“Resetting The Economy For Growth and Innovation” the theme for the 2020/2021 budget presentation highlighted macro-economic indicators showing that Trinidad and Tobago’s output is now projected to contract in real terms by 6.8% in 2020, with recovery driven by an emerging digital economy, and a recovering global economy expected by 2022; the budget presentation cited that in moving forward, the country’s developmental model must be anchored against the background of an emerging digital economy.
Appended to a digital economy is the prospect of diversification – a much talked about desire over a number of years; though there are a number of initiatives driven by both public and private sector, linkages and synergies must be cemented to realize sustainable outcomes. The current economic challenges must be confronted by a renewed narrative that speaks to strengthening the national ecosystem; embedded within is a compelling call-to-action to amplify entrepreneurial development at a macro level so that it becomes a necessity rather than a basic desire.
A rejuvenated entrepreneurial voyage must be cognizant of existing challenges, ecosystem stakeholders along with unceasing celebrations such as Global Entrepreneurship Week; given its global value, GEW is well poised as an ecosystem game-changer. Its commemoration occurs in more than 170 countries in November of each year, and has moved past a normal celebration as the outcomes result in viable networking relationships; cross-sector synergies; new start-ups and scaling up of existing businesses which all redound to lessons learnt from the multiple GEW events that are hosted globally.
Here at home, Youth Business Trinidad and Tobago (YBTT) has been holding the reigns as local host for the past thirteen (13) years, and each year the organization has been able to successfully galvanize partners within the ecosystem to not only host events but to develop win-win partnerships. Whilst the Covid-19 pandemic challenged the economy, it also unleashed new opportunities such as the facilitation of virtual events for GEW 2020 – something that was welcomed by partners as they were able to engage in critical thinking to achieve quintessential results. A total of eighteen (18) partners and thirty-three (35) events are on this year’s calendar each being facilitated around the global themes of Education, Ecosystem, Inclusion and Policy.
Partners include AMCHAM, National Secondary Schools’ Entrepreneurship Competition, Social Progress Institute, Choice-HR Limited, FashionTT, MusicTT, The Timely Entrepreneur, League of ExtraOrdinary Entrepreneurs, Monivan Digital Solutions, Agricultural Development Bank, EXIMBANK, D’Market Movers Limited, DRA Consulting Limited, Social Justice Foundation, Consulting Services by King and Associates, U.S. Embassy Trinidad and Tobago. Ernst & Young Services Limited and RHAND Credit Union.
Project Coordinator - Stakeholder Relations,
Youth Business Trinidad and Tobago