THE SURINAM ECONOMY cannot continue to rely on a handful of traditional sectors. For decades, gold, oil, timber and to a lesser extent agriculture have been the mainstays of our national income. But those who want truly sustainable economic growth, more jobs and broader prosperity must invest much more seriously in the backbone of any modern economy: small and medium-sized businesses.
The recent Impact Event and High Level Conference of the Ministry of Economic Affairs, Entrepreneurship and Technological Innovation and the Suriname’s Growth Enterprises (Surge) program was therefore more than a symbolic meeting. It was an important signal that entrepreneurship is finally getting the attention it deserves.
More Surge is not a luxury. It is an economic necessity.
Micro, small and medium-sized enterprises are the largest source of employment worldwide. They ensure innovation, flexibility and economic spread. This applies just as well in Suriname. From small production companies and ICT startups to agricultural entrepreneurs and service providers: they create jobs where the government and large companies often cannot.
The problem is that many Surinamese SMEs suffer from the same structural obstacles: limited access to financing, inadequate guidance, insufficient market access and a shortage of technological support. That is exactly what projects like Surge respond to. By means of business development services and matching grants companies receive not only money, but also knowledge, coaching and growth strategies. That is crucial. After all, an entrepreneur not only needs capital, but also expertise to grow sustainably.
There are plenty of examples internationally where such programs have delivered tangible success. In Rwanda, SME support programs supported by the World Bank and the government resulted in strong growth of young businesses and thousands of new jobs.
In Barbados and Jamaica, similar initiatives have helped small businesses digitize and take advantage of export opportunities. In fact, in Singapore, targeted government support for small and medium-sized businesses became one of the foundations of that country’s economic success story.
Suriname must learn lessons from those examples. Surge should not remain a one-off project that disappears after a few years. On the contrary: it must be expanded, deepened and followed up with new programs focused on innovation, exports, digitalization and access to credit.
If Suriname really wants to diversify its economy and become less dependent on raw materials, entrepreneurship must not only be praised at conferences, but must be structurally financed and facilitated. More Surge is not a luxury. It is an economic necessity.
