A $117.4M contract has been awarded for the construction of a business incubation centre at Belvedere Industrial Estate, Region Six (East Berbice Corentyne), Minister of State Joseph Harmon disclosed.
The project, which was announced in the 2017 National Budget, will finally commence and it will be undertaken by Memorex Enterprises.
The Minister of State explained that a business incubator is an entity aimed at helping small businesses to start up their operations.
In addition to providing a physical space for microenterprises, the incubator will offer legal, financial and other advisory services to the budding entrepreneur.
“The key elements of the incubator are the provision of an environment where businesses can start their work quickly and can expand their operations rapidly. It supports the work of small businesses and provides for them to survive the incubation period of their businesses,” Harmon explained.
Minister of Finance, Winston Jordan in his budget speech also revealed plans to develop more business incubators across the country.
