World Bank Approves Funding for Guyana’s Renewable Energy Push

The World Bank has approved a $30 million loan to Guyana as part of a $131.87 million regional project aimed at expanding renewable energy and improving energy efficiency across Guyana, Grenada, and Saint Lucia. The plan includes retrofitting 500 public buildings with energy-efficient upgrades and installing solar panels, cutting energy use by at least 20%. The project will also help develop policies for electric vehicles and solar net billing, positioning Guyana for a low-carbon future while reducing reliance on imported fossil fuels.

CARICOM to Review Telecom Industry Amid Billion-Dollar Revenue Leak

CARICOM is launching a comprehensive review of the region’s telecommunications landscape, following concerns that major telecom entities earn up to $11.6 billion annually without paying taxes. Led by the Prime Minister of Grenada, the initiative will explore policy changes to create a fairer, more competitive market that benefits consumers and local providers.

Business Opportunities Based On Today’s Developments

Small Enterprises (SMEs)

1. GPS and Fleet Tracking Services for Businesses and Government Agencies

   • Opportunity: The government is investing $2 billion into fleet expansion and digitization for the Guyana Police Force (GPF), incorporating GPS mapping and tracking. This signals a broader move towards accountability and efficiency.

   • Business Idea: A small business can provide affordable GPS tracking solutions for private companies, logistics providers, and other government agencies looking to improve vehicle management.

   • Notes: The market could include taxi services, delivery businesses, and private security firms that require real-time tracking.

2. Telecom Regulatory Compliance and Consultation Services

   • Opportunity: CARICOM is reviewing the regional telecommunications landscape to enforce tax contributions and create a fairer competitive environment. Businesses will need expert guidance to navigate new regulations.

   • Business Idea: A small enterprise offering consultancy on telecom regulations, compliance strategies, and digital taxation could thrive.

   • Notes: This service could be extended to VoIP providers, content platforms, and digital marketers operating in the Caribbean.

3. STEM Education and Digital Literacy Training

   • Opportunity: Scotiabank is investing over $6.6M in STEMGuyana’s Learning Pods initiative, emphasizing digital and financial literacy.

   • Business Idea: A small business can develop STEM education workshops, coding bootcamps, and financial literacy programs targeting schools and businesses.

   • Notes: With a focus on underserved communities, partnerships with NGOs and corporate sponsors could be key revenue drivers.

Medium Enterprises

1. Cybersecurity & Data Protection Services for Financial Institutions and Law Firms

   • Opportunity: The Calvin Brutus case highlights growing scrutiny over financial transactions and record-keeping. As digital audits and financial investigations become more common, data security will be a priority.

   • Business Idea: A cybersecurity firm that provides data encryption, anti-fraud measures, and digital forensic services to banks, law firms, and businesses handling sensitive data.

   • Notes: Partnerships with auditing firms and law enforcement agencies could provide a steady client base.

2. Vocational Training Partnerships for Mining & Industrial Workforces

   • Opportunity: BIT and GMIN Ventures are launching technical and vocational training programs for Region 7, aiming to certify 1,500 workers for a US$1.5B gold mining project.

   • Business Idea: A vocational training center that offers certifications for high-demand industrial skills such as welding, heavy machinery operation, and electrical engineering.

   • Notes: This could scale into partnerships with other extractive industries like oil and gas.

3. Manufacturing & Supply of Protective Gear and Equipment for Heavy-Duty Trucking & Roadworks

   • Opportunity: Authorities are cracking down on safety violations among heavy-duty trucks transporting materials along highways, with increased enforcement.

   • Business Idea: A business supplying and maintaining safety gear such as tarpaulins, heavy-duty truck covers, dust control systems, and high-visibility signage.

   • Notes: An additional revenue stream could include training services for drivers and compliance workshops.

Large Enterprises

1. Telecommunications Infrastructure Investment & Localized Content Platforms

   • Opportunity: CARICOM is reviewing the region’s telecom landscape, with concerns over global platforms earning billions while paying no taxes.

   • Business Idea: A large enterprise could invest in regional data centers, localized cloud services, or a homegrown digital content distribution platform that ensures regional economic benefits.

   • Notes: There is potential for a CARICOM-backed initiative to create a region-specific streaming service or digital marketplace.

2. Mass Housing Development & Smart Infrastructure Solutions

   • Opportunity: The government is pushing to distribute 15,000 housing lots by July and aims for 50,000 within five years. Infrastructure development and land acquisition are ongoing challenges.

   • Business Idea: A real estate and infrastructure development company specializing in smart, sustainable housing projects with prefabricated construction to meet demand quickly.

