With small businesses in various sectors of the country’s economy having become an increasingly ‘attractive’ option in the face of both high unemployment and evidence of growing entrepreneurial dispositions among younger Guyanese and in low-income households, the country’s recently unveiled 2024 budget presentation has articulated what government envisages as an intended response these issues. In his budget presentation in the National Assembly on Monday January 15, Senior Minister in the Ministry of Finance Dr. Ashni Singh asserted that “the strong growth in the (country’s) economy” now presents “an unprecedented number of opportunities to grow in the country’s economic climate.” According to Dr. Singh, those opportunities repose in the “impending expansion of the energy sector” a development which would realize cheaper and more reliable electricity, thus enabling small businesses “to provide a greater suite of goods and services.” While, however, small business aspirants and existing small business owners seeking growth opportunities may be encouraged by the upbeat tone in Dr. Singh’s presentation, questions are likely to arise in some quarters as to whether the lack of success across political administrations in adequately supporting the growth of the small business sector, previous undertakings notwithstanding, the promises enshrined in the current budget presentation will be supported by corresponding practical action.
