Micro, small and medium-sized enterprises (MSMEs) need better access to markets, financing and buyers to benefit from growing CARICOM trade, which remains limited across the region.

This is according to Caribbean Development Bank (CDB) Private Sector Division Chief Lisa Harding.

She was speaking at the World Trade Centre Georgetown's Trade and Business Conference, held in collaboration with the Institute of Private Enterprise Development (IPED). Harding questioned why MSMEs continue to be overlooked in investment, trade and financing decisions despite their contribution to Caribbean economies.

Harding said intra-CARICOM trade rose from US$5.2 billion in 2023 to about US$7.1 billion in 2024. However, this represented only about 7.4 per cent of the bloc's global trade, pointing to room for deeper regional integration.

She said MSMEs make up an estimated 70 to 85 per cent of enterprises, contribute up to 70 per cent of gross domestic product and support about half of regional employment.

"These are not businesses that are on the sidelines of the economies. They are at the heart of how we create jobs, how we earn income," she said.

Harding identified opportunities for Guyanese entrepreneurs in agriculture, tourism, oil and gas, construction, renewable energy and professional services, but said spotting them would not guarantee success. Small businesses must connect with buyers, understand supply requirements, meet quality standards and deliver consistently, she said, while financial institutions must offer financing suited to specific needs, whether working capital, equipment or trade finance.

"Finance must follow the business opportunity and not force the business to fit the financing product," she said.

She also called for stronger accountability in business support programmes, saying success should not be measured by the number of entrepreneurs trained or sent on trade missions. Organisations should instead track whether businesses secure contracts, enter new markets, increase sales and create jobs.

"The real success is not really about getting a business in the room. It's about helping the business to win that order," she said.