The Ministry of Trade and Industry’s agency FashionTT, in collaboration with the National Entrepreneurship Development Company Limited (NEDCO), awarded certificates to the first cohort of graduates of its Entrepreneurial Development Programme on October 19, 2019. The 7 month, capacity building activity targeted tier four participants in FashionTT’s Value Chain Investment Programme which provides designers with strategic assistance to improve their overall business performance.
Minister of Trade and Industry, Senator the Honourable Paula Gopee-Scoon, who attended the event highlighted the significance of the creative sector to the country’s economic objectives. “Developing globally competitive businesses is one of the core tenets of the Government’s National Development Strategy,” she added “and is the overarching goal of the new Trinidad and Tobago Trade Policy which is intended to increase market share for all sectors including fashion, in traditional and non-traditional markets.”
The sessions, exposed the participants, in the small medium and micro enterprise sector to critical areas such as Business Plan Development, Costing and Pricing, Record Keeping and Cash Flow Management, Business Taxation and Marketing Strategy and ensured they attained core business skills and tools. It also positioned the beneficiaries to manage enterprises and develop products which can compete nationally, regionally and beyond.
Also speaking at the certificate distribution function was Ms Karen Carraballo, Chief Entrepreneurial Development Officer at NEDCO. She emphasized the value of the partnership between FashionTT and NEDCO. “We are on board to bring the business aspect to fashion” she stated. As fashion entrepreneurs she indicated that the graduates played a significant role in the diversification and growth of the national economy. She encouraged them to take their roles seriously. The indigenous fashion industry is well positioned to build on the nascent domestic talent and be an active player in international trade. The global Fashion Industry was valued at US$2.4 trillion and was forecast to grow by another 3.5 to 4.5 percent in 2019. The Government, through the VCIP and other targeted programmes is creating an improved facilitative and enabling environment for international trade.