Go-Invest Assists 137 Local Companies in Entering Export Markets

Guyana's Office for Investment (Go-Invest) has expanded its role in promoting locally manufactured products, helping 137 companies break into export markets over the past four years. The agency has set up a Technical Trade Department and Expanded Promotion Division to raise the international profile of Guyanese goods, particularly through initiatives like the "Made in Guyana" certification. Collaborations with organizations such as the New Guyana Marketing Corporation and Caribbean Export have boosted these efforts. Additionally, Go-Invest has supported businesses with market research, export readiness training, and connections to overseas buyers, with recent success stories including the export of Savannah Milk to Barbados. This initiative aligns with Guyana's broader goal of diversifying its economy and growing its non-oil sectors, as the country's manufacturing and agricultural industries have shown remarkable resilience and growth, contributing to its rise as a regional economic powerhouse.

Seabob Value Chain Workers Trained in Food Handling and Safety

In a bid to enhance food safety and quality standards in Guyana's seabob (shrimp) industry, the Food and Agriculture Organization (FAO) and the Caribbean Regional Fisheries Mechanism (CRFM) conducted a "Training of Trainers" workshop. The two-day event focused on improving food handling, safety, and hazard control, preparing workers in the seabob value chain to meet international market requirements. Seabob is one of Guyana’s leading exports, and the training is part of the FISH4ACP initiative, which is supported by the European Union. This initiative aims to enhance food safety standards and occupational safety in the fisheries sector.

Business Opportunities Based On Today’s Developments

1. Small Enterprises (SEs)

1.1 Export-Ready Niche Products

Go-Invest has already assisted 137 local companies in entering export markets. This shows there is active demand for Guyanese products abroad, and local companies have successfully penetrated these markets. The key takeaway is that there’s a growing export infrastructure and support network for small businesses, with an emphasis on "Made in Guyana" products.

• Opportunities:

  • Handcrafted Goods & Cultural Products: Small businesses can produce unique Guyanese cultural goods such as artisanal crafts, jewelry, and textiles that appeal to the international market. These could leverage the "Made in Guyana" certification, which increases credibility and appeal abroad.

  • Organic and Health-Conscious Products: There’s rising global demand for health-conscious and natural products, such as organic honey, teas, or eco-friendly packaging made from local materials. Small producers should consider exporting these products, given the success of other businesses that Go-Invest has already assisted.

  Notes: SEs should focus on quality and international compliance for packaging and labeling to meet export standards. They can tap into the existing export programs and network facilitated by Go-Invest.

1.2 Fire Safety Equipment Sales and Services

Following the devastating Puruni Landing fire, there is an increased focus on fire safety measures, both for homes and businesses in Guyana. This opens up opportunities for small businesses to supply fire safety equipment or offer fire prevention services.

• Opportunities:

  • Sales of Fire Extinguishers and Safety Gear: A small business could specialize in selling fire extinguishers, smoke detectors, sand buckets, and other essential fire prevention tools. Marketing these products to households, businesses, and mining areas (like Puruni) could be lucrative.

  • Fire Safety Audits and Training: Offer fire safety consultancy services, providing risk assessments, safety audits, and training for businesses and communities. There's a need for education around fire prevention in areas vulnerable to fires like mining locations.

  Notes: Partner with local fire departments or NGOs to provide community outreach and training sessions, which would not only drive sales but also create positive brand recognition.

1.3 Vocational Skills Training Centers

With over 12,000 people trained in technical and vocational skills by the government, including trades like welding, electrical installation, and plumbing, there is a clear demand for skill development. As the infrastructure and housing sectors grow rapidly, the need for a skilled workforce will continue to rise.

• Opportunities:

  • Vocational Training Institutes: Small businesses can set up specialized training centers in underserved areas, offering certifications in these high-demand trades. There is a clear need for electricians, plumbers, and welders, especially with large-scale infrastructure projects underway.

  • Subcontractor Services: Small enterprises can hire graduates from vocational training programs and offer subcontractor services to larger construction companies working on public infrastructure projects, such as the new hospitals or sports complexes.

