Private sector raises access to financing in closed-door meeting with President

Members of the private sector at the meeting

Government assistance to access financing for small and start-up businesses, along with the need for ease in doing business took focus yesterday when President Irfaan Ali and Vice President Bharrat Jagdeo held a closed-door meeting with Guyana’s Private Sector.

“A number of issues were discussed but the whole issue of local content tied into accessing loans for small and start-up businesses to make them competitive in this emerging oil economy was a key area,” a private sector participant told Stabroek News following the meeting.

“How do we get Guyanese to get loans to develop businesses and cutting the red tape and overall change of the attitude to especially the banks was discussed. There was a complaint of one business that took five days to set up an account and everyone was saying that person was lucky because what happens to the business that takes five months,” another participant said.