{"id":15859,"date":"2024-01-25T16:21:05","date_gmt":"2024-01-25T16:21:05","guid":{"rendered":"https:\/\/ncnguyana.com\/2023\/?p=15859"},"modified":"2024-01-25T16:21:06","modified_gmt":"2024-01-25T16:21:06","slug":"budget-2024-presents-business-opportunities-for-guyanese-private-sector-encourages-small-business-growth","status":"publish","type":"post","link":"https:\/\/ncnguyana.com\/2023\/budget-2024-presents-business-opportunities-for-guyanese-private-sector-encourages-small-business-growth\/","title":{"rendered":"Budget 2024 Presents Business Opportunities for Guyanese: Private Sector Encourages Small Business Growth"},"content":{"rendered":"<div id=\"fb-root\"><\/div>\n\n<p>Budget 2024, with a close to four billion dollar allocation for business development, is seen as a significant opportunity for all Guyanese to explore and benefit from. <\/p>\n\n\n\n<p>The private sector, particularly the Guyana Manufacturing and Services Association (GMSA), encourages individuals to examine the budget and identify areas where they can initiate and expand small businesses.<\/p>\n\n\n\n<p>Orson Ferguson, Second Vice President of GMSA, emphasizes the importance of individuals assessing how they can tap into the opportunities presented by the budget. <\/p>\n\n\n\n<p>He encourages Guyanese to ask themselves, &#8220;What&#8217;s in there for me?&#8221; and highlights the government&#8217;s commitment to spending money, urging citizens to explore ways to benefit.<\/p>\n\n\n\n<p>The 2024 budget allocates 450 million dollars for the Small Business Development Fund, providing 100 loans and 1300 grants. <\/p>\n\n\n\n<p>Another 331 million is allocated to the Small Business Bureau, aiming to train 2800 business owners. <\/p>\n\n\n\n<p>Paul Cheong from the Private Sector Commission encourages young people to leverage these opportunities, specifically in starting agro businesses, such as shade house and hydroponics.<\/p>\n\n\n\n<p>Moreover, the budget allocates 3.3 billion dollars for the construction and upgrade of industrial estates in Wales and regions 2 and 10. <\/p>\n\n\n\n<p>Rafeek Khan, Vice Chairman of the Private Sector Commission, commends this move, stating that it will contribute to decentralizing manufacturing, creating hubs across the country, and potentially reducing transportation costs.<\/p>\n\n\n\n<p>Budget 2024, with a total allocation of 1.146 trillion dollars, strategically targets various sectors and specific projects aimed at transforming the Guyanese economy.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Budget 2024, with a close to four billion dollar allocation for business development, is seen as a significant opportunity for all Guyanese to explore and benefit from. The private sector,&hellip;<\/p>\n","protected":false},"author":4,"featured_media":15860,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[361,366,350],"tags":[],"class_list":["post-15859","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-and-economy","category-local-development","category-news"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/15859","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/comments?post=15859"}],"version-history":[{"count":1,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/15859\/revisions"}],"predecessor-version":[{"id":15861,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/15859\/revisions\/15861"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media\/15860"}],"wp:attachment":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media?parent=15859"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/categories?post=15859"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/tags?post=15859"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}