NOTICIAS

Challenges For MSMEs and Financing Instruments: Trinidad and Tobago

"Regional Meeting on Innovative Mechanisms for Financing and Guarantees for MSMEs in Latin America and the Caribbean“

Santo Domingo, Dominican Republic, April 19 – 21, 2017

SESSION I. CARIBBEAN PANEL: STATUS OF FINANCING AND GUARANTEES FOR MSMEs IN CARIBBEAN COUNTRIES. RECOMENDATIONS BASED ON BEST PRACTICES

Challenges For MSMEs and Financing Instruments: Trinidad and Tobago

Presentation of Ms. Willa Guy-Straker Director, National Entrepreneurship Development Company Limited, Trinidad and Tobago.

Trinidad and Tobago Overview:

  • Population - 1.3 Million
  • Gross Domestic Product US$23 Billion
  • Per Capita GDP US$17,000
  • Heavily dependent on oil and gas
  • Urgent imperative for economic transformation and diversification
    • Lower oil and gas prices
    • Lower oil and gas production
    • Gov’t revenue from US$8 Billion to US$6.3 Billion
    • Revenue from oil and gas from US$2.86 to US$1 Billion

Challenges of Caribbean MSMEs

  • Improvement in management/entrepreneurial skills
  • Training, mentoring, accessible business support services
  • Access to market opportunities
  • Discrimination against smaller businesses, access to export opportunities (quality, limited capacity)
  • Access to effective business environment
  • Low ease of doing business ranking (96th out of 190)
  • Access to Financing
  • Limited access to appropriate financing
  • Risk profile not acceptable to financiers Innovation not supported by appropriate financing

Download the presentation here