Republic Bank Marketing Specialist Josaun Edmondson said there has been a tremendous growth in the development of Small and Micro Enterprises (SMEs) on the local landscape over the past years.
Edmondson, who is responsible for small and medium-scale lending, stated that the bank has noticed an overwhelming growth in SME which has forced the institution to introduce the new portfolio which he holds.
“As of 2012, we have seen tremendous growth in small and medium scale business activity and this has led to the creation of my position,” the marketing specialist remarked.
Edmondson oversees and ensures small businesses receive the necessary support which they require to assist them in development and eventually expansion. “Because like the employed people, self-employed customers also have their individual needs and are unique in their business dealings,” the lending officer related.
Edmondson pointed to the fact that in the most advanced economies, SMEs make up close to 70 per cent of the income generated; which emphasises its significance.
He explained that Republic Bank is working on implementing various ways of offering more support to this unique group of entrepreneurs. According to Edmondson, Republic Bank will be sponsoring Empretec’s Venture Out 2013 prizes for the best loan proposal(Guyana Times).
