Guyana National Bureau of Standards Launches National Standardisation Strategy

The GNBS, in collaboration with CARICOM and UNIDO, has embarked on a three-year project to develop a National Standardisation Strategy (NSS). This initiative aims to align Guyana’s industries with international standards, addressing economic, social, and environmental priorities. The strategy seeks to enhance the country's National Quality Infrastructure, promoting product reliability and safety across sectors such as agriculture and oil and gas. Stakeholders are actively encouraged to contribute, ensuring a comprehensive and inclusive approach. Public engagement sessions have already begun to raise awareness and gather input.

Government Defends Infrastructure Investments Amid Criticism Over Wage Increases

In the wake of rising inflation, the government has faced opposition criticism for the absence of wage hikes in the 2025 budget. Minister Susan Rodrigues defended the administration's focus on transformative infrastructure projects, including road and housing developments, as key drivers of economic growth. Opposition critiques centered on the perceived lack of direct support for cost-of-living pressures. As Parliamentarians continue to debate, the broader discourse reflects contrasting priorities between immediate financial relief and long-term development.

Business Opportunities Based On Today’s Developments

Small Enterprises (SMEs)

1. Consulting Services for Grant Applications and Tax Incentives

   • Opportunity: With the increased income tax thresholds and tax breaks on agricultural and energy equipment, SMEs can offer consulting services to individuals and businesses to navigate and maximize these benefits.

   • Notes: Create affordable packages for small-scale farmers and micro-businesses in agriculture and poultry, guiding them on VAT exemptions and tax credits. Workshops or webinars could further enhance outreach.

2. Local Supply Chain Partnerships for Parika Development

   • Opportunity: The Parika Waterfront Development Project will create a regional hub for transportation and commerce, opening doors for local suppliers of construction materials, logistics, and catering services.

   • Notes: Focus on establishing relationships with contractors and government agencies involved in the project. Offer unique services like eco-friendly building materials or fast delivery systems.

3. Digital Marketing for Local Businesses

   • Opportunity: Many small businesses will need to attract customers in line with the increased economic activity spurred by the budget's initiatives. Offer affordable digital marketing, content creation, and e-commerce services.

   • Notes: Highlight the benefits of local SEO and advertising, particularly targeting regions with new industrial estates and expanding infrastructure.

Medium Enterprises (MEs)

1. Agricultural Machinery Importation and Distribution

   • Opportunity: With the removal of VAT on agricultural equipment, there is significant potential to establish or expand a business importing and distributing machinery like tractors, automated poultry pens, and irrigation systems.

   • Notes: Establish relationships with international manufacturers to offer competitive pricing. Explore financing options for customers, possibly collaborating with banks.

2. Food Processing and Packaging

   • Opportunity: The focus on quality standards and agriculture growth creates opportunities for medium-scale enterprises to produce packaged goods like frozen produce or ready-to-cook meal kits.

   • Notes: Invest in meeting GNBS and international standards to ensure products are suitable for export. Tap into CARICOM markets for regional distribution.

3. Specialized Construction Services

   • Opportunity: The Parika hub, industrial estates, and other infrastructure projects will require specialized construction services such as dredging, warehouse building, and road development.

   • Notes: Medium-scale construction firms can partner with larger contractors to offer niche services, such as eco-friendly building or custom designs for industrial estates.

Large Enterprises (LEs)

1. Logistics and Shipping Expansion

   • Opportunity: The dredging of Demerara River channels and removal of obstructions in major waterways enhance Guyana’s shipping capacity, paving the way for large-scale logistics and maritime companies to expand.

   • Notes: Develop large-scale warehousing and distribution centers, and offer integrated logistics solutions to support trade growth driven by improved maritime infrastructure.

2. Renewable Energy Projects

   • Opportunity: The government’s focus on infrastructure and energy development creates opportunities for large-scale renewable energy projects like solar farms, hydropower, and wind energy to support industrial estates and reduce electricity costs.

