Financing woes of small businesses highlighted

Dean of the School of Entrepreneurship and Business Innovation, Dr. Leyland Lucas

Stakeholders yesterday used a Local Content consultation – primarily focused on the oil and gas industry – to request that government legislate for easier access to financing especially for small to medium size enterprises (SMEs).

“We have cases where companies have a contract but the requirement of collateral from banking institutions is hampering private sector development,” Director of ExxonMobil’s Centre for Business Development, Natasha Gaskin-Peters told the forum.

She explained that as Guyana’s economy changes all aspects must evolve and transform.