From Surviving to Thriving
Managing and growing a business is a different challenge from starting one. Many Guyanese businesses launch successfully but then plateau — stuck in day-to-day operations, unable to win new customers at scale or access the financing needed to expand. This guide addresses the four areas that most determine whether an established business grows: marketing, sales, financial management, and operations.
1. Marketing on a Budget
Effective marketing does not require large advertising budgets. The most powerful marketing tools for SMEs are built on relationships, reputation, and consistency — most of which cost time rather than money.
Define Your Target Customer First
Before spending any time or money on marketing, be precise about who you are marketing to:
- What industry or type of customer needs your product or service?
- What is their biggest problem that you solve?
- Where do they go to find suppliers — referrals, industry events, procurement portals, social media?
A specific message to the right audience will always outperform a general message to everyone.
The Most Effective Low-Cost Channels
Word of mouth and referrals A satisfied customer who refers you is worth more than any advertisement. Consistently deliver quality work, then actively ask happy clients for referrals. A simple follow-up call after job completion — to confirm satisfaction and ask if they know anyone else who could use your services — costs nothing and compounds over time.
Google Business Profile Free to set up and one of the most effective tools for local visibility. When someone searches for your type of business in your area, a complete Google profile ensures you appear. Add photos, your services, and contact details.
Facebook and Instagram Widely used in Guyana for business discovery. Regular posts showing your work, your team, and customer outcomes build credibility with potential clients. Two or three quality posts per week, consistently, outperforms irregular bursts of activity.
LinkedIn The right platform for B2B businesses — particularly those targeting oil and gas, construction, or professional services buyers. Use it to connect with decision-makers, share expertise, and demonstrate capability.
Email updates A monthly email to your customer and prospect list — new services, project completions, industry news — keeps you visible without being intrusive. Free for small lists.
Your One-Page Company Profile
One of the most practical marketing tools you can create is a professional one-page company profile: who you are, what you do, your track record, your certifications, and your contacts. Many procurement processes ask for this as a first step. The BSD can help you produce one.
2. Building a B2B Sales Strategy
Most Guyanese SME growth comes through business-to-business (B2B) sales — winning contracts with oil and gas operators, construction firms, government agencies, or large private companies. This requires a deliberate strategy, not just responding to opportunities as they arise.
Understand the B2B Buying Process
B2B purchases are rarely impulsive. A company buying services or supplies typically goes through:
- Identifying a need
- Defining requirements and specifications
- Identifying and shortlisting suppliers
- Evaluating capability, credentials, and price
- Negotiating and contracting
Most businesses that lose B2B contracts do so at step 3 or 4 — they are not on the buyer's radar, or they cannot demonstrate the required credentials when the evaluation happens. The implication: you need to build relationships and establish credibility before the tender or contract opportunity appears.
Identify Your Target Accounts
List the specific companies or organisations you want to win as customers. For each one, research:
- Who makes the procurement decision?
- What are their supplier qualification requirements?
- What do they currently use and what gaps or problems might you address?
- Are there existing BSD connections or introductions available?
Ten well-researched target accounts will generate more contracts than a hundred cold approaches.
Oil and Gas Supply Chain Entry
ExxonMobil, SLB, and other operators in Guyana's petroleum sector run formal pre-qualification processes for suppliers. To enter the supply chain:
- Register with the Guyana Local Content Secretariat
- Complete operator pre-qualification processes (requires governance documentation, ESG credentials, financial records, and technical capability evidence)
- Build relationships with Tier 1 contractors — many SME contracts are subcontracted rather than won directly from operators
- Ensure your local content compliance is documented — percentage of Guyanese ownership, workforce, and procurement
The Download Library contains the Guyana Local Content Policy and Half-Yearly Report Guideline — essential reading for any business targeting this sector.
Government Procurement
The Government of Guyana procures goods and services across all ministries. Key steps:
- Register as a supplier on the National Procurement and Tender Administration Board (NPTAB) portal
- Monitor published tenders in the Official Gazette and government websites
- Ensure your business is current on all tax obligations — a TIN compliance certificate is typically required
3. Managing Your Finances for Growth
Financial management is the most common weakness in growing businesses. As revenue increases, so does complexity — more clients, more staff, more cash moving in different directions. Without strong financial controls, growth can actually damage a business.
Separate Business and Personal Finances
This is the single most important financial discipline. If you do not have a dedicated business bank account, open one immediately. Mixing personal and business finances makes it impossible to track profitability, creates legal risks, and is a red flag for any lender or auditor.
Know Your Numbers
At minimum, you should review monthly:
- Revenue — what was billed this month?
- Cash collected — what was actually received?
- Expenses — what did you spend?
- Outstanding receivables — who owes you money and for how long?
- Cash position — what is your bank balance and what bills are coming?
A business that does not know these numbers is flying blind.
Manage Debtors Actively
Late payment is one of the biggest growth killers for SMEs. Establish clear payment terms on every contract and invoice promptly. Follow up on overdue invoices immediately — most late payments are the result of poor follow-up rather than deliberate non-payment.
Consider requiring deposits on large contracts and milestone payments on long projects rather than a single payment on completion.
Prepare for Lender Scrutiny
As your business grows, you will need external financing — for equipment, working capital, or expansion. Lenders will want:
- Two to three years of financial statements
- Current management accounts
- A cash flow forecast
- Evidence of consistent revenue and controlled costs
Build these habits now, before you need the financing, so the records exist when you apply.
4. Strengthening Your Operations
Operational strength — the ability to deliver consistently, manage your team, and scale without the business depending entirely on you — is what separates businesses that grow from those that stay small.
Document Your Processes
If every task in your business relies on you or one key person knowing how to do it, your business is fragile. Documenting core processes — how jobs are quoted, how work is delivered, how quality is checked, how invoices are raised — makes your business more resilient and easier to scale.
Start with the three processes that cause the most errors or bottlenecks and write them down step by step.
Build Your Team Deliberately
Growth requires delegation. If you are doing everything yourself, you are the bottleneck. Identify:
- What tasks only you can do (strategy, key relationships, complex decisions)?
- What tasks can be delegated with proper training and oversight?
- What roles do you need to hire for in the next 12 months?
Hiring is expensive — invest time in onboarding and training to reduce turnover.
Plan for Growth Capacity
Before winning a large new contract or taking on a major expansion, ask:
- Do I have the staff to deliver?
- Do I have the equipment?
- Do I have the cash flow to bridge the gap between starting work and receiving payment?
- What happens to my existing clients if I take on this new work?
Many businesses fail not from lack of opportunity but from taking on more than they can deliver. Planned, staged growth is more sustainable than rapid expansion.
Your Growth Checklist
- [ ] Target customer clearly defined and documented
- [ ] Company profile document prepared
- [ ] Top 10 target accounts identified and researched
- [ ] Google Business Profile active and complete
- [ ] Supplier registration completed (NPTAB, operator pre-qualification where relevant)
- [ ] Dedicated business bank account open and in use
- [ ] Monthly financial review process in place
- [ ] Invoicing and debt collection procedures documented
- [ ] At least two years of financial records maintained
- [ ] Core business processes written down
Contact the BSD's Business Advisory Services for one-to-one support on any of the areas covered in this guide.