Electric Vehicle Market Grows in Guyana; UNDP Funds Solar Charging Stations

Guyana is steadily transitioning towards a greener economy, with over 220 electric vehicles (EVs) imported in the past five years. Chief Executive Officer of the Guyana Energy Agency (GEA), Dr. Mahender Sharma, noted that incentives such as tax exemptions and depreciation allowances are driving EV adoption. However, the limited number of charging stations remains a challenge. To address this, the United Nations Development Programme (UNDP) has allocated $250,000 to fund three new solar-powered EV charging stations in Georgetown. These stations will improve accessibility and further reduce the country’s carbon footprint.

Excel Guyana Launches Strategic Advisory Services for Investors

Excel Guyana Inc. has introduced its Strategic Advisory Services, aimed at supporting investors and facilitating economic development in Guyana. The services include company formation, compliance, market analysis, regulatory strategy, investment sourcing, and mergers and acquisitions. With increasing international interest in Guyana’s economy, the initiative seeks to provide expert guidance to businesses navigating the country’s investment landscape. Excel Guyana’s leadership emphasized their commitment to bridging gaps for investors, particularly those from Latin America, by offering advisory services in Spanish, Portuguese, and English.

Business Opportunities Based On Today’s Developments

Small Enterprises (SE)

1. Electric Vehicle (EV) Charging and Maintenance Services

   • With the rise of electric vehicles in Guyana and the government’s push for solar-powered charging stations, there is a growing need for EV maintenance and charging services.

   • A small business could start with mobile EV charging units, home charging station installations, or specialized EV maintenance services.

   • Key Consideration: Training for mechanics is becoming available through UNDP initiatives—early adopters of this skill set could dominate the market.

2. Agro-Processing & Packaged Goods for the Energy Conference Market

   • The Conference Village at the Guyana Energy Conference presents an opportunity for small-scale agro-processors to connect with international buyers.

   • Entrepreneurs could develop packaged, export-ready products such as dried fruits, organic teas, or Guyanese spice blends to showcase at future conferences.

   • Key Consideration: Investing in proper packaging and branding will be crucial for attracting international buyers.

3. Local Cemetery Maintenance & Landscaping Services

   • The government is investing $1.3 billion to rehabilitate Le Repentir Cemetery, and small businesses could secure contracts for landscaping, tombstone restoration, and maintenance services.

   • A small enterprise could offer premium services such as headstone cleaning, flower placement subscriptions, and guided heritage tours.

   • Key Consideration: The government is prioritizing local contractors—networking with city officials could provide a competitive edge.

Medium Enterprises (ME)

1. Importation & Retail of Electric Vehicles (EVs)

   • With over 220 EVs imported in the last five years and tax exemptions in place, there is a growing market for EV dealerships.

   • A business could focus on importing mid-range EVs, offering financing options, and bundling purchases with home charging stations.

   • Key Consideration: Partnering with international manufacturers could provide exclusive distribution rights in Guyana.

2. Specialized Food & Beverage Services for International Conferences

   • The Guyana Energy Conference draws over 4,000 attendees annually, including international investors, creating a demand for premium catering and hospitality services.

   • A medium-sized business could specialize in providing high-end catering, pop-up fine dining experiences, or executive hospitality services tailored for large corporate events.

   • Key Consideration: Securing vendor partnerships with major conference organizers will provide repeat business.

3. Construction & Infrastructure Support for New Foreign Bank Entrants

   • As foreign banks eye expansion into Guyana, there will be increased demand for commercial office space tailored to international financial institutions.

   • A medium-sized construction firm could focus on outfitting office spaces with high-security features, tech-enabled banking solutions, and compliance-driven designs.

   • Key Consideration: Understanding financial institution regulations and security requirements will be key to securing these contracts.

Large Enterprises (LE)

1. Investment in Large-Scale EV Charging Infrastructure

   • With new UNDP-funded solar-powered charging stations being developed, a large enterprise could establish a national EV charging network, partnering with government and corporate fleets.

   • This could involve rapid-charging hubs along major highways, fleet-charging stations for logistics companies, and high-end charging stations with customer lounges.

