Local businesses scramble to keep up with oil boom

Dec 03, 2025 News

---

…financial institutions outline faster loan approvals, invoice-financing facilities for SMEs

(Kaieteur News) – As Guyana’s oil-driven economy surges, local small and medium-sized enterprises (SMEs) continue to struggle for financing and market share while foreign companies flood in with deeper pockets and faster access to capital.

In response, GrowthCLUB on Saturday hosted its 42nd quarterly business-planning workshop at the World Trade Centre Georgetown, drawing more than 100 business owners, entrepreneurs, and managers determined to stay competitive.

The event was organized by ActionCOACH Guyana, the World Trade Centre Georgetown (WTCG), Demerara Bank Limited (DBL), and the Institute of Private Enterprise Development (IPED), alongside private-sector partners. During the workshop, financial institutions including Demerara Bank and IPED highlighted how they are stepping in to help SMEs compete in the growing economy, offering faster loan approvals, competitive rates, and innovative financing solutions.

WTCG Executive Director Wesley Kirton urged participants to stay ambitious as Guyana’s fast-moving economy continues to evolve. “Entrepreneurs are the engines of every strong economy. The fact that you chose to spend your Saturday planning, learning and investing in your leadership tells us you are ready to play a bigger role in Guyana’s future,” he told attendees.

Dr. Vishnu Doerga, Business Master Coach of ActionCOACH Guyana guided business owners through structured planning tools, including quarterly goal setting, financial focus, team alignment and time mastery.  He challenged leaders to close the gap between what they say they value and what actually shows up in their calendars and behaviours.

“It’s not enough to talk about vision and culture,” Dr. Doerga told the attendees. “Real leadership is when your daily actions, your team’s focus and your numbers all line up with the future you claim you want. That level of alignment is what separates busy owners from true business leaders.”

Moreover, key financial partners used the platform to show how improved planning links directly to better access to capital.

Branch Manager at Demerara Bank Limited, Farahnaz Hosain highlighted the bank’s ongoing drive to make financing more accessible and responsive to modern business needs. She pointed to competitive interest rates, low fees and faster processing times as deliberate choices to support growing SMEs.

Hosain also spoke about DBL’s “Switch Your Mortgage” promotion and highlighted the bank’s ability to issue certain loan decisions within 24 hours, supported by upgraded systems such as Salesforce. “When business owners are organised, informed and clear on their numbers, we can respond faster and more effectively,” she noted.

IPED’s representative Business Development/Marketing Manager, Robert Williams drew on the organisation’s four decades of work with entrepreneurs across Guyana. He emphasised that while collateral and documentation matter, IPED’s real focus is on the person behind the business.

“About eighty percent of what we do is about trusting the individual their passion, their discipline and their willingness to grow,” he explained.

Williams outlined IPED’s new invoice financing facility, which can provide GYD $20–35 million in non-collateralised funding to improve cash flow, especially for contractors and suppliers waiting on payments.

“Too many good businesses stall because of cash flow gaps. This product is designed to keep work going and teams employed while you wait for your invoices to clear,” he added.

Participants also heard a candid success story from Jason Bhaskaran, CEO of the JSB Group of Companies, who traced his journey from a small sole proprietorship to a major supplier in the construction sector, now employing 75 staff and engaging over 100 contractors. He described how structured coaching helped him shift from being the “chief firefighter” in the business to building systems and leaders around him.

“Working with ActionCOACH was one of the best decisions I’ve made,” Bhaskaran shared. “Coaching forced me to face the numbers, face my habits and build a team that can run the business without me hovering over every decision. Even if you take one solid idea from GrowthCLUB and apply it consistently for a year, the change in your business can be dramatic.”

Attendees left the workshop with written 90-day plans and defined key performance indicators, as well as direct access to coaches and financial institutions. Notably, the organisers said the collaborative effort among ActionCOACH Guyana, WTC Georgetown, Demerara Bank, IPED and private-sector sponsors reflects the wider push to strengthen the capabilities of local businesses in Guyana’s rapidly expanding economy.

---

• GrowthCLUB, LOCAL BUSINESSES, oil, Oil boom

---