Cox: Hope still alive for entrepreneurs

Despite the socio-economic challenges left behind by the covid19 pandemic, Minister of Social Development and Family Services Donna Cox says there are still opportunities available for small business owners.

At a grant distribution ceremony for the Sowing Empowerment through Entrepreneurial Development (SEED) programme at the ministry on St Vincent Street, Port of Spain on Tuesday, Cox said her ministry was committed to assisting those in need and helping them develop self-reliance.

She noted even in the face of difficulties from the pandemic, entrepreneurs have continued to grow and thrive in different communities. She said small-scale businesses were essential for restarting the economy.

"Numerous micro, small and medium-sized enterprises locally have demonstrated their resilience by making the adjustments necessary for business continuity.

"Several have begun to digitalise their operations and services while others have seized the opportunity to diversify their products and services.

"This has endorsed our view that micro, small and medium-sized enterprises are central to the revitalisation of our local economy and we are delighted that our SEED grant can serve as a catalyst to the development of these small and micro entrepreneurs."

Cox said the SEED grant, which was part of the ministry's National Social Mitigation plan, offered participants up to $15,000 in grant funding for goods and equipment for their businesses, and up to $7500 in funding for skills training at an accredited institution.

In addition to helping become more self-sufficient, Cox said entrepreneurs were valuable members of their communities. Noting the success of past SEED recipient Kimbale Rogers-McLean, who began her own clothing company, Cox encouraged participants to apply themselves and be flexible in their business model.

Permanent secretary Jacinta Bailey-Sobers also noted that the pandemic has prompted many citizens to develop their own small businesses and was happy the ministry could support through funding and training.

Nine people from different parts of TT received their grants during the ceremony for different businesses including hydroponics, landscaping, woodworking and a mini mart.