   • Key Consideration: Long-term profitability will depend on scaling efficiently and securing corporate partnerships with transport and ride-hailing companies.

2. Private Equity & Venture Capital for Guyana’s Financial Expansion

   • The Financial Institutions Amendment Bill is paving the way for foreign banks to enter Guyana, presenting an opportunity for large enterprises to launch investment funds targeting high-growth sectors.

   • A financial firm could set up private equity or venture capital funds focusing on infrastructure, energy, or fintech solutions that align with Guyana’s evolving economy.

   • Key Consideration: Early engagement with foreign banks will position firms to act as financial intermediaries for international investors entering Guyana.

3. Luxury Hospitality & Business Accommodation for Foreign Investors

   • With increased foreign investment, there will be rising demand for premium business accommodations, high-end serviced apartments, and corporate event spaces.

   • A large enterprise could develop a luxury hotel or executive residency tailored to visiting investors, government officials, and conference attendees.

   • Key Consideration: Aligning with the government’s investment strategies and securing land in strategic locations will be crucial for long-term viability.

Final Thoughts

• Small Enterprises should focus on niche, high-growth areas with lower capital investment, such as services supporting EV adoption and agro-processing for international markets.

• Medium Enterprises have opportunities in high-demand areas such as food and hospitality for conferences, mid-tier EV distribution, and commercial real estate solutions.

• Large Enterprises can capitalize on Guyana’s financial expansion and infrastructure developments, focusing on large-scale investments in banking, hospitality, and energy solutions.

By strategically aligning business models with these emerging trends, enterprises of all sizes can capitalize on Guyana’s rapid economic transformation.

Side Hustle Ideas Based On Today’s Developments

1. Electric Vehicle (EV) Charging Solutions & Mobile Charging Service

• Opportunity: With over 220 EVs imported in the past five years and government-backed initiatives to expand charging stations, demand for EV charging solutions is growing.

• Side Hustle Concept: Individuals can set up home-based or small-scale EV charging stations in underserved areas. A mobile EV charging service using portable battery packs or generator-backed charging units could also be lucrative, particularly in regions with few charging points.

• Investment Required: Medium (GYD $1M–$2M for charging equipment); Low-cost options include renting space for a basic charging setup.

• Potential Customers: Business professionals, taxi drivers, ride-sharing services, and logistics companies transitioning to EVs.

• Scalability: Can expand into maintenance and repair services as the market grows.

2. Agro-Processed Snack Manufacturing & Export

• Opportunity: The Guyana Energy Expo’s Conference Village highlights the government’s push for agriculture and agro-processing. The oil boom has also increased disposable income, leading to higher demand for locally made, premium snacks.

• Side Hustle Concept: Start a small-scale dehydrated fruit snack or spiced nut production business using locally available crops like plantains, pineapples, and coconut. Market them as healthy, convenient snacks for professionals, gym-goers, and tourists.

• Investment Required: Low to Medium (GYD $500K–$1.5M for food dehydrators, packaging, and branding).

• Potential Customers: Local supermarkets, airport shops, hotels, and restaurants; potential for exports to the Caribbean and Latin America.

• Scalability: Can evolve into a full-fledged food processing brand, offering organic and specialty products.

3. Corporate & Government Procurement Services

• Opportunity: With foreign banks entering Guyana and increased infrastructure investments (e.g., the Le Repentir cemetery rehabilitation and electric vehicle charging stations), government agencies and corporations will require reliable suppliers.

• Side Hustle Concept: Act as a procurement broker—sourcing, supplying, and delivering office supplies, construction materials, or event logistics for government tenders and businesses.

• Investment Required: Low (GYD $200K–$500K for business registration, networking, and an initial stock of supplies).

• Potential Customers: Local government agencies, banks, corporate offices, and event organizers.

• Scalability: Can grow into a full-service business-to-business (B2B) logistics and supply chain company.

Conclusion

All three side hustles align with Guyana’s rapid economic expansion and emerging market demands. Each offers a low-to-medium barrier to entry while providing scalability and long-term business potential.