BUSINESS SUPPORT IN GUYANA

BUSINESS SUPPORT IN GUYANA

As a business operator, there are several administrative issues that you need to take care of to ensure that you remain compliant with Guyanese laws and avoid penalties and fines. Keeping up with everything can be complicated. Here is the support you will need to help you run your business smoothly in Guyana.

Business Administration

There are several tax benefits that are available for businesses. Business persons may also be able to enjoy certain business-related deductions related to materials and equipment, services related to your business, etc. In Guyana, businesses are obliged to keep administrative records for a certain period of time. A good local accountant will be able to advise on the process.

Banking

Opening a local business bank account can make it easier for you to manage your business by making your business administration go a lot smoother, saving you time. A separate account will also make sure your personal assets are protected, in case of fraud or bankruptcy. There are various banks in Guyana that offer bank accounts.

Insurance

As a business owner, you run risks that you are not exposed to as an employee. Taking out insurance protects you against such risks and can guarantee you an income if you are unable to work or if your business is adversely affected.