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How to Start a Business in Guyana – 10 Feasible Opportunities

Guyana happens to be a sovereign state in the Caribbean part of South America. Guyana is one of the few Caribbean countries that are part of the South America and it is part of the Anglophone coast. It has its capital as Georgetown. It was originally colonized by the Dutch folks and later it became a British colony. Hence, it is a member of the Commonwealth of Nations.

The climate is tropical which means that it gets generally hot and humid and can be said to be moderated by northeast trade winds along the coast. There are majorly two main seasons in Guyana; the first from May to mid August and the second one from mid November to mid January.

The predominant economic activities in Guyana include the following; Agriculture-production of rice and demerara sugar, gold mining, bauxite mining, shrimp fishing, timber and a host of other activities. There are however still loads of top business opportunities that you can tap into. Here are some listed businesses below that you may tinker with over investing your hard earned money in.

Top 10 Small Business Investment Opportunities in Guyana

1. Hospitality Business

The hospitality sector is one industry in Guyana which has continued to enjoy great positive sides. You too may consider starting a hospitality business. This may be starting up a hotel, resort, or restaurant. However, you must be sure to get the basic information right before you launch out so as to start on the right footing. It is important that you take a cue from existing hospitality providers so as to garner adequate knowledge.

2. Foods and Catering Business

In Guyana, there are several dishes both local and continental that catch the fancy of both residents and visitors. Therefore, if you know you have a penchant for cooking, then you may want to start a food catering business since this is one sector that thrives a lot in Guyana. The food catering business means that you must have all the skills required to make delicacies that might attract the right consumers.

3. Banks and Financial Services Business

In Guyana, the banking and financial services business is just one area that rakes in money, it can also be said to be one contributor to the country’s GDP. You too may consider investing in this kind of business and tap into the vast opportunities of profit entrenched therein. Some of the services you may want to render include; mortgage and savings loans, micro finance as well as real banking .It is worthy to note that this all depends on the capital you are able to pool together as a startup.

4. Departmental Store

Departmental stores would always continue to thrive all over the world and Guyana isn’t an exception at all. For as long as the need of man is insatiable; therefore you can be sure that there would always be profit in this kind of business. All that is required for you to make good headway is to have your store located in a strategic position in the city. Also, be sure to have it well stocked up.

5. Crafts Production

The country of Guyana doesn’t solely depend on goods that are exported. The economic activities have also given room for manufacturers of various crafts to come on board. Some of such manufacturing sectors include; the shoe production, garment production, arts and crafts and what have you. You may consider investing in the shoe manufacturing business and be rest assured that the market is very wide.

6. Building Material Agent

There are a lot of companies who deal in all types of building materials. This is one business that prospers a lot in Guyana. Therefore, you may also be willing to cash in on this by investing your money in such an opportunity as this. Things to consider dealing in are: building materials and industrial engineering tools.

7. Hospital

The need for a standard hospital all over the world cannot be over flogged. It is the wish of the government of all countries to have the best medical facilities for its citizen. Therefore, you can be sure that if you invest in this business much more than solving a problem, you would be gaining a great deal.

8. Pharmaceutical Business

The health sector wouldn’t be complete if the pharmaceutical sector isn’t at par with it. Therefore, if you are a pharmacist or per chance are passionate about the pharmaceutical business, then good news is that such a business can guarantee great profit in Guyana. You may consider being a distributor or going out rightly into production.

9. Real estate Business

Ever since the stocks of the world crashed, the need to take the real estate sector really seriously has continued to gain more grounds. You can start out by being a realtor in Guyana as well as being offering real estate advice and services to people.

10. Night Club

The night life as it is in other Caribbean states is same in Guyana. You too can begin to serve the teeming population of fun lovers who make it a point of necessity to unwind and have fun regularly. Investing in starting a nite club means that you must be a fun lover yourself. You may consider putting up side attractions like a live band, as well as a karaoke session.

There you have it. Top ten business opportunities you may consider or begin to look into as a serious investor who wants to do business in Guyana.