Avenues being actively created...

“We realised that the big businesses were crowding out small businesses. So, we made a carve-out in the Small Business Act for small businesses to be able to get incentives to be afforded grants. There is even a loan guarantee programme; all of it to help and support and to bolster our small businesses,” Minister Walrond disclosed.

The act recognises the significance of small businesses as a source of employment and a driver of the economy, particularly in their respective communities.

It also provides a legal and policy framework to support small businesses and ensure that they have the necessary tools to succeed.

Meanwhile, Minister Walrond highlighted another significant initiative implemented by the government through the Public Procurement Law, which ensures that con - tracts are awarded on the basis of merit and not on any other considerations such as political affiliations or personal connections.

“Contracts are not handed out to people based on what you look like [and] who you voted for. There is a public procurement system that is open and transparent, and there are a lot of laws that this government has instituted. What it does…it opens the playing field for every single Guyanese business to have the opportunity to be able to access all of these opportunities regardless of where you are,” she said.

Additionally, the government has developed a procurement portal where businesses can access opportunities and submit bids.

Minister Walrond said the government is committed to strengthening small businesses by creating a conducive environment for their growth and development.