Not Just Another SME Conference
Small Medium and Micro Enterprises across the world continue to drive economies by making a significant contribution to the Gross Domestic Product of the country aid, creating employment opportunities, thereby alleviating some of the burden of the public sector. They enter niche markets that larger organizations may find it difficult to make the most of as the economies of scale make them unprofitable to the larger company. SME’s are generally leaner, and in many instances more driven to succeed as they are usually owner managed and want to carve their place in an industry or sector.
SME’s form a significant part of the Chamber’s membership and the Chamber sees the development of the sector as key to the overall development of the Trinidad and Tobago Economy.
On November 3, the Chamber’s NOVA Committee will host its third Small, Medium and Micro Enterprises Conference. Following two successful initiatives in 2006 and 2009, the committee, which spearheads the Chamber’s SME thrust, will again be presenting. The blend of topics addresses some of the most pressing issues for SMEs which can determine the success of a new or growing business, such as Government as Facilitator: Policy & Initiatives for SMEs, Brand Creation and Management as a Driver of Success, Successful National SME Models and Sustaining Competitiveness: Combining Innovation with Structure. The conference’s objectives are to exchange experience and best practice in enterprise development, stimulate discussion between the government and the private sector on the creation of a sustainable SME sector as an engine of economic growth and publicise the Chamber’s view of business-oriented development goals.
Often a smaller business may find itself bidding on opportunities that were once the exclusive domain of long established firms. Understanding how to successfully compete for such projects especially in light of government’s Fair Share programme is one area that will also be discussed at this conference.
Information on establishing a sustainable brand in a highly competitive environment will also be presented. Participants will be able to gain some insight into how to build brand identity, while standing out among the crowd.
There are many countries across the globe that have long recognized that the lifeblood of any economy is sustained by its SME sector. Favourable conditions are engendered in these environments to facilitate the growth of smaller businesses by providing incentives, clusters and incubators. Some examples of these successful models will be presented.
No company can survive without being innovative, either through new product development, employing new cutting edge technologies, exploring new markets, or indeed, creating new markets and segments where none previously existed. Innovation must work hand in hand with a structured situation where the “chaos” is organized and the growth is managed. Conference participants will have the opportunity to be apprised of this critical area of business development.
