Why not embrace entrepreneurship? Guyana’s landscape is ripe for innovation and growth and now is the time to turn your business into a reality.
Whether you are trying to create a business or expand your small business you will need funding. Let’s explore how you can utilise financing from the Small Business Bureau (SBB). We will explore how you can access funding from other funding agencies in other articles.
The Small Business Bureau (SBB) which falls under the purview of the Ministry of Tourism, Industry & Commerce provides financial support, business development services, and guidance to entrepreneurs looking to make their business a success. The Small Business Bureau provides grants of up to 500,000 dollars.
To be eligible for a small business development grant you must meet the following criteria:
- Unemployed or employed by a private sector or non-governmental organization
- The owner of a business or seeking to start a business
- A registered client of the Small Business Bureau
- Submit copies of your Business Registration, National Identification Card, and Certificate of Tax Identification Number
- Submit a complete business plan document
- Submit quotations for items to be purchased with the grant funding
- Submit valid GRA and NIS compliance documents.
When your application is submitted The Small Business Bureau (SBB) will then evaluate your application to gain insight into the business’s operations. Once approved, the grant agreement is signed, and funds are prepared, approved, and disbursed.
Moreover, receipts for purchased items must be submitted to the bureau and periodic monitoring and evaluation visits are conducted.
For more information on small business development grants visit the SBB’s website