Small business owners across Guyana have welcomed the government’s latest move to expand access to financing, following the tabling of a series of financial measures in the National Assembly on Friday aimed at supporting entrepreneurship, infrastructure development, and stronger management of oil revenues.
Senior Minister in the Office of the President with responsibility for Finance, Dr Ashni Singh, presented the Guyana Development Bank Bill 2026, which proposes the establishment of a state-backed development bank designed to improve access to credit for small and medium-sized enterprises (SMEs).
Under the proposed legislation, SMEs and individuals would be eligible for microcredit loans of up to $3 million at zero interest. The initiative would also provide business training and mentorship programmes to help entrepreneurs strengthen and grow their operations.
The announcement has been met with enthusiasm from members of the small business community, many of whom have long cited access to financing as one of the biggest challenges to expansion.
Owner of Propa Local Wines & Teas, Abigale John, said the proposal could encourage more entrepreneurs to invest in their businesses.
“With all of these commercial banks and the amount of requirements they have, it has never motivated me,” John said. “Here now I’m having a loan that I don’t have to pay interest on. Guyana better brace itself. It’s production, production and more production,” she added.
Fresh Packagers owner Sursattie Paul noted that access to financing has remained a persistent challenge for small businesses.
“That’s a good initiative because for years we’ve been struggling with finance. Every business is struggling with that,” she said, explaining that many small enterprises face cash flow constraints while continuing to meet supply demands.
Meanwhile, Founder and Creative Director of Artellica AI, Amrita Naraine, described the initiative as a significant step forward for entrepreneurs, particularly those in the creative sector.
She said easier access to smaller-scale financing could help businesses grow while easing repayment burdens, creating new opportunities for innovation and expansion across emerging industries.
“It is such an amazing initiative. I’ve had over eight years of experience in SME development, and something that I’ve heard many entrepreneurs complain about is getting debt financing,” Naraine noted.
Founder and Creative Director of Artellica AI, Amrita Naraine
