MSME programme held at Fin Tech Avenue

Business owners, including barbershop owners, cosmetics and apparel suppliers and brand consultants took part in a two-day workshop, the Money and Strategy Moves for Entrepreneurs (MSME) programme, at One Fin Tech Avenue, Waterfront Centre, Port of Spain, in June.

The programme, a result of collaboration with One FinTech Avenue and Rhand Credit Union Co-operative Society Ltd, aims to help entrepreneurs make strategic changes for long-term development, improved income, financial inclusion and overall success.

A release sent to the media on July 11 said the participants were given the tools needed to create digital marketing strategies and to increase their eligibility to open a formal business bank account.

The release repeated statistics from the International Labour Organisation (ILO) that in TT medium, small and micro enterprises (MSMEs) contribute more than 30 per cent of the country’s GDP, but 77 per cent of MSMEs do not have a formal bank account.

“The TT International Financial Centre (TTIFC) strives to tackle this issue through initiatives to build the capacity of MSMEs and assist fin tech operators and other start-ups.”

TTIFC CEO John Outridge said the centre’s primary goal is to equip business owners with the necessary tools to access formal financial services.

“The staggering statistic is particularly significant for a segment that plays a vital role in driving our national economic performance.”

The MSME programme was created by international business strategist Dana Hayes-Burke and finance expert Andrea Ragoo.