Ahead of the November 27 – 29 Business Exposition 2015 the Ministry of Business will host a three-day training exercise for small entrepreneurs at the Arthur Chung Conference Centre from November 20 – 22.
A press release sent to this newspaper stated that the initiative will receive support from various public and private sector agencies including the National Procurement & Tender Board (NPTB) and local commercial banks including the Guyana Bank for Trade and Industry (GBTI) and Republic Bank.
Participants in the seminar will benefit from several key sessions including, financing for small business and understanding government procurement procedures. The latter coincides with preparations to implement the allocation of a percentage of state contracts to small businesses in areas where they have demonstrated a measure of proficiency.
Participants in the event will also secure the opportunity to dialogue with the banking sector on issues pertaining to entrepreneurship and financing businesses. Small business owners and aspirants continue to complain about problems associated with securing startup loans and other forms of financing from the local commercial banking system though the Small Business Bureau now facilitates a limited commercial bank lending facility under the MSED project which allows the Bureau to provide a limited level of collateralization for bank loans.
Participants will also benefit from sessions on digitizing business operations, marketing and optimizing participation in international trade fairs.
Over the years the Guyana Office for Investment (GO-Invest) has been responsible for planning local participation in international trade fairs though participants have provided mixed reviews of their outcomes. This newspaper understands that GO-Invest is to benefit from a restructuring exercise, but since the change of government the new administration is yet to name a replacement for the previous Chief Executive Officer.
