By: Antonio Dey | HGP Nightly News |
Micro, small, and medium-sized enterprises (MSMEs) must urgently reassess their approach to investment opportunities if they are to thrive in an increasingly competitive business environment—both domestically and internationally. This was the emphatic message delivered by Georgetown Chamber of Commerce and Industry (GCCI) President Kathy Smith at the Chamber’s Business Development Forum held Thursday at the Pegasus Hotel.
Smith told attendees that while many MSMEs complain about limited access to financing, their practices and attitudes are often significant barriers to progress.
“Small businesses are complaining that they are not getting finances. Sometimes when I call these people, they would say, ‘Oh, I didn’t know the number, so I didn’t answer the call,’” she noted.
The GCCI President underscored that attitude determines aptitude, emphasizing that business owners must be responsive, professional, and proactive if they expect investors, banks, and customers to take them seriously.
“You want to convince me to buy your products, but now you don’t want to answer a call from an unknown number? I am also seeing where small businesses are doing work from home,” she pointed out.
Smith said MSMEs often exclude themselves from lucrative opportunities because they fail to meet basic business requirements. She urged small enterprises to examine whether they are adopting the proper practices before criticizing the financial sector for denying loan applications.
“You know why the bank is saying no? Because they cannot trace you. You are not depositing money in a business account. You have to be traceable. You have to set up business accounts and you must set up a space of operation,” Smith stressed.
Meanwhile, Komal Samaroo, Executive Director of the World Trade Centre, encouraged MSMEs to master the art of prioritization and resource planning.
“The question is how you prioritise—what do we need first? Resources required versus resources available. That’s a whole new discussion about resource mobilization,” Samaroo explained.
He reminded business owners that strategic planning and market awareness are essential for growth, noting that successful entrepreneurs must be attuned to consumer demands and understand how their products or services fit into the broader economic landscape.
The Business Development Forum brought together key stakeholders to provide guidance, direction, and practical insight as Guyana’s business sector continues to expand rapidly.
