As we are all aware, Small and Medium Enterprises (SMEs) are critical to the development of Trinidad and Tobago. At present, there are approximately 20,000–25,000 SMEs, representing roughly 95% of the registered businesses in the country, and they employ nearly 200,000 persons in the workforce. They also contribute significantly to employment and innovation in Trinidad and Tobago and span various sectors, including manufacturing, retail, agriculture, technology, renewable energy, and creative industries. SMEs are the cornerstone of the Government’s diversification and sustainable development plans.

We can also attest that the COVID-19 pandemic was a defining moment for economies worldwide, exposing vulnerabilities and reshaping the way nations approached economic resilience. Over the past five years, SMEs have left an indelible mark on the global and local economic landscapes, emerging as critical drivers of recovery and growth.