Ramps Logistics' executive tells entrepreneurs: Have faith in our country

BUSINESSMAN Shaun Rampersad of Ramps Logistics Ltd has urged small and medium enterprise (SME) owners to believe that TT has a bright future, economically. He was speaking at a seminar on SMEs held by the TT Chamber of Industry and Commerce seminar at its Westmoorings office on February 11.

Rampersad said the tone at the opening of the Energy Conference at Hyatt Regency, Port of Spain, the day before had been one all about optimism.

"I will say that very strongly to all of you: Even as you struggle today, better times are coming."

"Production in the (crude oil and natural gas) upstream sector is going to increase significantly from 2026, 2027, because of a lot of the policies and the work that is being done by our Government. A lot more will come in. Things are going to get better."

Noting a US$35 million loan by the Development Bank of Latin America and the Caribbean (CAF) to TT to support SME development, he expected it to be paid off by anticipated future earnings from oil and gas.

"The situation will get better. Don't give up. Keep investing in your business.

"And if you find an asset today that is worth a dollar and somebody is selling it for 60 cents, buy it! You will be able to make money on that.

"Trinidad and Tobago has a bright future ahead of us." He said TT has incredible people and incredible industries.

"Things will get better. So keep investing and keep you heads up."

Rampersad hailed Imbert's efforts at running TT's economy.

"The minister has done a very job to get us through this very difficult time." He said while more could be done about crime, people should celebrate the things that TT does well. Rampersad shared some insights into his life including as a child hearing his father typing up customs documents on his typewriter at 2 am at night, plus buying wholesale goods in Port of Spain and selling them to successive retailers he passed on his long drive home. "I wonder how they did it all?" he mused.

He said many SME's were seeing tough times at present, with business people often wondering why they were not seeing the kind of success they had expected.

Rampersad said ultimate success would depend on their ability to be resilient.

He reminded, "Every single large business started off small somewhere."

Rampersad said that being an entrepreneur was a guarantee of facing tough times.

"I have had a support system I have been lucky to build on."

Rampersad offering advice for the entrepreneurs.

"Never do business with people whose principles you do not agree with. If we do not like you, we would not work with you."

Saying that to run a business consumes one's life, he urged entrepreneurs to go the extra mile to find people they would want to work with.

He urged more effort be made for innovation, such as by companies improving processes and hiring the best staff.

Rampersad urged companies to do more research and development.

However he urged business people not to get so caught up in their businesses that forget why they did those businesses, that is, to maintain their families.

Defining success as a measure of whether one's grown children want to spend time with their parents, he said business people should not just view success in terms of the performance of their business. Advocating for mentorship of SMEs, he said, "Those of us who have done well, we owe it to help others."