Latest update March 27th, 2026 12:40 AM
‘Stop watching from the sidelines’ – GCCI President
…urges Guyanese businesses to step up as economy booms
(Kaieteur News) – With Guyana on the brink of unprecedented economic expansion, local businesses are being urged to stop acting as bystanders in their own country’s development and instead seize the opportunities unfolding around them.
President, GCCI, Kathy Smith (Photo credit: Jason Medas)
This was the central message delivered on Thursday at the Georgetown Chamber of Commerce and Industry’s (GCCI’s) fifth Business Development Forum, where more than 100 small, medium, and micro enterprises gathered at the Pegasus Suites and Corporate Centre for presentations on scaling up, export readiness, and tapping local markets.
During opening remarks at the Forum which concludes today, President of the GCCI, Kathy Smith chided small businesses for engaging in some practices which she says may be staggering growth. “Small businesses are complaining that they are not getting finances but sometimes when I call these people, first thing I can’t get them on the phone because they would say to me ‘oh I don’t know the number so I didn’t answer it’. Now you are in business trying to convince me to buy your products and services and you don’t want to take a call that you don’t know the number,” she reasoned.
Further, the GCCI executive noted that some small businesses still operate from home after benefitting from contracts. “You are getting contracts, you are growing but your business is done in your home and when the contract money comes you gonna fix the stairs, put down a house on the land, you are gonna buy a car or two, go on a few vacations and then when you go to the bank and when the bank say no you call Kathy or the GCCI. You know why the bank is saying no small business owner? Because they can’t trace you.”
DDL Chairman Komal Samaroo delivering the feature address at the GCCI’s Business Development Forum (Photo credit: Jason Medas)
To this end, she pointed to the need for businesses to create accounts, hire employees and other small but meaningful moves that could aid in traceability, such as creating an email address, Linked In profiles and a website. Smith was keen to note that companies from Trinidad, Barbados and Jamaica are moving in while Guyanese are sitting comfortably observing. The business owner however urged, “We have to ensure that we are not spectators into what is happening in our own country. As a small business owner, you are the champion of the growth and development in Guyana. Stay the route, stay locked in.”
Moreover, as the economy evolves, she charged local entrepreneurs to ensure their businesses reflect the growth in how they meet the rising demand and fine-tune products and services.
According to her, “Guyana’s rapid pace of development is unmatched. The government continues to rollout developmental projects and initiatives while streamlining systems for increased efficiency and a diverse economy and the private sector as the beating heart of the economy must keep up.”
Meanwhile, the keynote speaker of the event, Chairman of Demerara Distilleries Limited (DDL) and Demerara Bank, Komal Samaroo highlighted the importance of seizing opportunities currently available. More importantly, he urged businesses to plan efficiently and stay informed on international trends.
He said, “No country is an island by itself…therefore we need to think how we take advantage and plan our businesses so that we are not impacted by negative global trends.” The businessman stressed the need for careful planning and recommended the SWOT model to businesses to analyse strengths, weaknesses, opportunities and threats to aid in the evolution of a robust growth strategy.
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