Against the backdrop of the June 27 United Nations-designated Micro-, Small and Medium-sized Enterprises Day the Guyanese-American Chamber of Commerce says in a media release that both the Guyana and United States governments must seek to enhance their efforts to nurture micro-, small and medium-sized enterprise development. Simultaneously, the Chamber is also calling on commercial banks and other financial institutions to “support the strengthening of the systemic productive capacities among small businesses through the provision of concessional financing.”
Noting that this year United Nations Micro-, Small and Medium-sized Enterprises Day is being commemorated against the backdrop of the advent of the global Covid-19 pandemic, the statement noted that these enterprises account for more than 90% of all businesses and around 70% of jobs worldwide and that, accordingly, these play “a pivotal role in stimulating economic growth and providing employment for vulnerable groups such as women, young entrepreneurs, and poor communities.”
