{"id":31226,"date":"2026-08-03T19:15:10","date_gmt":"2026-08-03T23:15:10","guid":{"rendered":"https:\/\/ncnguyana.com\/2023\/?p=31226"},"modified":"2026-08-03T20:22:07","modified_gmt":"2026-08-04T00:22:07","slug":"time-for-small-medium-businesses-to-step-up","status":"publish","type":"post","link":"https:\/\/ncnguyana.com\/2023\/time-for-small-medium-businesses-to-step-up\/","title":{"rendered":"Time for small &#038; medium businesses to step up"},"content":{"rendered":"<div id=\"fb-root\"><\/div>\n\n<p class=\"wp-block-paragraph\"><strong>-PSC says; as Guyana Development Bank now law<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">-by NaAsia Bristol<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">With the Guyana Development Bank Act 2026 now assented to by President Dr. Irfaan Ali, the establishment of the new institution is one step closer.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Private Sector Commission (PSC) is at the forefront of encouraging entrepreneurs to move beyond the startup stage and become investment-ready, allowing them to readily access financing.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">President Dr. Irfaan Ali assented to the Guyana Development Bank Act 2026 last Thursday, clearing the way for the zero interest, zero collateral loan facility to be set up.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Owners of small and medium sized enterprises are expected to be major beneficiaries of this institution, But the Private Sector Commission says accessing that financing will require more than just a good business idea.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">PSC Chairman Gerry Gouveia Jr. says while the new Bank will offer technical support, entrepreneurs must also prepare themselves. He offered the PSC\u2019s help in helping businesses to develop sound business plans and making sure their business is a viable one.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;<strong>My biggest thing for you is if you have a cool business idea, there are people that want to speak with you, there are people that want to work with you, and there are people that want to foster that. I can tell you, even at the Private Sector Commission, which is the apex private sector entity, we are reaching out to small businesses. If you have a cool idea, we want to hear about it. We will help you to the best of our ability<\/strong>,&#8221; he said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to the PSC Chairman, becoming bankable means proving a business is well planned and financially prepared.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Currently, a business support desk offering guidance has been set up in the PSC.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;<strong>So you have to know how to use the tools properly to get to where you want to go and the private sector commission is more than happy to work with any small business that wants. So you don&#8217;t have to be a member of the private sector commission to access our business development, small business development desk<\/strong>,&#8221; he said. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Ultimately, Gouveia emphasised that the more businesses that become investment ready, the stronger Guyana becomes. And this will help these entrepreneurs not only access loans from the Guyana Development Bank, but also even from international lending institutions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>-PSC says; as Guyana Development Bank now law -by NaAsia Bristol With the Guyana Development Bank Act 2026 now assented to by President Dr. Irfaan Ali, the establishment of the&hellip;<\/p>\n","protected":false},"author":1,"featured_media":31233,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[350],"tags":[488,370,698,412,405,1109],"class_list":["post-31226","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-488","tag-guyana","tag-guyana-development-bank","tag-ncn-guyana","tag-ncn-news","tag-psc"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/31226","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/comments?post=31226"}],"version-history":[{"count":1,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/31226\/revisions"}],"predecessor-version":[{"id":31228,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/31226\/revisions\/31228"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media\/31233"}],"wp:attachment":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media?parent=31226"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/categories?post=31226"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/tags?post=31226"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}