$3.3M Contract for Electronic Health Record System

UK-based RioMed Limited has been awarded a $3.3 million contract to implement an Electronic Health Record (EHR) system across Guyana. Phase one will launch in early 2025 at Georgetown Public Hospital and its clinics, aiming to streamline patient records and improve healthcare delivery. The project is part of a $97 million initiative funded by the Inter-American Development Bank.

New Year’s Budget to Reflect Bold Vision for 2025

The upcoming 2025 budget will drive Guyana’s growth through investments in housing, healthcare, and infrastructure. Key highlights include completing the Demerara River Bridge, expanding telemedicine services, and distributing over 50,000 house lots. The government also pledged to continue cash grants and implement smart road safety initiatives, reinforcing its commitment to improving living standards across the country.

Business Opportunities Based On Today’s Developments

Small Enterprises (SEs)

1. Renewable Energy Installation and Maintenance Services

   • Opportunity: The Gas-to-Energy (GtE) project will lower electricity costs, incentivizing individuals and businesses to adopt complementary renewable energy solutions like solar panels and energy-efficient systems.

   • Notes: SEs can specialize in solar panel installation, maintenance, and consultancy to help households and small businesses further reduce energy costs. Partnerships with government incentives could provide a competitive edge.

2. Health and Wellness Products for Hospitals

   • Opportunity: With six regional hospitals set for completion, there is a growing demand for affordable, locally-produced health and wellness products such as sanitizers, dietary supplements, and ergonomic equipment.

   • Notes: Focus on creating high-quality products that meet healthcare standards. Leveraging partnerships with healthcare providers can open recurring supply contracts.

3. Catering Services for Construction and Healthcare Workers

   • Opportunity: The construction of hospitals, nursing schools, and other infrastructure projects will bring an influx of workers. Once operational, these facilities will also require catering for staff and events.

   • Notes: Offer tailored meal plans, including healthy and culturally relevant options. Flexibility and reliability in delivery will be key.

Medium Enterprises (MEs)

1. Specialized Logistics and Transportation

   • Opportunity: With the GtE project and expansion of healthcare infrastructure, efficient transportation of materials, medical supplies, and personnel will be critical.

   • Notes: Invest in temperature-controlled vehicles and robust tracking systems to cater to the medical and industrial sectors. Consider diversifying into last-mile delivery for hospitals and clinics.

2. Construction and Maintenance Services

   • Opportunity: The development of hospitals, new bridges, and housing projects provides a lucrative opportunity for construction firms specializing in subcontracting, retrofitting, or post-construction maintenance.

   • Notes: Explore partnerships with large contractors for subcontracting opportunities. Focus on areas like HVAC installation, electrical systems, and maintenance contracts.

3. Smart Traffic Solutions

   • Opportunity: The government’s focus on reducing road fatalities with smart traffic systems opens opportunities for MEs to provide services like installing and maintaining intelligent traffic cameras, e-ticketing systems, and electronic speedometers.

   • Notes: Collaborate with technology providers to import and integrate solutions. Offer bundled installation and maintenance services to municipalities.

Large Enterprises (LEs)

1. Renewable Energy Manufacturing

   • Opportunity: With the focus on reducing energy costs and environmental impact, there’s an opportunity to establish a manufacturing facility for solar panels, batteries, or wind turbines.

   • Notes: Partner with international technology providers to establish facilities in Guyana, leveraging government incentives and the growing energy market.

2. Healthcare Infrastructure Development

   • Opportunity: The expansion of regional hospitals and nursing schools provides significant opportunities for LEs to offer end-to-end healthcare infrastructure solutions, including advanced diagnostic equipment, IT systems, and staff training.

   • Notes: Explore partnerships with healthcare technology companies to introduce state-of-the-art solutions. Bidding for long-term operational management contracts can ensure steady revenue streams.

3. Waste Management and Environmental Services

   • Opportunity: With increased infrastructure development and urbanization, demand for solid waste management and eco-friendly waste disposal solutions will rise.

   • Notes: Offer comprehensive waste collection, processing, and recycling services. Establish public-private partnerships to integrate with government urban beautification projects and build waste-to-energy facilities.

Cross-Sector Notes

1. Leverage Government Incentives: Align with government initiatives like tax breaks or subsidies for healthcare, energy, and transportation sectors.

2. Explore PPPs (Public-Private Partnerships): Many infrastructure projects will rely on collaborations between private enterprises and the government. Build relationships with key stakeholders to secure contracts.

3. Adopt Technological Innovations: Integrate smart solutions in every opportunity, such as IoT devices for traffic systems, AI in waste management, or blockchain for logistics transparency.

These opportunities cater to diverse enterprise sizes, aligning with Guyana’s development trajectory and maximizing the benefits of today’s transformative news.

Side Hustle Ideas Based On Today’s Developments

1. Professional Car Detailing and Ceramic Coating Services

• Opportunity: With Guyana's rapidly growing economy, more people are purchasing high-end vehicles. These vehicle owners often seek professional maintenance and detailing services to protect their investments.

• Execution:

  • Invest in a starter car detailing kit and ceramic coating materials.

  • Market services through social media platforms like Instagram and Facebook, showcasing before-and-after images.

  • Offer mobile detailing to busy customers who prefer on-site services.

• Why It Works: With minimal upfront costs and a high potential for repeat business, car detailing is a lucrative side hustle. The service appeals to both new vehicle owners and businesses with fleet vehicles.

2. Virtual Administrative or Bookkeeping Services

• Opportunity: Small and medium-sized businesses in Guyana often need help with managing their administrative tasks, particularly as the economy expands and local entrepreneurs grow.

• Execution:

  • Offer part-time bookkeeping, scheduling, or customer support services.

  • Get certified in basic accounting software like QuickBooks or Microsoft Excel through online courses.

  • Market services to small businesses that can’t afford full-time administrative staff but need professional support.

• Why It Works: With the growth in small enterprises, virtual administrative support is in high demand, allowing flexibility and a steady income stream without requiring significant capital.

3. Drone Videography and Photography for Real Estate and Tourism

• Opportunity: The rise in real estate development and tourism in Guyana creates a demand for high-quality promotional content showcasing properties, landscapes, and attractions.

• Execution:

  • Invest in an entry-level drone with a good camera.

  • Offer aerial photography and videography to real estate agents, property developers, and tourism operators.

  • Use platforms like Instagram or YouTube to showcase your portfolio and attract clients.

• Why It Works: Drone services are niche but increasingly essential for marketing in real estate and tourism, both of which are booming sectors in Guyana. The investment in a drone pays off quickly with high rates per project.

Why These Ideas Stand Out

• Market Fit: Each idea addresses a specific need in Guyana's growing economy, from real estate marketing to vehicle maintenance and business support.

• High Value: These ideas leverage skills or equipment to offer premium services with high profit margins.

• Flexibility: Ideal for individuals balancing full-time jobs while pursuing extra income opportunities.

These side hustles tap into lucrative and under-served markets in Guyana, ensuring both demand and profitability.