分类： business

Small and micro-businesses are the lifeblood of Trinidad and Tobago, driving innovation and sustaining communities. Yet, these enterprises often operate with minimal support, bearing immense responsibilities. Lara Dowell, a Committee Member at NOVA SME Development, highlights the challenges faced by entrepreneurs during the TT Chamber of Industry and Commerce’s 2025 Champions of Business gala. This year’s Global Entrepreneurship Week theme, ‘Together We Build,’ underscores the need for a collaborative approach to bolster small businesses. Entrepreneurs in TT juggle multiple roles—from operations to compliance—while navigating unclear regulations and securing financing. The journey of a small business owner is not one of failure but of resilience in a system that demands too much from individuals. Dowell emphasizes the importance of professional networks, large institutions, and community support in creating a robust entrepreneurial ecosystem. Professional networks provide shared knowledge and mentorship, while large institutions offer procurement power and market access. Communities and families form the emotional backbone, celebrating small wins and offering encouragement. Leadership development is crucial for business sustainability, as emotionally intelligent leaders foster resilient teams. Public-private collaboration is essential to simplify regulations, improve access to financing, and support digital transformation. Dowell calls for a national effort to strengthen the village around small businesses, ensuring their growth and success. By standing together, we can build a future where every entrepreneurial idea has the opportunity to thrive.

BP Trinidad and Tobago (bpTT) has announced the successful completion of its Cypre gas field development, marking a significant milestone in the region’s energy sector. The project, which involved drilling seven wells tied back to the existing Juniper platform, achieved first gas delivery in April 2025. The final three wells were drilled, completed, and commissioned recently, bringing the entire development to fruition. At its peak, Cypre is expected to produce approximately 45,000 barrels of oil equivalent per day, equivalent to 250 million standard cubic feet of gas daily. This makes Cypre bpTT’s third subsea development. David Campbell, bpTT president, emphasized the project’s success as a testament to the company’s commitment to maximizing production from the Columbus Basin and its ongoing investment in Trinidad and Tobago’s energy sector. The Cypre gas field, located 78 kilometers off the southeast coast of Trinidad in the East Mayaro Block, is entirely owned by bpTT, a joint venture between bp (70%) and Repsol (30%). Former Energy Minister Stuart Young lauded the project’s completion, highlighting its importance in offsetting the natural gas decline in the region. The development, negotiated between 2017 and 2023, underscores bpTT’s dedication to unlocking Trinidad and Tobago’s energy future.

In a significant move to bolster professional development and leadership in the Caribbean, two prominent mentorship programmes have been launched. The Human Resource Management Association of TT (HRMATT) initiated its Youth Mentorship Programme on October 4, followed by the Arthur Lok Jack Global School of Business Alumni Association (ALJGSBAA) on October 11. These initiatives aim to bridge the gap between academia and industry, fostering the next generation of leaders.

HRMATT’s programme targets ambitious youth aged 16-35, connecting them with seasoned professionals to build workplace readiness, career direction, and networking opportunities. The six-month programme, starting at the Cipriani College of Labour and Co-operative Studies, is designed to provide crucial guidance often missing for newcomers in the workforce.

The ALJGSBAA’s initiative, exclusive to its current students and alumni, pairs mentees with accomplished graduates, including C-Suite leaders and entrepreneurs. This programme focuses on guiding students through academic and professional challenges, expanding networks, and facilitating knowledge transfer across generations.

Both programmes underscore the importance of mentorship in today’s rapidly evolving workplace. Mentorship offers human insight, lived experience, and encouragement, which are invaluable in navigating the complexities of modern career paths. These initiatives not only benefit mentees but also provide mentors with opportunities to give back, share wisdom, and leave a lasting legacy.

The alignment in leadership between HRMATT and ALJGSBAA creates opportunities for collaboration, joint events, and expanded mentorship networks. The programmes have garnered support from various partners, highlighting the significance of mentorship as a national priority. However, there is a call for more partners to join this transformative movement.

