President of the Georgetown Chamber of Commerce and Industry (GCCI), Kathy Smith said the significant growth recorded in its membership is reflective of the country’s rapidly developing business landscape.

Addressing GCCI’s 136^th Annual General Meeting at the Guyana Marriott on Thursday, Smith said as the country’s economy evolves, more Guyanese businesses are developing and expanding.

In just one year, the Chamber has attracted 79 new members.

“After examining the developments and opportunities that have arisen and paying attention to the cultural shift that is occurring, it is pellucid that Guyanese are up to the task of providing the goods and services that are being demanded and embracing entrepreneurship. The GCCI prides itself in providing a platform of nurture and support for all businesses, particularly Micro, Small, and Medium sized Enterprises (MSMEs),” the GCCI President said.

After recording a deficit in 2024, the GCCI turned its fortunes around in 2025. According to Smith, GCCI recorded a surplus of $5.5 million in 2025, representing a significant improvement of $6.9 million compared to the $1.4 million deficit recorded in 2024.

Smith said the turnaround reflects the Chamber’s continued focus on strengthening its financial management and operational efficiency.

It was explained that the deficit recorded in 2024 was largely driven by a bad debt write-off of $7.3 million.

“During 2025, the Chamber implemented stronger accounts receivable management practices, which resulted in a substantial reduction in debt write-offs by approximately 102%, or $3.7 million. This improvement highlights the Secretariat’s efforts to strengthen financial controls while maintaining the Chamber’s commitment to supporting its membership and expanding its activities,” the GCCI President said.

It was noted that overall, gross revenue increased from $105.86 million in 2024 to $123.71 million in 2025, representing an increase of $17.85 million or 16.84%.

Smith said the growth was driven by strong performance across several of the Chamber’s key initiatives and events, which continue to serve as important platforms for engagement with the private sector.

The GCCI Business Awards Gala, for example, generated gross revenue of $17 million with expenses of $11.8 million, resulting in a surplus of $5.2 million.

The Chamber in 2025 also reintroduced National Small Business Week –an initiative that generated a surplus of $5.8 million. Smith said its return reaffirms the Chamber’s commitment to supporting and promoting small and medium-sized enterprises across Guyana.

Smith reported that while the Chamber’s participation in the Offshore Technology Conference (OTC) recorded a deficit of $442,000, significant improvements were achieved in its financial performance. Revenue increased by $333,000 while expenses were reduced by $698,000 resulting in a reduction of the overall deficit by approximately $1 million compared to 2024.

The GCCI President noted that among the major projects rolled out in 2025 was the Agriculture Accelerator Programme, which was done in partnership with the Inter-American Development Bank.

To support to initiative, GCCI received funding to the tune of $10.425 million in 2025 and according to Smith, it will be utilised to facilitate training workshops, capacity-building sessions, mentorship activities, and market linkage initiatives aimed at strengthening small and medium-sized agro-enterprises.

The programme was designed to enhance business management skills, improve productivity, support value-added production, and expand market access for participating enterprises.

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