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IN any country, the Ministry of Planning addresses the issue of how to make development happen for that country. In any government, whatever t…

  • Updated

According to the Trinidad and Tobago Chamber of Industry and Commerce (TTCIC) and the Central Statistical Office (CSO), based on available data as at 2011, there are approximately 20,000 to 25,000 small and medium enterprises (SMEs) in Trinidad and Tobago, representing roughly 85 per cent of all registered businesses locally. Consequently, the SME sector’s role in the economic activity contributing more than 30 per cent to the country’s gross domestic product (GDP) cannot be overlooked.

Its importance was further illustrated with the implementation of the SME Stimulus Loan Facility programme by the Government of up to$300 million to assist SMEs impacted by the Covid-19 pandemic.

  • Updated

The Covid-19 pandemic has forced as much as 15 per cent of retail businesses in San Fernando to permanently shut down.

And some small business owners are being forced to make tough decision about reducing staff and adjusting opening hours.