As COVID-19 persists, small and micro businesses in Guyana continue to be particularly vulnerable to the impacts its effects. Many of them are, in the first instance, structurally fragile, lacking the resilience to withstand a shock of this nature, given the fact that they run on the sole engine of day to day turnover.
Reduced and more selective consumer spending have led, in an overwhelming number of instances, to significantly diminished revenues and consequential serious liquidity crises. To these must be added the fact that there has been no meaningful state-sponsored support designed to keep these businesses buoyant during the prolonged crisis period. Vastly reduced and in many instances vanished earnings and attendant liquidity crises, reduced production and in many instances complete shutdowns and compulsory layoffs are now commonplace among local micro- and small-business enterprises.
The Stabroek Business’ research has indicated that the vast majority of these enterprises are involved in agriculture, agro-processing, small-scale vending, and public transportation, and that they account for the vast majority of the informal economy. More significantly, women, who have increasingly become the breadwinner in Guyanese families are at the forefront of a significant number of these micro and small enterprises.