As these initiatives look to the future, their vision is clear: to expand reach, deepen impact, and unlock the potential of emerging talent across Trinidad and Tobago. Mentorship is more than guidance; it is a catalyst for transformation, building a vibrant, interconnected ecosystem that empowers individuals and strengthens the region.

Critical illness insurance is a financial safety net designed to provide a lump-sum payment upon the diagnosis of a severe medical condition such as cancer, heart attack, or stroke. Unlike traditional health insurance, which primarily covers medical expenses, this policy offers flexibility in how the funds are utilized—whether for hospital bills, income replacement, daily living costs, or long-term financial planning. This type of insurance is particularly valuable as it addresses the broader economic impact of serious illnesses, which can disrupt earnings and deplete savings. Globally, the critical illness insurance market was valued at $192.3 billion in 2022 and is projected to expand significantly in the coming years. Despite its importance, only 12% of adults in the UK, for instance, have such coverage, even though one in three individuals is likely to face a critical health condition in their lifetime. In Trinidad and Tobago, non-communicable diseases like heart disease and cancer are leading causes of mortality and healthcare demand, underscoring the relevance of this insurance. For families, especially those reliant on a single income, critical illness insurance ensures financial stability during challenging times. Purchasing a policy early, while young and healthy, can also result in lower premiums. Ultimately, this insurance is not just about preparing for the worst but about protecting one’s legacy, dignity, and future.

The latest Global Economic Conditions Survey (GECS), jointly conducted by the ACCA and IMA, has revealed a slight decline in confidence among global accountants in the third quarter of 2025, following a modest recovery in the previous quarter. The survey highlights persistent caution regarding global economic prospects, with key indicators such as the Global New Orders Index and Capital Expenditure Index hitting multi-year lows. The Employment Index also remained subdued, reflecting sluggish job markets across several economies. Jonathan Ashworth, Chief Economist at ACCA, noted that while the global economy showed resilience in the first half of 2025, the third quarter’s declines suggest a potential slowdown in global growth in the coming months. Despite this, he emphasized that a major economic downturn is not imminent. Regionally, North America saw a significant rise in confidence, driven by improved sentiment among US accountants, though the forward-looking New Orders Index plummeted to its lowest level since the pandemic’s peak in 2020. Alain Mulder, Senior Director at IMA, highlighted ongoing uncertainty in the US economy, with slowing job markets but solid GDP growth. In contrast, Western Europe experienced a sharp decline in confidence, particularly in the UK, where fears of upcoming tax hikes weighed heavily on sentiment. Meanwhile, Asia Pacific’s confidence improved, buoyed by global economic resilience and reduced tariff-related uncertainty. The survey also underscored the growing prominence of cybersecurity as a critical risk, transcending IT departments to become a governance and cultural issue across sectors and regions.

In a landmark ruling, the High Court has adjudicated on the $30 million fraud case involving ANSA Merchant Bank (AMB) and its former employees. Justice Frank Seepersad, in a comprehensive 100-plus page judgment, dismissed claims against four former employees but found former business development officer Dwayne Rojas guilty of breaching contractual and fiduciary duties. Rojas was implicated in a fraudulent loan scheme, colluding with roll-on/roll-off car dealers to defraud the bank of $30 million over two and a half years. The scheme involved falsified job letters and fabricated vehicle documents, with non-existent vehicles listed as loan collateral. Justice Seepersad ruled that Rojas knowingly processed fraudulent applications, causing substantial financial loss to AMB. The court also dismissed cases against Zaria Sankar, Reyvaan Rampersad, Kerry Ramsaroop, and Adriana Ramsingh, citing insufficient evidence of wrongdoing. However, summary judgments were granted against five roll-on/roll-off companies, ordering them to repay $24 million. Justice Seepersad criticized AMB for targeting junior staff while neglecting to hold senior officers accountable. He highlighted the bank’s inadequate internal controls and risk management practices, which facilitated the fraud. The judge recommended that the case be forwarded to the Director of Public Prosecutions and the Commissioner of Police for potential criminal charges. Additionally, he urged the Minister of Trade, Industry, and Tourism to review the operating licenses of the implicated dealerships. The ruling underscores the need for stricter financial oversight and accountability in the banking sector.

