Guyana’s Exports Surge 285% in Three Years

Between 2020 and 2023, Guyana's exports skyrocketed by 285%, rising from $2.8 billion to $10.8 billion, largely due to a 106% increase in non-oil exports. Foreign Affairs Minister Hugh Todd highlighted efforts to remove trade barriers, leading to significant export growth to markets like the US, UK, EU, and emerging destinations such as the UAE and Singapore. With robust foreign policy and advancements in agriculture and energy, Guyana is emerging as a regional leader in economic and environmental development.

Guyana’s Carbon Credits Attract Global Aviation Attention

The International Air Transport Association (IATA) successfully facilitated the sale of carbon credits tied to Guyana’s REDD+ ART Trees programme to airlines under CORSIA. These credits, priced at $21.70 per ton, reflect Guyana’s commitment to sustainable development and its position as a leader in carbon markets. Airlines now view Guyana as a crucial partner in meeting international emissions reduction goals, with future transactions planned.

Business Opportunities Based On Today’s Developments

Small Enterprises (SMEs)

1. Carbon Credit Aggregation and Consulting

   • Opportunity: With Guyana’s success in the global carbon credit market, small enterprises could act as intermediaries to aggregate credits from local landowners or small-scale projects and sell them to international buyers.

   • Why It’s Viable: The carbon market is poised for growth, with demand from industries such as aviation. SMEs can offer consulting to businesses on certification processes like REDD+.

   • Notes: Initial investment in learning about carbon markets and certification processes is necessary but can be supported through partnerships with government and NGOs.

2. Hospitality Support Services

   • Opportunity: The expanding hospitality sector presents opportunities for SMEs to provide ancillary services such as laundry, housekeeping staffing agencies, or specialized cleaning for hotels.

   • Why It’s Viable: Hotels such as the Marriott and Pegasus rely heavily on local services. By providing professional-grade, outsourced support, SMEs can tap into this growing demand.

   • Notes: Focus on quality assurance and competitive pricing to build long-term contracts with major players in the industry.

3. Agro-Processing of Specialty Crops

   • Opportunity: Leverage VAT exemptions on agricultural machinery to set up agro-processing businesses, particularly in specialty areas like organic poultry, cassava flour, or dehydrated fruits.

   • Why It’s Viable: With support from the 2025 Budget and growing local demand for agro-processed products, small enterprises can benefit from reduced startup costs and a supportive ecosystem.

   • Notes: Collaboration with larger farms or cooperatives can help secure raw materials, ensuring consistent supply.

Medium Enterprises (MEs)

1. Sustainable Aviation Solutions

   • Opportunity: Develop a medium-scale business focusing on supplying or certifying carbon credits for aviation under IATA’s CORSIA program.

   • Why It’s Viable: Guyana’s leadership in carbon markets creates a direct pathway to engage international airlines and corporations needing offsets.

   • Notes: Partnerships with international brokers like Xpansiv could streamline market entry, while local expertise can serve as a competitive advantage.

2. Eco-Tourism Ventures

   • Opportunity: Tap into low-carbon development initiatives by creating eco-tourism lodges or experiences that integrate carbon offset opportunities.

   • Why It’s Viable: Non-traditional markets such as the UAE and Singapore are drawn to Guyana’s biodiversity. Partnering with international travel agencies can attract high-value tourists.

   • Notes: Incorporate technology like virtual tours or carbon-neutral transportation options to stand out.

3. Energy Efficiency Retrofits for Hotels

   • Opportunity: Offer retrofitting services to hotels to enhance energy efficiency, leveraging tax breaks and upcoming infrastructure improvements like the Gas-to-Energy project.

   • Why It’s Viable: Hotels are incentivized to reduce operational costs and may seek partnerships with companies offering green technology solutions like solar panels or energy-efficient appliances.

   • Notes: Combine retrofitting with a financing model (e.g., shared savings agreements) to lower entry barriers for clients.

Large Enterprises (LEs)

1. Large-Scale Renewable Energy Projects

   • Opportunity: Invest in utility-scale renewable energy projects, such as solar farms or wind energy, to complement the Gas-to-Energy initiative and tap into growing energy demands.

   • Why It’s Viable: Guyana’s push for sustainable development aligns with large energy projects, especially as businesses and industries seek cleaner, cheaper energy sources.