   • Notes: A partnership with the government to integrate smart grids, solar energy, and efficient drainage systems could differentiate offerings.

3. Advanced Industrial Logistics & Supply Chain Management for Gold & Mining Sector

   • Opportunity: The US$1.5B gold mining project in Region 7 will produce 350,000 ounces of gold annually by 2027, requiring significant logistical support.

   • Business Idea: A large enterprise could establish a mining-specific supply chain network, including transportation, warehousing, and specialized equipment leasing.

   • Notes: Expansion into Guyana’s oil and gas sector could further strengthen the business case, with integrated supply chain services for both industries.

Final Thoughts

• For SMEs, digital transformation and education-related services are strong opportunities, given the push for STEM and government investments in fleet tracking.

• For Medium Enterprises, safety, compliance, and industrial training present scalable business ideas tied to Guyana’s expanding extractive industries.

• For Large Enterprises, telecom reform, smart city infrastructure, and logistics for mining and oil present billion-dollar opportunities in a rapidly developing economy.

Side Hustle Ideas Based On Today’s Developments

1. Short-Term Vehicle Rentals for Business Travelers & Expats

Why It Works:

• Business travel to Guyana is increasing due to the oil and gas industry, and many visitors prefer short-term car rentals instead of buying or leasing vehicles.

• Expats and professionals working on contracts often need transportation for a few days or weeks.

• Ride-sharing apps like Uber are absent in Guyana, making flexible rental options highly valuable.

How It Works:

• If you own a reliable vehicle, rent it out short-term (daily or weekly) to visiting business professionals.

• Market via LinkedIn, expat Facebook groups, WhatsApp business groups, and hotels.

• Charge a daily rental fee of $10,000 - $25,000 GYD depending on the vehicle type.

• Offer optional add-ons like a local SIM card, airport pickup, or chauffeur service for an additional fee.

Scalability:

• Expand by renting additional vehicles or partnering with others who want to lease their cars.

• Develop a small fleet of vehicles catering to business travelers, engineers, and consultants.

• Integrate a simple booking system via WhatsApp or a basic website for easy reservations.

2. High-End Mobile Coffee Service for Offices & Construction Sites

Why It Works:

• There is a growing demand for high-quality coffee among Guyanese professionals, oil workers, and corporate office employees.

• Many offices, construction sites, and industrial zones don’t have convenient access to premium coffee.

• The airport and commercial hubs lack consistent mobile coffee vendors, presenting a niche opportunity.

How It Works:

• Start with a high-quality portable espresso machine and a simple coffee cart or insulated coffee dispensers.

• Target high-traffic locations like office buildings, construction sites, and morning commuter hubs.

• Offer premium coffee (hot and iced), along with quick breakfast snacks like pastries and sandwiches.

• Charge $1,500 - $3,500 GYD per cup, positioning yourself as a high-end alternative to instant coffee.

Scalability:

• Expand by hiring a delivery assistant and accepting bulk corporate orders.

• Partner with office managers to set up a daily delivery subscription model for teams.

• Later, transition into a full brick-and-mortar specialty coffee shop or franchise.

3. Specialized Food Prep & Packaging for Exporters and Farmers

Why It Works:

• Guyana is expanding its agriculture and export sectors, and small farmers and food processors need help with product preparation.

• Many local food producers don’t have the time or equipment to properly clean, peel, dry, or package their products for sale.

• Exporting value-added products (such as dried fruits, coconut products, and packaged sauces) is growing, but small businesses lack processing support.

How It Works:

• Offer a food preparation and packaging service for small farmers and food vendors.

• Invest in a basic commercial dehydrator, vacuum sealer, and slicer to process items like fruits, spices, and seafood.

• Charge per batch ($5,000 - $10,000 GYD) to clean, cut, and package fresh or dried food for sale.

• Target businesses looking to export Guyanese-made products to regional and international markets.

Scalability:

• Grow by setting up a small processing facility and hiring additional workers.

• Partner with established exporters to handle bulk orders.

• Expand into a co-packing service where small food brands can use your facility to meet export standards.

Final Thoughts

These side hustles capitalize on Guyana’s economic expansion, focusing on industries with long-term growth potential.

• Vehicle Rentals for Business Travelers require minimal effort and can generate passive income.

• High-End Mobile Coffee Service taps into the growing demand for quality food and beverages in the workplace.

• Specialized Food Prep for Exporters aligns with Guyana’s push to increase value-added agricultural products.

Each idea starts small but has significant scalability, making them ideal for professionals looking to build extra income streams while keeping their full-time jobs.