SBB stays on track for 2021

The Small Business Bureau (SBB) has disbursed some $151M in grants and loans from its
$250M budget to hundreds of beneficiaries so far for this year, Chief Executive Officer (ag) Ms.
Vanessa Thompson said.
With more than 60 percent of its budgeted estimates for this year given out, the SBB is on track
to exhaust its 2021 voted sum.
“For this year so far, we have already disbursed 354 grants. I should as well mention that from
the Small Business Development Fund, we are also processing and disbursing COVID-19 relief
grants,” Thompson stressed.
She said “for this year we have already disbursed 30 COVID-19 relief grants… for the 354
grants disbursed so far, the total amount is $151.9 million and for the 30 COVID-19 grants, it is
$5.9 million.”
Applicants can get small business grants up to $500,000, while limits on COVID-19 grants are
set at $250,000.
The CEO reiterated that the disbursement of grants is a commitment by the current Guyanese
government and is to provide more incentives for small businesses and young entrepreneurs,
including micro-credit facilities. The SBB programme is geared to help the government fulfill
the creation of 50,000 jobs by 2025 which is one of the commitment of the Irfaan Ali-led
administration.
CEO Thompson said the SBB will be hosting a series of awareness sessions, so that more
persons can take advantage of financial avenues available to become entrepreneurs. These will
be done via the hosting of ‘One Stop Shop’ outreaches, similar to the one recently undertaken in
Pomeroon/Supenaam (Region Two) where over 100 persons applied for grants at the end of the
event.
The next event is scheduled for Cuyuni/Mazaruni (Region Seven).

“This year we really want to focus on providing more access to remote communities. The ‘One
Stop Shop’ is just one of the ways we would be doing this. The other way we would be doing
this is by strengthening the services provided by our Help Desk services and we have help desks
located in every region except Region Five (Mahaica/Berbice) and we are in discussion with
representatives to establish a help desk there,” Thompson reassured.
The SBB will also facilitate market linkages and analyses for its clients to access opportunities
that are available locally, regionally and internationally.
“We recently learnt of a company right here in Guyana that invested several millions into
machinery that produce juice, but there is not enough juice available to that company. So, how
can we link some of our clients who are in agriculture and producing the crops that they need to
that company so that they can fill that gap?” the SBB CEO queried rhetorically.
“So, we are looking to do market studies that will give us that sort of information, so that
we will be able to better guide our clients and position them to access these opportunities,”
Thompson said.