Micro and small business owners and aspirants across the Caribbean, not least here in Guyana, are likely to proffer mixed responses to this week’s announcement that the Bridgetown- based Caribbean Development Bank (CDB) has approved US$160,000 to fund a feasibility study for the establishment for a Regional Credit Enhancement Facility (RCEF) for Micro, Small and Medium-sized Enterprises (MSMEs).
While the Bank’s disclosure will be seen as representing an initiative designed to explore viable solutions to the recurring challenges MSMEs face in accessing financing for small business growth, it is, as well, likely to be regarded as a ‘baby step’ in what has been a ponderous journey towards the growth of the micro and small business sectors in the region.