  Notes: By focusing on high-demand sectors (such as construction, home renovations, and renewable energy), these businesses can build a pipeline of talent for larger enterprises while generating steady income.

2. Medium Enterprises (MEs)

2.1 Logistics, Packaging, and Export Support Services

Go-Invest has already helped 137 local companies connect with international markets, and there’s a growing need for logistics, packaging, and export facilitation services. Medium-sized enterprises can cater to this demand by offering specialized services for export readiness, freight, and product distribution.

• Opportunities:

  • Export Packaging Solutions: Set up a company specializing in export-grade packaging, ensuring products meet international standards. This could include services such as sustainable packaging solutions, custom labeling, and compliance with overseas regulatory frameworks.

  • Logistics and Freight Services: Provide freight forwarding and logistics services to small and medium businesses exporting products. With partnerships such as the one between Go-Invest and Suriname Airways/Tropical Shipping, medium-sized companies could help consolidate shipments, reducing freight costs for smaller producers.

  Notes: Focus on high-volume products with export potential, such as agro-processed goods and manufactured items. Partner with businesses in need of a reliable logistics and export partner to scale operations.

2.2 Healthcare Construction Support

The government has issued a tender for the construction of a new state-of-the-art West Demerara Regional Hospital, and other healthcare infrastructure projects are underway. Medium enterprises can tap into this by offering specialized contracting, building materials, and equipment rental services.

• Opportunities:

  • Construction Subcontracting: Provide skilled labor and contracting services for specific parts of the hospital construction, such as electrical systems, HVAC installation, plumbing, and medical infrastructure setup.

  • Equipment Leasing: Set up a business that leases specialized construction equipment like cranes, earth-moving machines, and scaffolding to larger contractors building healthcare and other public infrastructure projects.

  Notes: Consider developing long-term relationships with government contractors and private builders, offering tailored service packages for multiple upcoming infrastructure projects across Guyana.

2.3 Sports Tourism Services

Region 10 is becoming a hub for sports tourism, with the completion of new sports facilities, such as the synthetic track at Bay Rock and the Mackenzie Sports Complex renovation. Medium-sized businesses can capitalize on this by offering tourism-related services that cater to both local and international sports visitors.

• Opportunities:

  • Sports Tour Packages: Organize and promote tour packages that include accommodation, transport, and event attendance for international sports teams and tourists. This could be extended to cover hospitality services for athletes and fans during major events.

  • Event Planning and Management: Start a business that specializes in the planning and execution of sports events, handling logistics, marketing, and hospitality for local and international competitions hosted at the new facilities.

  Notes: Form partnerships with local hotels, airlines, and restaurants to provide comprehensive travel and hospitality solutions for sports tourism in Region 10.

3. Large Enterprises (LEs)

3.1 Large-Scale Agro-Processing and Export

Given the rise of non-oil exports and the success of agro-processors like Savannah Milk, large enterprises have the opportunity to invest in large-scale agro-processing facilities. With Go-Invest helping many companies succeed in export markets, this is the time to scale up production and enter larger international markets.

• Opportunities:

  • Agro-Processing Factories: Invest in high-capacity factories focused on exporting processed agricultural products like coconut oil, rice-based products, and natural sweeteners. This is a natural extension of Guyana’s agricultural strength and its export success stories.

  • Vertical Integration: Large enterprises can invest in vertical integration by partnering with local farmers to secure raw materials and streamline production for export markets.

  Notes: The government’s favorable investment climate for manufacturing and agro-processing provides an excellent opportunity for long-term growth. Explore strategic partnerships with international distributors.

3.2 Healthcare Infrastructure Investment

With new hospitals being developed, including the West Demerara Regional Hospital, there is an opportunity for Public-Private Partnerships (PPPs) or direct investment in healthcare facilities and services. Large enterprises can help shape the healthcare infrastructure boom in Guyana.

