19/06/2026
๐๐ฎ๐ฌ๐ข๐ง๐๐ฌ๐ฌ ๐๐ซ๐๐๐ค๐๐๐ฌ๐ญ ๐๐๐ฆ๐ข๐ง๐๐ซ ๐ฉ๐ซ๐จ๐ฏ๐ข๐๐๐ฌ ๐๐ซ๐ฎ๐๐ข๐๐ฅ ๐๐ง๐ ๐๐๐ง๐๐ข๐ ๐ข๐ง๐๐จ๐ซ๐ฆ๐๐ญ๐ข๐จ๐ง ๐จ๐ง ๐๐๐ ๐๐๐ฏ๐๐ฅ๐จ๐ฉ๐ฆ๐๐ง๐ญ ๐๐๐ง๐ค
It was a morning of invigorating discussion, invaluable information-sharing, and networking as the Georgetown Chamber of Commerce and Industry hosted its 2026 Business Breakfast Seminar today, June 19, at the Guyana Marriott Hotel.
In a packed conference hall, entrepreneurs gathered to learn how they could tap into the loans that will be offered by the bank, and how the institution will function. In commending the government for this initiative, President of the GCCI, Mrs. Kathy Smith noted that the event was geared towards ensuring that Micro, Small, and Medium-sized businesses are able to grow and evolve through access to the resources that will be offered by the bank.
โโWe are serious about our entrepreneurial goals and the advancement of our business landscapeโฆ.Ladies and Gentlemen, when you invest in the advancement of Micro, Small and Medium-sized Enterprises, you invest in the upliftment of people and communities, you become a catalyst for the creation of generational wealth and economic development. And this is exactly what the government has done with the creation of this bank,โ she stated.
With opportunities for businesses emerging from a wide range of sectors amidst the countryโs transformational growth, Mrs. Smith underscored that the bank is evidence of the government listening to the private sectorโs advocacy for support. โWith the establishment of this institution, the government has answered our collective calls, but we must now ensure that we do our part to prepareโฆFor the entrepreneur that is looking to expand their operations, the baker that wants to turn a sweet hobby into a sweeter source of income, the online store that wants a brick and mortar establishment, the janitor that wants to establish a property maintenance business, and the brilliant mind with an idea that can change your lifeโtoday can be the day that you will look back on in a few years and say, that is the moment that my life changed,โ she said.
However, she noted that bankability and legitimacy are crucial factors in businesses being able to access financing, and encouraged those present to ensure that they are up to date with their records and compliance, saying, โThe GCCI will continue to provide platforms for your upliftment and open the doors for you, but you must take the necessary actions to enter the room.โ
In delivering the feature remarks, Senior Minister in the Office of the President with Responsibility for Finance, Hon. Dr. Ashni Singh iterated the governmentโs commitment to the development of the local business landscape.
โWe want to see you do well because we believe that a growing private sector that seeks out, finds and converts business opportunities into incomeโฆ incomes earned and wealth accumulated, can only redound to a a more prosperous and more successful country and a happier population, and in that regard, our economic objectives are very much the same,โ he posited, adding, โSo you have in us a committed partner.โ
Minister Singh recognised that entrepreneurs today are operating in an era of โalmost boundless opportunities in literally every single sector of the economy, and what this has done is it has created business opportunities in perhaps areas that we would not have even thought of,โ as he pointed to areas such as cosmetology and catering that have grown exponentially.
As he described the zero-interest, collateral-free provisions of the bank, he highlighted the requirements that the bank will feature such as bankability and viable project proposals, and noted that there are many sectors that have immense demands, but entrepreneurs must determine what areas they best serve.
He noted that over the next two years, GY$40 billion will be made available through the bankโ50 percent of which has been catered for in the 2026 budget. The legislation for the Development Bank, he said, is already before Parliament and will be considered in the next sitting. โThis Development Bank will provide a maximum of $3 million free of collateral and free of interest. The minister explained that there will be a Board of Directors that will determine repayment period and the vetting of applications.
However, the Minister underscored, too, that this bank should not be seen as the final financing destination but the first step in the journey. He expressed the desire to see the MSMEs transition into large businesses that are able to access greater financing from the formal financing sector.
Attendees also benefited from crucial insights into developing their proposals and business development during a panel discussion from the Founder of Guyana Payroll Solutions Inc., Mr. Marlon George; Programme Lead at the Centre for Local Business Development, Mr. Ron Glasgow; Deputy Chief Executive Officer at the Small Business Bureau. Mr. Simon Pollard; Managing Director of Opulent Consultancy Inc., Mrs. Shaleeza Shaw, and Senior Vice President of the GCCI, Mr. Gavin Ramsoondar.
