The Unit Trust Corporation's Scale-Up programme continues to accelerate the growth of small and medium enterprises, with well over half a billion in direct increased income generated by participants since the programme's inception. Rynessa Cutting ha smore from Cohort Five's graduation.
00:00Now in its fifth year, the Unitrust Scal-Up program is boasting notable results, with well over half a billion dollars in direct increased income generated since the program's inception.
00:12To date, the Scal-Up TT program alone has supported companies across five cohorts. At the start of coming into the cohorts, the companies collectively generated 607.1 million dollars in total income.
00:30Post their involvement in the cohorts, an estimated $679.9 million increase in income has come directly as a result of the Scal-Up program. These companies have over that time also created 1,850 new jobs.
00:53This year's cohort saw nine companies benefit from the Accelerator program.
00:58The Scal-Up TT program provides crucial skills in sales and marketing, organizational development and entrepreneurial finance. It's designed to equip small and medium enterprises with the tools to unlock exponential growth and navigate complex market challenges.
01:20Meantime, the Ministry of Trade is set to launch its own initiative in a bid to further support small and medium businesses.
01:28In the coming weeks, the Ministry will also be launching its bi-local Build TNT national campaign.
01:36The Minister has continuously emphasized that this is more than just a slogan.
01:42It is an economic strategy which I encourage each of you to embrace.
01:46Every dollar spent on locally produced goods and services helps to reduce imports, conserve foreign exchange, build economic resilience from the ground up.
02:00SMEs make up roughly 95 percent of all registered businesses in Trinidad and Tobago.
02:06But Planning Minister Kennedy Swartzing notes they contribute significantly less to the nation's revenues.
02:1330 percent contribution to GDP is not enough.
02:18We need to make our dependence on the energy sector less and less relevant to our future aspirations.
02:27We are reviewing right now an establishment agreement with the World Bank.
02:33It is our intention to make sure and create additional avenues to give you access to the kind of financing that you would need
02:39and also to try to create access to international markets.
02:43I am going to be, hopefully, inviting some of our members of the business community to really partner with us.
02:53People like Massey and Extra Foods and all the established must create avenues where local persons can bring their...
03:03They shouldn't have to beg to say, but could you list my product?
03:07I look at the packaging.
03:08I look at the effort that people are putting in.
03:12Come on.
03:12We must get on board.
03:14We must say to these people that there is always a space for you in our organization.
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