   • Notes: Position renewable energy projects as sustainable solutions aligned with Guyana’s economic growth goals. Leverage government incentives and potential international funding for green energy.

3. Standardization and Certification Services

   • Opportunity: The National Standardization Strategy emphasizes quality control for products and services, creating opportunities for large firms to provide certification, auditing, and consulting services.

   • Notes: Establish regional offices in key economic zones. Partner with GNBS and CROSQ to offer globally recognized certifications that enable Guyanese products to enter international markets.

Key Notes Across All Categories:

• Leverage Incentives: Many of the opportunities, particularly in agriculture and infrastructure, are underpinned by government tax reliefs and grants. Understanding these incentives deeply will be crucial for businesses of all sizes.

• Focus on Collaboration: Collaborating with government agencies, international organizations (like CROSQ and UNIDO), and other private entities will maximize success.

• Adopt Technology: Across sectors, integrating technology into offerings—whether digital marketing, smart machinery, or energy solutions—can create competitive advantages.

Each of these opportunities aligns with the current economic momentum in Guyana, providing significant potential for growth and profitability.

Side Hustle Ideas Based On Today’s Developments

1. Specialized Food or Beverage Cart Near Infrastructure Projects

• Opportunity: With massive infrastructure projects like the Parika Waterfront Development and industrial estates underway, food and beverage carts can cater to workers, contractors, and visitors. Offer niche items like energy-packed meals, smoothies, or coffee that appeal to busy professionals.

• Implementation:

  • Start with a low-cost cart or kiosk that is mobile.

  • Focus on products that require minimal prep but offer high margins, such as breakfast wraps, cold brews, or fresh juices.

  • Use social media to promote daily locations and special deals for workers.

• Why It Works: High foot traffic areas near projects ensure consistent demand, and the investment is minimal compared to a fixed-location restaurant.

2. Mobile Digital Services for Small Businesses

• Opportunity: Many local businesses in Guyana lack digital tools like websites, online booking systems, or basic social media presence. Offer affordable and easy-to-deploy digital services such as creating simple websites, managing social media, or even implementing payment gateway integrations using MMG.

• Implementation:

  • Create basic packages (e.g., a $100 USD website setup or $50 USD/month social media management).

  • Use free tools like Canva for designs and platforms like Shopify or WooCommerce for e-commerce.

  • Partner with local small businesses in sectors like agriculture, retail, and hospitality that are trying to modernize.

• Why It Works: Most small businesses lack the expertise to digitize their operations, making this a high-demand service at an accessible price point.

3. Custom Agricultural Equipment Leasing Service

• Opportunity: With VAT exemptions on agricultural machinery and the push to expand agriculture, there’s a growing need for equipment like small-scale plows, irrigation pumps, or automated poultry pens. People can invest in such equipment and lease it out to small farmers who cannot afford to buy outright.

• Implementation:

  • Purchase one or two in-demand pieces of equipment through financing or a small initial investment.

  • Partner with farming co-ops or advertise services directly to rural farmers.

  • Offer daily or weekly rental plans, including basic operation training.

• Why It Works: Agriculture is growing rapidly, and small-scale farmers need access to tools but may not have capital to invest. Leasing provides recurring revenue with manageable overheads.

Key Considerations for Side Hustles in Guyana

• Start Small, Think Scalable: Begin with a manageable setup that can expand as demand grows.

• Leverage Digital Marketing: Use WhatsApp, Facebook, and Instagram to promote offerings locally and reach target audiences effectively.

• Target Niche Markets: Focus on specialized services that address gaps in the local market, such as tools for farmers or digital solutions for small businesses.

• Flexibility is Key: Prioritize opportunities that allow flexibility around full-time jobs, such as evening or weekend operations.

These side hustles align with Guyana’s growing economy and evolving needs, offering individuals the chance to generate additional income while contributing to the country’s development.