VISION:
The Enterprise Development Division (EDD) has placed significant focus on the development and promotion of Micro and Small Enterprises (MSEs) to mobilize employment creation, poverty alleviation and wealth generation. The ultimate goal is to increase the MSE sector’s contribution to economic development.
ABOUT ENTERPRISE DEVELOPMENT DIVISION (EDD):
The Enterprise Development Division (EDD) of the Ministry of Labour and Small and Micro Enterprise Development is a policy unit established to examine and give guidance on the potential for entrepreneurial development. The EDD serves as the advocate for the development of SMEs and is responsible for the development of future policy and legislation pertaining to SMEs. The EDD is mandated to:
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Monitor the performance of the National Entrepreneurship Development Company (NEDCO) and the SME sector;
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Exercise supervision on behalf of the Minister by receiving and reviewing reports as well as making necessary;
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and interventions with the approval of the Minister to ensure that policy implementation is on course.
SERVICES OFFERED:
The (National) Integrated Business Incubator System (IBIS) – In collaboration with the National Entrepreneurial Development Company (NEDCO) Ltd., IBIS will provide physical infrastructure, financial, operational support and networking required by MSEs. IBIS will be implemented for different entities in various industries. Beneficiaries of this programme include:
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Start-up MSEs: the incubator provides access to production or commercial facilities, information, seed capital and business development services;
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Existing MSEs: the incubator provides opportunities for innovation, sourcing supplies and creating business spinoffs;
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Communities: the incubator promotes job creation and income generation and can improve the quality of life for those living within and around the community.
The Fair Share Programme – This programme seeks to address the challenges posed by the size and structure of small businesses and the limitation of their resources. This will provide for increased opportunities for MSEs to gain access to Government Procurement. The Programme offers tremendous levels of transparency and efficiency which encourages MSEs to enter territories that they have been reluctant to explore. The ultimate goal is to level the playing field and help MSEs grow and graduate into successful medium and large businesses.
MSE Development for Youth - Through collaborative efforts, leadership and support from key stakeholders, the Ministry will develop programmes and projects for sustained Youth enterprise Development, while focusing on the common goal of empowering youth to create wealth.
Other programmes being considered under MSE development include, but is not limited to:
EDD will develop and support programmes throughout the sector that will empower MSEs by facilitating access to mentoring and operation support to establish a vibrant entrepreneurial culture within Trinidad and Tobago. Our focus is enterprise development.
ACCOMPLISHMENTS:
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Small Business Month (Collaboration with NEDCO) – January 2010
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National Consultation on Boosting Employment and Enterprise Development in the Fashion Industry – April 26th 2011
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National Consultation on Business Incubation held on June 1st 2011
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