SOCIAL SECTOR INVESTMENT PROGRAMME
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SUSTAINING GROWTH, SECURING PROSPERITY
CHAPTER 3: NATIONAL SOCIAL SITUATION
and the creation and facilitation of employment
and entrepreneurial opportunities aimed at
improving the quality of lives of citizens and
positioning the economy towards sustainable
development.
1. L
ABOUR
, J
OB
C
REATION
AND
M
ICRO
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E
NTERPRISE
i. Promotion of Micro and Small Enterprises
Micro and small enterprises play an important
role in the creation of jobs, generation of wealth
and assists in poverty reduction in Trinidad and
Tobago. As part of the Ministry of Labour and
Small and Micro Enterprise Development’s
ongoing effort to expand the contributions of the
Micro and Small Enterprise Sector to economic
development and growth the following were
undertaken:
A. National Integrated Business Incubator
System (IBIS)
The National Integrated Business Incubation
System (IBIS), developed by the Ministry
of Labour and Small and Micro Enterprise
Development (MLSMED), aims to provide a
unique mix of business development support
inclusive of infrastructural, operational, and
financial support to assist the growth and
success of new and existing micro and small
enterprises (MSEs).
IBIS, which is modeled after the Community
and Commercial approaches to business
development, carves and creates space for the
development of entrepreneurial capacities, skills
and mentorship support, as well as the creation
of market opportunities and financial networks
for existing and prospective entrepreneurs.
More precisely, the Community Based Business
Initiative (CBBIs) leverages business activities
based on the resources of the target community.
Essentially, communities are selected on the
basis of social indicators, inclusive of levels of
unemployment and the levels of poverty being
experienced by the community.
To facilitate the operations of IBIS, a Business
Advisory Board was established in 2012. The
Board coordinates the development and
operational systems with the MLSMED and
other key stakeholders.
In Fiscal 2012 the Ministry also commenced
development of a revised MSE policy for T&T.
Consultations were continued in 2013 for the
development of a comprehensive policy that
would guide the sector, facilitate data collection
and provide for greater coordination of support
to MSEs and effectively optimise resources.
CBBI was initially launched in Siparia/Penal
and Sangre Grande in September 2012, and
subsequently extended to San Juan/Laventille,
Point Fortin, Diego Martin, Barataria/San Juan,
Chaguanas, Carenage and Couva in 2013.
The CBBI comprises 3-phases: the pre-
incubation, the business incubation and post
incubation phases. In 2013, the following were
achieved:
• 56 of the CBBI candidates successfully
completed the pre-incubation phase and
seven businesses/persons qualified for
entry into the Business Incubation facility;
• recommendations were made for the
disbursement of seed capital to 43 of the 56
candidates, to facilitate funding for entry into
the CBBI Business Incubation Phase;
• Business Incubator facilities were launched
in Sangre Grande and Siparia/Penal and
facilities are being sourced in Diego Martin,
Barataria/San Juan, Chaguanas, Point
Fortin, and Couva;
• Signed a Memorandum of Understanding
(MOU) with the Arthur Lok Jack, Graduate
School ofBusiness (GSB) for theCommercial
Business Incubators (CBIs);
• Hosted a three day Business Showcase in
May 2013 in partnership with NEDCO/IBIS
and GSB and other local and regional bodies.
