«Regional Meeting on Innovative Mechanisms for Financing and Guarantees for MSMEs in Latin America and the Caribbean“

Santo Domingo, Dominican Republic, April 19 – 21, 2017

SESSION I. CARIBBEAN PANEL: STATUS OF FINANCING AND GUARANTEES FOR MSMEs IN CARIBBEAN COUNTRIES. RECOMENDATIONS BASED ON BEST PRACTICES

Challenges For MSMEs and Financing Instruments: Trinidad and Tobago

Presentation of Ms. Willa Guy-Straker Director, National Entrepreneurship Development Company Limited, Trinidad and Tobago.

Trinidad and Tobago Overview:

• Population – 1.3 Million
• Gross Domestic Product US$23 Billion
• Per Capita GDP US$17,000
• Heavily dependent on oil and gas
• Urgent imperative for economic transformation and diversification
  • Lower oil and gas prices
  • Lower oil and gas production
  • Gov’t revenue from US$8 Billion to US$6.3 Billion
  • Revenue from oil and gas from US$2.86 to US$1 Billion

Challenges of Caribbean MSMEs

• Improvement in management/entrepreneurial skills
• Training, mentoring, accessible business support services
• Access to market opportunities
• Discrimination against smaller businesses, access to export opportunities (quality, limited capacity)
• Access to effective business environment
• Low ease of doing business ranking (96th out of 190)
• Access to Financing
• Limited access to appropriate financing
• Risk profile not acceptable to financiers Innovation not supported by appropriate financing

Download the presentation here