Gopee-Scoon calls on small business owners to 'grow together'

PAULA GOPEE-SCOON, the Minister of Trade and Industry, urged small businessmen and -women to support each other on their journeys, so as to build a strong entrepreneurial ecosystem at the beating heart of Trinidad and Tobago's economy.

She addressed the 2024 cohort of the “Growing Together” Small Business Training Programme.

Over 1,600 people collected certificates for a short, online, business-skills course funded by the Coca Cola Company and Caribbean Bottlers (TT) Ltd and taught by UWI-Roytec, at a graduation on November 12 at the Centre of Excellence, Macoya.

Coca Cola and Caribbean Bottlers both signalled their support for building TT's small business sector.

Gopee-Scoon said, "Today’s ceremony is not just about recognising individual achievements but also about advancing our collective well-being and entrepreneurial prowess, which is key to the growth and development of any economy and society."

She said the programme now had over 2,000 graduates, including 400 from graduating last March.

"Your presence today is a testament to your determination to learn and your commitment to grow.

"During this engaging programme you have learnt the intricacies of business planning, marketing strategies, financial management, and community engagement."

Gopee-Scoon repeatedly emphasised the importance of collaboration among entrepreneurs trying to build small businesses.

"You have developed a network of support – a community of experienced and aspiring entrepreneurs who share your vision, challenges, and dreams.

"Additionally, you have formed relationships that will last a lifetime, and together, you have forged a pathway to success."

She thanked Coca Cola and Caribbean Bottlers for their partnerships to build small businesses and develop the local entrepreneurial ecosystem.

"The goal of the Growing Together initiative is to cultivate strong, sustainable businesses that contribute not just to the bottom line, but to the overall prosperity of our people, communities, and country. You the graduates are the embodiment of that vision."

The minister thanked UWI-Roytec for administering the programme.

"Small and medium enterprises (SMEs) are the drivers of our economy." She said SME's constitute 85 per cent of registered businesses in TT.

"They employ approximately 200,000 individuals and contribute roughly 30 per cent to the nation’s GDP.

"SMEs are often at the forefront of innovation, adapting quickly to changing market demands and experimenting with new ideas.

"This entrepreneurial spirit not only leads to the creation of new products and services but also stimulates competition, pushing larger companies to innovate and improve further."

She hoped business programmes would continue to harness talent, strengthen skills, and create a cadre of individuals willing to take risks.

"This is vital to harness SMEs' potential and facilitate the growth and expansion of the sector."

The minister advised small businesses to seek help from Nedco, her ministry and private banks.

"I encourage you to embrace the values of collaboration and resilience. Be the entrepreneurs and individuals who uplift others in your community.

"Share your knowledge, mentor someone who is just starting a business and need advice and guidance, and continue to network with your fellow graduates."

Such collaboration, she said, can create a robust ecosystem where small businesses not only survive but thrive.

"As you leave, remember the lessons learnt, the friendships formed, and the vision for a brighter future.

"Together, let us prove that when small businesses succeed, our communities prosper, and when our communities prosper, TT benefits.

"Let us all 'grow together'.”

Coca Cola public affairs director Lidia Castro, speaking via link from the US, told graduates how encouraged she was to see them taking advantage of growth opportunities like the programme, despite the challenges facing the global economy.

Caribbean Bottlers (TT) Ltd general manager Camille Chatoor said, "As part of the Coca Cola system, we believe in the transformative potential of small and medium-sized businesses. "This year, through the Growing Together Small Business Programme, we have trained entrepreneurs, providing them with tools and knowledge so that their businesses grow and prosper sustainably.

"With this initiative, we seek to create an impact that strengthens their communities and lasts over time."

Coca Cola vice president (Caribbean franchise operations) Muhammad Abdullah, said, "This programme impacts thousands of small business owners, owners of grocery stores, convenience stores, cafeterias, and businesses of all types, who are the heart of their neighbourhoods.

"This knowledge strengthens them, helping them to innovate, grow, and impact their communities."

The programme is also run in Barbados, Guyana, Belize, Jamaica, St Lucia and the Dominican Republic.