When it comes to the support for SMEs, as a mechanism for export development and promotion, across the globe the public/private mechanics suffer from two things — duplication in resource planning and allocation, in which the possibility of deep focus is lost and secondly, considerable bureaucratic overlap in export development and promotion, across both the private sector organisations and public sector policy and institutional framework.
Click the link above and read Part 2 of my Newsday column
Click the link above and read Part 2 of my Newsday column
2 comments:
Too true. The consultants showed T&T how to 'look' like they ahve a plan. Note the many offices for development, but if you visit any as I did, you will see that thought stops at the door.
There is no road to wealth creation. There are just road signs. These roadsigns, like Vision 2020 are more a political decoy than a political intent. WHY?
With wealth creation comes personal economic independence. The government of T&T has a system that feeds on ecoconomic dependence (on government). Thus the developmental needs of the country are in conflict with the needs of the governing party. That this system exists, shows our political (im)maturity. Unfortunate to live in a paradox>
SMEs are good for creating jobs. However in T&T as 50% of exports are gas derived and 30% oil derived, when these stumble, there is massive revenue fall. The SMEs will then be in big trouble even for a local market. If they exported to CARICOM, they will also see major market contraction as these other economies are badly impacted. Many of the new SMEs will close or retrench.
What T&T needed, but neglected, was start-ups with market based on exports derived on foreign patents (say by nationals with views of the USA or Canada, Brazil, markets). Too late now, however. WE missed the boat. These start-up take a long time to viability and we don't have time and still don't have the Start-up enabling infrastructure.
Vision 2020 was anempty promise. I feel that it's reality more of a planned decoy. It worked. The people of T&T distracted by race have failed again.
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