SBB Expands Green Technology Fund for Small Businesses

The Small Business Bureau (SBB) is planning to increase the size of grants available through its Green Technology Fund, which supports eco-friendly innovation among small businesses. Since its inception in 2019, the fund has benefitted 40 businesses, with 12 more set to receive grants this year. CEO Mohamed Shazim Ibrahim emphasized the importance of fostering business ideas that address environmental challenges, aligning with Guyana’s Low Carbon Development Strategy. As Guyana works toward reducing its fossil fuel use by 50% by 2025, the fund aims to support sustainable business models, particularly those in green energy and environmental conservation.

Local Artistes Call for Stronger Copyright Laws Amid Lawsuit Against Major Telecom

Guyanese musicians are renewing their calls for stronger copyright laws after a high-profile lawsuit was filed by singers Jackie Jaxx and D’Ivan against One Communications (Guyana) and fellow artist NEKEITA. The lawsuit claims unauthorized use of their songs during a corporate rebranding event, highlighting the inadequacies of Guyana’s outdated Copyright Act, which dates back to 1966. The artists are pushing for modern legislation that would offer better protection and ensure fair compensation when their work is used, particularly on radio stations. This case has reignited the debate on intellectual property rights in the creative industry, with musicians and legal experts advocating for urgent legislative reform to protect creators' livelihoods.

Business Opportunities Based On Today’s Developments

Small Enterprises

1. Copyright & Intellectual Property Consulting

   • Opportunity: With the growing conversation around outdated copyright laws in Guyana, there is an immediate need for services that help creatives protect their intellectual property.

   • Business Idea: Offer affordable, small-scale copyright consulting, registration services, and legal advice tailored to musicians, artists, and other creators. This can be a freelance or boutique legal firm targeting the creative industry.

   • Note: You could also partner with local artists to manage their royalties, distribution rights, and licensing arrangements for radio stations and streaming platforms.

2. Safe Homes & Temporary Shelters

   • Opportunity: The Ministry of Human Services is expanding its network of safe homes for victims of violence.

   • Business Idea: Small enterprises could partner with the government to manage or lease properties that could serve as temporary shelters. Providing ancillary services like food, laundry, or counseling at these shelters could also be explored.

   • Note: This could involve repurposing unused residential properties and working closely with the Ministry to provide a needed service.

3. Green Tech Solutions for Small Businesses

   • Opportunity: The Small Business Bureau’s Green Technology Fund is set to increase grants for businesses focused on eco-friendly innovations.

   • Business Idea: Small businesses can explore solutions like solar energy installation, waste recycling systems, or water conservation products targeting homes or small farms. Affordable solutions that address local environmental challenges can be proposed to qualify for grants.

   • Note: This is a great time to pitch low-cost, high-impact green tech solutions, particularly in rural areas or regions where the government is expanding solar and hydroelectric projects.

4. Freelance Procurement Compliance Services

   • Opportunity: With Vice President Jagdeo's focus on procurement compliance, there is an immediate demand for experts who can ensure that small businesses align with the country's procurement laws.

   • Business Idea: Small businesses could provide procurement advisory services, specializing in guiding other businesses (especially SMEs) on how to comply with procurement standards, bid for public contracts, or avoid common procurement pitfalls.

   • Note: This could be especially relevant for startups or small contractors looking to secure government contracts for infrastructure projects.

Medium Enterprises

1. Sustainable Agriculture & Tech-Enabled Farming

   • Opportunity: President Ali’s call for a transformation in global food systems with technology presents an opportunity to introduce innovative farming practices.

   • Business Idea: Medium-sized businesses could invest in technology-driven solutions like smart farming equipment, crop monitoring sensors, or vertical farming. These can be marketed to local farmers, leveraging the government’s focus on poverty reduction through better food systems.

   • Note: You could also consider integrating climate-resilient farming solutions, which are aligned with the government’s Low Carbon Development Strategy (LCDS), thus potentially qualifying for green-tech grants.

2. Territorial Security and Surveillance Solutions

   • Opportunity: With the U.S. supporting Guyana's territorial integrity, there’s potential for investment in security technology and border surveillance.

   • Business Idea: A medium enterprise could develop or import advanced drone technology, remote surveillance systems, and satellite monitoring tools for securing border areas and assisting in regional security.

   • Note: Partnering with local law enforcement and military could open significant doors, especially considering the government’s focus on regional stability.

3. Affordable Housing Development for Shelter Programs

   • Opportunity: The Ministry of Human Services is expanding rent programs and shelters for victims of domestic violence.

   • Business Idea: Medium-sized real estate development firms could create modular, low-cost housing units to be used as shelters or temporary housing under government contracts. This can align with the government's social security initiatives while building a sustainable and scalable business.

   • Note: Focus on eco-friendly, quick-to-assemble housing that can be set up in underdeveloped or rural areas.

4. Supply Chain Management for Agro Exports

   • Opportunity: With a strong focus on food security and Guyana's push for transforming its agriculture sector, there is a growing need for more efficient agro-export supply chains.

   • Business Idea: Medium-sized enterprises can explore creating cold storage, packaging, and logistics solutions for exporting agricultural products like rice, sugar, and seafood to regional and international markets. Partner with farmers to provide end-to-end logistics support.

   • Note: Consider forming a cooperative with local farmers to offer shared logistics solutions to lower costs and improve efficiency.

