Trade Ministry gives $425k in grants to SMEs

THE MINISTRY of Trade and Industry disbursed over $425,000 in grants to small and medium sized enterprises on Tuesday.

Trinibakes Ltd, a small manufacturer in the food and beverage sector received $176,351.49 funding through the Grant Fund Facility, while Panland Trinidad and Tobago received $250,000 from the Steelpan Manufacturing Grant Fund Facility. In a release from the ministry, Trade Minister Paula Gopee-Scoon said government will continue to support and improve capacity and technology in the manufacturing and creative industries, especially during the coronavirus pandemic.

Trinibakes produces specialty frozen foods such as bread and pastry doughs for both retail and wholesale distribution. Gopee-Scoon commended the company on their use of predominantly locally sourced ingredients, including flour, pumpkin, beetroot, coconut, ginger and spinach, which has created supply linkages with domestic farmers and flour manufacturers. The company intends to use the grant to purchase new machinery and equipment manufacturing, which will allow for greater efficiency and increased production capacity to expand locally and regionally.

Panland has been in operations for over 25 years and offers a wide range of products and services, including all sizes of conventional steelpans, accessories such as sticks, stands and cases, and also services like tuning, blending and powder coating. Gopee-Scoon said the economic potential of the steelpan industry was of cultural significance to the country. She commended Panland for being able to establish a presence on Amazon and was hopeful that the financial support will give the company the assistance needed to boost its production capacity and re-position itself in the international marketplace.