman of the Private Sector Commission (PSC), Captain Gerald Gouveia Jr. during the August 9 episode of the Starting Point podcast.
Gouveia said private sector organisations are developing support desks and entrepreneurship programmes to help businesses strengthen their operations and prepare to approach financial institutions like the GDB. The organisations providing such assistance include the Georgetown Chamber of Commerce and Industry, the Guyana Manufacturing and Services Association and the Berbice Chamber of Commerce and Development Association.
“We will sit with our experts in the private sector that will work with these entrepreneurs to get them up to scratch,” Gouveia said.
He noted that the support covers areas such as business planning, financial planning and supply chain management. The intention is to develop businesses that can approach not only the GDB, but also other commercial banks and international financial institutions for financing.
“What we want to see are all of these small businesses become medium and medium become large so we can have the next Google, the next Apple,” Gouveia highlighted.
“The next startup that is going to become a multi-billion dollar company is going to start with one of these companies getting the loan, working with the private sector mentorship, and eventually becoming a global brand,” he said.
The Guyana Development Bank Bill was made law after being assented to by President Irfaan Ali in July. It comes after years of calls by the private sector for greater access to finance for Guyanese businesses.