Young Guyanese leaving universities and vocational training institutions are being encouraged to consider entrepreneurship as a pathway to employment and economic opportunity.
The Small Business Bureau says many graduates leave with valuable skills and business ideas, but lack of access to financing, particularly collateral can prevent those ideas from becoming businesses.
“Many people left the university, they left those training centers with good business ideas, but because they do not have collateral, they cannot approach a bank, they cannot turn that idea into a business venture because they don’t have collateral,” he said.
The Bureau emphasizes that financing opportunities can help remove barriers for young people with technical skills, particularly in growing sectors like construction.
The SBB offers training in business proposal writing, financial management, record-keeping, and small business management.
“Put your business ideas on paper, seek advice from those who have the requisite knowledge to help you in terms of preparing your business plan, prepare your business proposal, if you’re having some challenges with understanding financial management and small business development and so on, you can come to the Small Business Bureau,” he urged.
The Bureau says its training and advisory services are intended to help entrepreneurs become better prepared to access financing and manage their businesses.
And with new financing opportunities like the Guyana development bank becoming available to small businesses, the SBB is urging young Guyanese with the skills and ideas to move from simply having a business concept to building a viable enterprise.