• Opportunities:

  • Hospital Construction and Management: Large enterprises can bid on government contracts to construct and manage healthcare facilities. Once operational, businesses could also supply these hospitals with cutting-edge medical equipment, pharmaceuticals, and management services.

  • Private Healthcare Networks: In parallel with public sector projects, large enterprises could establish private hospitals or specialized healthcare facilities in urban centers, catering to higher-end clientele and medical tourism.

  Notes: The government’s push for healthcare improvements and modernization offers a lucrative sector for large enterprises willing to invest in Guyana’s health sector.

3.3 Sports Facility Management and Sponsorship

With the government focusing on sports tourism in Region 10, large enterprises could play a key role in the development and management of sports complexes, as well as corporate sponsorships for international events hosted in Guyana.

• Opportunities:

  • Sports Facility Development and Management: Large enterprises can invest in building and managing new sports stadiums or training centers, positioning them as venues for both local and international events. This could extend to sponsorship and branding partnerships.

  • Corporate Sponsorships for Sports Events: Sponsor major regional and international sports events, gaining brand visibility while promoting sports tourism. These partnerships could include everything from hospitality to media coverage deals.

  Notes: Sports tourism is set to grow, and large enterprises can capitalize on this trend by investing early and becoming key players in the industry’s expansion.

Conclusion

Today's developments highlight significant business opportunities in export markets, infrastructure development, healthcare, and tourism in Guyana. Small enterprises should focus on niche export products, fire safety equipment, and vocational training, while medium enterprises can provide export logistics, construction support, and sports tourism services. Large enterprises have the chance to lead in large-scale agro-processing, healthcare infrastructure, and sports facility development. By capitalizing on these opportunities, businesses of all sizes can thrive in Guyana’s booming economy.

Side Hustle Ideas Based On Today’s Developments

1. Export-Ready Artisanal Products & Crafts

With Go-Invest’s success in helping 137 local companies enter export markets, there’s a clear demand for unique Guyanese-made products abroad. Crafting and selling high-quality artisanal goods could be a lucrative side hustle for those with a creative flair. Items like handwoven baskets, pottery, jewelry, and locally inspired home décor could appeal to the international market.

• Why it works: Guyana’s rich cultural heritage and access to natural materials make artisanal crafts appealing to overseas buyers, especially in the tourism and fair-trade sectors. Plus, the “Made in Guyana” certification boosts credibility.

• Investment: Low. Most of the materials can be sourced locally, and platforms like Etsy or social media can help small producers reach global markets.

• Key Consideration: Tap into the Go-Invest export support and make sure to develop packaging and branding that meet international standards.

2. Fire Safety Equipment Retailer or Installer

Following the Puruni Landing fire and the government’s increased focus on fire prevention, there’s a growing demand for fire safety tools like fire extinguishers, smoke detectors, and basic fire prevention systems in both residential and commercial spaces.

• Why it works: Fire safety awareness is becoming more critical, especially in mining areas and urban businesses. There’s likely a gap in the market for affordable and accessible fire safety equipment and services, especially for households and small businesses.

• Investment: Moderate. You’d need to purchase a small initial stock of fire safety equipment. Installation services can be an add-on to generate extra income.

• Key Consideration: Partner with government programs or mining companies to offer packages, including installation services or training for fire safety compliance.

3. Vocational Skills Training

With the TVET certification program producing a new skilled workforce and the country’s continued focus on infrastructure development, there is an increasing need for upskilling and vocational training in fields like plumbing, electrical installation, and welding.

• Why it works: As the demand for construction, energy, and infrastructure projects grows, workers will need to continuously upgrade their skills to stay competitive. Offering part-time classes or weekend workshops in these trades can tap into this growing need.

• Investment: Low to moderate. You can start by partnering with existing institutions or renting space to conduct evening or weekend classes. Alternatively, you could work as a mobile trainer, providing on-site training in regions where infrastructure projects are growing.

• Key Consideration: Focus on short-term certifications or hands-on workshops that workers can attend without sacrificing their regular jobs.