GCCI continues efforts to enhance capacity of small businesses

Nov 09, 2017 News

The Georgetown Chamber of Commerce and Industry (GCCI) is continuing efforts to build and strengthen capacity of small businesses across Guyana through the Caribbean Development Bank (CDB)-funded “Enhancing the Capacity of Micro, Small and Medium Sized Enterprises, (MSMEs) project.
GCCI, which had received financial and technical support from the CDB, through its Caribbean Technological Consultancy Services Network (CTCS), is implementing a three-year programme entitled (MSMEs) in Guyana.
Giving an update on the project on Monday, CTCS Project Liaison Officer Eusi Evelyn explained that through the programme, the GCCI provides technical assistance support via workshops, seminars and organizational attachments to 15 sub-projects areas over a three-year period targeting MSMEs in the various sectors and sub-sectors.
In promoting the programme countrywide, Evelyn noted that GCCI has held a number of consultations and has collaborated with many stakeholder groups, including RDC-Regional Democratic Councils, the Indian Arrival Committee, African Cultural and Development Association, Tourism and Hospitality Association of Guyana, Inter-American Institute for Cooperation on Agriculture, New Guyana Marketing Corporation, Small Business Bureau, Linden Town Council, Linden Enterprise Network, World University Service of Canada and Kuru Kuru Cooperative College.
According to Evelyn, the objective of this programme is to enhance the managerial, technical, and operational capacity of MSMEs in Guyana, thereby contributing to increased productivity, profitability and competitiveness.
It is expected that the training activities will assist MSMEs to transition from small scale operations to large volume production and take advantage of export opportunities when they arise.
The GCCI had received a grant of US$226,195 from the CDB towards the cost of improving competitiveness in Guyana and strengthening of small and micro enterprises (SMEs) to increase non-traditional exports.
The grant is provided through the CARIFORUM-EU Economic Partnership Agreement (EPA) Standby Facility for Capacity Building under the 10th European Development Fund (EDF). The grant resources are to be used to enhance the export-readiness of enterprises in creative industries, particularly music and art and craft, as well as in agro-processing. The project also seeks to build the capacity of business and trade support of business organisations to deliver value-added support services to the targeted industries.
CDB, through its funding, seeks to assist Guyana’s most export-ready enterprises operating in the identified industries to improve their business and production practices and product quality in line with the market requirements in the European Union (EU), CARIFORUM and French Caribbean Outermost Regions (FCORs)/Overseas Countries and Territories (OCTs) markets. Participating enterprises and musicians will receive assistance to identify specific “best bet” trade opportunities, particularly those made possible through the EPA.
Participants will receive assistance to develop export development plans which will outline the strategy and actions required for them to successfully enter or deepen their penetration of the targeted markets.
The project is expected to develop and initiate implementation of approximately 19 export development plans and three-year export development strategies, and action plans for the three industries.

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GCCI continues efforts to enhance capacity of small businesses

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