SBB, MoE launch new initiative to fund students’ business ideas

The Small Business Bureau (SBB), in collaboration with the Ministry of Education, has officially launched the Tertiary Entrepreneurship Award (TEA), a new initiative aimed at equipping young Guyanese with the skills, financing, and support needed to transform innovative ideas into viable businesses.

The programme will be rolled out across five tertiary institutions: Government Technical Institute, Guyana Industrial Training Centre, Carnegie School of Home Economics, Mahaicony Technical and Vocational Training Centre, and Leonora Technical and Vocational Training Centre.

Approximately 120 students between the ages of 18 and 26 are expected to benefit from this initiative, which represents a strategic investment of $6 million in youth entrepreneurship development.

Participants will receive training in key areas including Marketing Fundamentals, Financial Management and Record Keeping, Business Proposal Writing, and Small Business Management. Upon completion of the training, participants will be required to undertake an assessment. Those who successfully pass will receive a Certificate in Small Business Operations and will be given the opportunity to submit a business plan.

Submitted business plans will be evaluated, and the most viable proposals will be shortlisted.

Shortlisted participants will then receive targeted training in business pitch development and presentation skills to prepare them for the next stage of the programme. Following this, participants will present their business concepts before a panel of judges.

The top 15 participants will each be awarded a grant of $400,000 to support the development and implementation of their businesses.

In addition to financial support, awardees will benefit from ongoing business advisory services, technical guidance, and monitoring support from the Small Business Bureau to strengthen business performance and ensure long-term sustainability.

Deputy Chief Executive Officer of the Small Business Bureau, Simon Pollard, underscored the importance of investing in youth entrepreneurship.

“Youth entrepreneurship is critical to Guyana’s long-term economic growth and diversification. This initiative goes beyond financing. It is about equipping young people with practical skills, knowledge, and support systems required to build sustainable businesses. Through the Tertiary Entrepreneurship Award, we are creating opportunities for young innovators to contribute meaningfully to national development.”

Deputy Chief Education Officer (Technical), Ministry of Education, Dr. Ritesh Tularam, highlighted the importance of integrating entrepreneurship within the education system.

“This initiative reflects our commitment to ensuring that students are not only academically prepared, but also equipped with practical skills that enable them to create opportunities for themselves and others. By embedding entrepreneurship at the tertiary level, we are fostering innovation, critical thinking, and self-reliance among our young people.”

The Tertiary Entrepreneurship Award is aligned with the Government’s broader vision of promoting inclusive growth, economic diversification, and increased youth participation in the national economy. By addressing common barriers such as limited access to finance and entrepreneurial training, the programme aims to cultivate a new generation of innovative, business-ready entrepreneurs.

Through this initiative, the Small Business Bureau continues to strengthen its commitment to building entrepreneurial capacity, fostering innovation, and supporting the development of sustainable small businesses across Guyana.