Small businesses star at Nedco-sponsored Xmas village

Small entrepreneurs had an avenue to sell their produce, some of which were created in home-based businesses, at a Christmas Village expo, Queen's Park Savannah, Port of Spain last weekend.

It was an opportunity for them to network and learn about the resources available to them at the National Entrepreneurship Development Co Ltd (Nedco) – the three-day expo's main sponsor. Its CEO Calvin Maurice said Nedco continues to play a major role in developing linkages with small business owners.

“Nedco will also build relationships with entrepreneurs so they can access the many services offered such as financing and business management,” Cummings told Business Day.

He toured the expo, last Saturday, with Social Development Minister Donna Cox and Minister of Youth Development Foster Cummings – the line minister for Nedco.

Maurice said Nedco officials were on site to engage with with the micro-entrepreneurs.

"We want to see what additional support they would need from Nedco in terms of mentorship, training and product development,” Maurice said. He added that small and micro-producers are key stakeholders in transforming and diversifying the economy. Nedco provided all of the tents, tables and chairs used by the business owners to sell their products for the expo.

The Christmas Village had a little over 300 vendors whose core business is either community-based or home-based.

Cox and Cummings visited several booths including the Karrah Kare booth which sold handmade hair and baby oils and hand sanitisers.

Another small business owner, Nicole Williams, operated a booth which sold plant pots. Williams said she uses cement, cloth and balloons to make her pots.

Christmas Village organisers Marsha Baptiste and Jessica Joseph – owners of Trinmag and Precision Signs & Trophies – said the turnout last Friday was very good. Baptiste said, “This expo is an avenue to give small business owners some relief after their businesses were badly hit by the covid19.”

Cox's ministry also used the village to promote it Sowing Empowerment through Entrepreneurial Development (SEED) grant which provides financial assistance for people who need support to get their small business ventures off the ground. Applicants can receive up to $15,000.

Cox congratulated Cummings on his involvement in the expo which she said empowered small entrepreneurs to step up even in the face of the pandemic and earn an income especially during the Yuletide holidays.

She urged patrons to learn about the various assistance programmes available to small entrepreneurs.

Cummings said many commercial activities take place during the holidays and that it was important for small business owners to get an opportunity to showcase their products and compete with bigger businesses and foreign imports.

In a subsequent joint ministerial statement, Cummings said the government is committed to expanding its support to small business owners including the provision of $50 million in the 2022 budget to assist the sector with proper record-keeping.