‘SME key to recovery T&T’ | Local business

ENTREPRENEURSHIP is the gateway to economic recovery, wealth creation and long-term prosperity, according to Natasha Davis, vice president, Marketing and Operations, Unit Trust Corporation (UTC).

“We believe that post-pandemic small and medium-sized businesses are vital to Trinidad and Tobago’s economic recovery and global competitiveness,” Davis emphasized, speaking at the recent 20th Annual Trans-Atlantic Trade and Investment Symposium, Trans -Atlantic Business Development Round in the Lidj Yasu Omowale Emancipation Village, Queen’s Park Savannah.

The symposium, she said, has facilitated the meeting of minds by creating opportunities for increased trade and has served as a backdrop for solid and profitable partnerships. Most importantly, Davis said the symposium continues to be a catalyst for entrepreneurship, aligning with UTC’s mission to create wealth for TT citizens.

Through initiatives such as ScaleUp, a partnership with the Department of Commerce and Industry and a US-based firm, Entrepreneurship Policy Advisors, and another partnership with the UWI Ventures Ltd called UrpreneurPlus, UTC is helping build an ecosystem that is sustainable yet relevant. is to our market.

She told attendees that economic recovery and sustainable financial well-being rely heavily on people involved in their community, such as supporting the greengrocer on the corner, or the cobbler and hair salon around the corner, as with effective government policies.

‘If you were to spend money on a small business near you, you would have played a role in restoring our country’s financial position. You would have helped those struggling to keep the doors of their businesses open,” she said, calling for a renewal of our commitment to supporting our small and micro-entrepreneurs.

With this in mind, she urged people to develop a more mature way of looking at and interacting with money and engaging in learning more about the financial world. “Can we commit to saving some of our earnings? Do we understand how investing works and do we think carefully about how we manage and use debt? Not to mention the kind of debt we take on,” Davis said, pointing to the reality of a middle-income family and asking, “How can I save when everything is more expensive?”

Her response: by building positive, mature money habits, creating a budget and starting right away, with small steps – with minimal amounts. As challenging as it is, let’s learn how to do it better, be disciplined and serious about managing and growing your money, she said.

In terms of boosting economic growth, Davis said the recent launch of the Trade and Business Information Portal by the Department of Trade and Industry is an encouraging sign that there are more opportunities to support demand for local exports through increased use of technology and, on the other hand, increase cooperation with allies and partners.

She spoke of trade agreements and policies that open up markets for more of Trinidad and Tobago’s businesses in the African diaspora, noting that this could make a significant difference in fostering mutual growth and economic prosperity.

Those in attendance included Secretary of Commerce and Industry Paula Gopee-Scoon, Garth Thomas, Chair, Trans-Atlantic Business and Development Roundtable, and Khafra Kambon, Chair, Trinidad and Tobago Emancipation Support Committee.

Leave a Comment