A new small business council headed by Managing Director of GeoTechVision Enterprises, Valrie Grant has been appointed to oversee the small business Bureau.
The Small Business Council comprises the CEO-Small Business Bureau, representatives of Ministry of Business, Ministry of Finance, Linden Chamber of Commerce, Berbice Chamber of Commerce, Guyana Small Business Association, Guyana Craft Producer Association, Institute of Private Enterprise Development, Guyana Banker’s Association, along with two Small Business owners.
Chairperson of the Small Business Council, Valarie Grant with members of the council
The council is mandated to implement the provisions of the small business act of 2004, which, according to the Minister of Business and Tourism is comprehensive enough to address the needs of small businesses in Guyana.
With the new council in place, the Small Business Bureau will be strengthened to provide support to small and micro enterprises across Guyana.
The SBB recently signed a Memorandum of Understanding (MoU) with Twelve (12) private training institutions. This MoU allows these institutions to train young entrepreneurs, who have benefited from cash grants and loans through the SBB in managing their own small businesses.
Since the launch of the Micro and Small Enterprise Development (MSED) program in 2013, the bureau has trained more than 1000 young entrepreneurs who had accessed small loans and grants through the SBB. To date, the SBB has given out 193 grants, $300,000 each, and a total of 63 loans with financial partners.