In a world where online marketplaces often expose sellers to risks of fraud and theft, Quincy Richards, the founder and CEO of Bamboo Marketplace, is pioneering a safer alternative. Launching in February next year, Bamboo Marketplace aims to eliminate the dangers associated with face-to-face transactions by offering a secure, cashless platform for buying and selling electronic devices. Richards, an account manager in a telecommunications company, was inspired to create the platform after a close call with a fraudulent buyer during a personal phone sale. His vision is to provide a seamless, contact-free transaction experience, ensuring both buyers and sellers can operate without fear of scams or physical harm. The platform utilizes an ‘Escrow’ system, where funds are held in a digital wallet until the item is delivered via Aeropost’s smart lockers across 14 locations in Trinidad and Tobago. Additionally, Bamboo Marketplace offers a 24-hour warranty and a dispute management team to address any issues post-purchase. With rigorous verification processes, including AI-driven identity checks and device serial number validation, Richards is confident that Bamboo Marketplace will set a new standard for safety in peer-to-peer online transactions. The platform also caters to businesses, offering subscription plans that exempt them from transaction fees and expand their market reach. Richards envisions Bamboo Marketplace becoming the go-to platform for secure online transactions, ultimately eradicating the recurring issue of fraud in the digital marketplace.

In a significant development, prominent businessman Danny Guerra was apprehended on November 20 under the state of emergency (SoE) provisions by the Special Investigations Unit. Guerra, the manager of D Guerra Ltd and owner of multiple companies under the D Guerra Group of Companies, faces allegations of unlawful aggregate processing without a license from the Ministry of Energy. This arrest follows a major police operation on October 9, which targeted an illegal quarry in Manuel Congo, Guanapo. The operation led to the shutdown of the site and the confiscation of a multi-million-dollar processing plant, trucks, and heavy machinery. Guerra, along with his son Garvin Guerra and 16 others, was detained during the raid. Earlier, on October 11, Guerra and his son had been charged and granted $50,000 bail each by a Justice of the Peace. Additionally, on October 10, Guerra, his son, a supervisor from D Guerra Ltd, and Carmino Ltd director Rolf Ferriera were taken to St Augustine Private Hospital under police guard for medical treatment after reportedly falling ill during detention. The case has drawn significant attention due to Guerra’s prominent business stature and the scale of the alleged illegal operations.

InfoLink Services, the interbank agency responsible for ACH electronic transfers and the Linx cash payments system, marked its 30th anniversary on November 14, 2025, at the Hyatt Regency in Port of Spain, Trinidad and Tobago. The event highlighted both the agency’s achievements and the challenges it faces in an evolving electronic payments landscape. Central Bank Governor Larry Howai praised InfoLink for its critical role in ensuring smooth, secure, and efficient payment processing, calling it a cornerstone of the country’s retail payment system. However, he also emphasized the need for innovation to meet rising consumer demands for faster, more convenient, and secure payment options while maintaining financial stability and inclusion. InfoLink, which began operations in 1994, introduced Linx in 1995, revolutionizing cashless transactions in Trinidad and Tobago. Over the years, it has expanded its services to include Automated Clearing House (ACH) electronic transfers and electronic check clearing, managing 41% of the country’s electronic payments. Despite its success, InfoLink faces increasing competition and the need to adapt to advanced technologies like AI, which are transforming both payment systems and the methods criminals use to exploit them. Glynis Alexander-Tam, InfoLink’s general manager, stressed the importance of collaboration and innovation to meet customer expectations for instant payments and enhanced security.