   • Notes: Collaboration with government and multinational investors can provide access to grants or concessional loans.

2. Infrastructure Development for Non-Traditional Export Markets

   • Opportunity: Build logistics hubs or port facilities to enhance trade with growing export destinations like India, the UAE, and Singapore.

   • Why It’s Viable: These markets have shown strong demand for Guyanese crude oil and other goods, creating opportunities for efficient supply chain infrastructure.

   • Notes: Focus on multimodal transport solutions to improve connections between interior production zones and export ports.

3. Carbon Market Fund

   • Opportunity: Establish a large-scale investment fund focused on carbon market projects, pooling resources to support smaller developers while earning returns from carbon credit sales.

   • Why It’s Viable: The carbon credit market is gaining momentum, and a fund could capitalize on high-quality projects from Guyana while attracting institutional investors.

   • Notes: A well-marketed fund could also attract international climate investors, further solidifying Guyana’s position as a carbon market leader.

Summary Thoughts

• The overarching themes from today’s developments—carbon markets, hospitality growth, and energy infrastructure—highlight opportunities across all business sizes.

• For SMEs and MEs, niche solutions like agro-processing and sustainable aviation consulting leverage low capital entry points and government support.

• Large enterprises benefit from economies of scale and can tackle ambitious projects, such as renewable energy or export infrastructure, that align with Guyana’s economic growth trajectory.

• Collaboration between business scales (e.g., SMEs partnering with LEs for supply chain roles) can amplify these opportunities.

Side Hustle Ideas Based On Today’s Developments

1. Carbon Credit Aggregation Services for Small Landowners

• Concept: Act as a carbon credit broker for small landowners, farmers, and cooperatives. Facilitate their participation in carbon markets like REDD+ by managing documentation, certification, and sales of carbon credits to international buyers or programs like CORSIA.

• Why It’s Viable: Guyana is leading the global carbon credit conversation, and even small landowners can benefit from selling their forest conservation efforts. However, many lack the expertise to navigate the system, creating an opportunity for a middleman service.

• What You Need:

  • Basic understanding of carbon credits (can be learned via online courses or government programs).

  • Partnerships with local environmental NGOs or the government for certification.

  • Networking with international carbon buyers or brokers.

• Potential Earnings: High, as brokers can earn a commission per ton of carbon credit sold (e.g., $2–$5 per ton at today’s market prices).

2. Customized Agro-Processing Services

• Concept: Leverage tax exemptions and growing interest in local food products to produce small-batch, value-added products like dehydrated fruits, cassava chips, or organic spices. Market these to local consumers or export to niche international markets.

• Why It’s Viable: The VAT exemptions on agricultural machinery and equipment reduce startup costs. With Guyana’s expanding population and increasing interest in local, organic products, demand is strong.

• What You Need:

  • A small dehydrator or processing equipment.

  • Partnerships with local farmers for raw materials.

  • Basic branding and social media marketing to reach consumers.

• Potential Earnings: Moderate to high. Small batches of premium dehydrated fruits or spices can sell for 2–3x the price of raw materials.

3. Event Planning and Experiences for Business Tourism

• Concept: Offer curated event planning services targeting the growing influx of business travelers and expats. This could include arranging cultural tours, premium dining experiences, or even hosting corporate events with a Guyanese flair.

• Why It’s Viable: The growth of the oil and hospitality industries has brought a surge in corporate visitors who are eager to explore the local culture or organize team-building events. There’s a gap for personalized, high-quality experiences.

• What You Need:

  • A network of local vendors (e.g., caterers, transport providers, entertainers).

  • A knack for organization and an understanding of what international clients value.

  • Marketing through platforms like LinkedIn or partnerships with local hotels.

• Potential Earnings: High for a side hustle. Customized corporate packages can charge premium rates, especially for expat-oriented services.

Why These Ideas Stand Out

• Scalability: All three ideas can start small and expand as demand grows.

• Alignment with Growth: Each aligns with sectors booming in Guyana, such as oil-driven tourism, agriculture, and sustainability.

• Accessibility: These require relatively low startup capital, making them feasible for people with existing jobs who want to earn extra.

These ideas leverage the unique opportunities presented by Guyana’s economic expansion while keeping the scale manageable for someone pursuing a side hustle.