Large Enterprises

1. Public Infrastructure Development (Roads & Energy)

   • Opportunity: The upcoming IDB-funded road rehabilitation projects (Good Success to Timehri) and the government’s push for climate-resilient infrastructure present large-scale business opportunities.

   • Business Idea: Large construction companies can bid for contracts related to road infrastructure projects, especially for rehabilitating and expanding major roadways and highways. The IDB funding aligns with Guyana’s climate goals, so infrastructure with a sustainable focus (e.g., solar-powered lighting) would be advantageous.

   • Note: Building expertise in climate-resilient infrastructure will position your business well as Guyana continues to diversify its energy sources.

2. Green Energy Investments

   • Opportunity: President Ali’s emphasis on energy needs and the government's LCDS presents massive opportunities in renewable energy.

   • Business Idea: Large enterprises can explore investments in large-scale solar farms, wind energy, and hydroelectric projects, such as the government’s plan for smaller hydroelectric plants in hinterland regions.

   • Note: The push towards reducing Guyana’s dependence on fossil fuels by 70% by 2030 makes this a ripe time to negotiate long-term energy contracts or public-private partnerships with the government.

3. Technology Solutions for National Security

   • Opportunity: With the U.S. backing Guyana on territorial integrity, the growing focus on regional and border security opens the door for advanced tech solutions.

   • Business Idea: Large enterprises can offer comprehensive national security technology, including surveillance systems, satellite communications, cybersecurity solutions, and artificial intelligence (AI) tools to monitor the borders and key national assets.

   • Note: Partnering with Guyana's government on military modernization and territorial security could provide long-term, lucrative contracts.

4. Procurement & Contract Management Software for Public Projects

   • Opportunity: With the government tightening procurement compliance, there is a massive opportunity to digitize the public procurement process.

   • Business Idea: Large software companies can develop or customize contract management platforms, compliance tracking tools, and bidding systems that streamline procurement for public sector projects. The solution could help prevent violations by ensuring transparency and compliance at every step.

   • Note: Focus on building a SaaS solution that government agencies can adopt, providing recurring revenue from subscription models.

5. Tourism & Eco-Tourism Ventures

   • Opportunity: The focus on Guyana’s biodiversity and pristine natural environment for eco-tourism remains strong, especially with growing international interest.

   • Business Idea: Large hospitality and tourism companies can develop eco-lodges, adventure tourism packages, and heritage tours that align with the country’s Low Carbon Development Strategy. Offer immersive experiences in Guyana’s rainforests, rivers, and indigenous communities.

   • Note: With the expansion of global green travel, eco-tourism businesses can thrive, particularly if they incorporate community-based tourism models.

Additional Notes:

• Partnerships: Across all business sizes, partnering with the government is critical as much of the development is state-led. Aligning with government goals (e.g., food security, green tech, infrastructure) will unlock both financial and bureaucratic support.

• Leverage Green Initiatives: Many of the emerging opportunities align with environmental goals. Whether small or large, businesses that build eco-conscious models will likely benefit from funding, partnerships, and global interest.

• Global & Regional Collaboration: Businesses, especially medium and large ones, should consider forming alliances with international organizations like the IDB or U.S. corporations to capitalize on opportunities related to territorial security, food systems, and sustainable energy.

By capitalizing on these developments, businesses of all sizes can position themselves to thrive in Guyana's rapidly evolving economy.

Side Hustle Ideas Based On Today’s Developments

1. Green Tech Installations for Homes and Small Businesses

   • Opportunity: With Guyana’s push towards green technology and climate resilience, individuals can tap into the growing demand for energy-efficient solutions.

   • Side Hustle: Offer small-scale solar panel installations, energy-efficient lighting systems, or water conservation solutions for homes and small businesses. Start as a certified installer or partner with green tech suppliers to provide installation services part-time.

   • Why It’s Valuable: As Guyana transitions away from fossil fuels, the government and private sector are increasingly investing in renewable energy solutions. People are looking to lower their energy costs, and this side hustle has the potential for long-term growth.

2. Procurement & Compliance Consulting for Small Contractors

   • Opportunity: With Vice President Jagdeo’s emphasis on strict procurement rules for public projects, there’s a growing need for compliance guidance.

   • Side Hustle: Start a part-time consulting service that helps small contractors, suppliers, and service providers navigate procurement regulations and submit compliant bids for government projects. Offer tailored advice on the necessary documentation, standards, and processes.

   • Why It’s Valuable: As Guyana’s public sector continues to invest in infrastructure and development, small businesses will seek affordable experts to help them win contracts. This side hustle leverages Guyana’s booming economy and need for transparency in procurement.

3. Intellectual Property (IP) Management for Creatives

   • Opportunity: With local artists pushing for stronger copyright laws, there is a gap in IP protection services in Guyana.

   • Side Hustle: Offer freelance intellectual property consulting, helping musicians, artists, and content creators protect and monetize their work. Services can include filing copyright claims, negotiating licensing deals, or managing digital rights.

   • Why It’s Valuable: With the growing creative scene and lack of robust IP infrastructure, this side hustle provides a much-needed service for artists and creators looking to safeguard their work and generate additional income streams.

These side hustle ideas leverage emerging trends in Guyana’s economy and require relatively low upfront investment, making them ideal for people with full-time jobs looking to supplement their income.