There are approximately 15,500 Micro and Small Enterprises (MSEs) in Trinidad and Tobago as per the Central Statistical Office’s (CSO’s) Register of Business Surveys Establishments Register 2018, accounting for approximately 60% of the total establishments on the Register. For the MSE Sector to continue to survive and thrive; it must be supported by a robust policy framework with buy-in and relevant/timely action from all stakeholders.

Since the drafting of the last Micro and Small Enterprise (MSE) Development Policy for Trinidad and Tobago (2014-2016), there have been major changes in the business environment that affected Micro and Small Enterprises (MSEs). MSEs are very important to the overall development of Trinidad and Tobago’s economy. However, many of them faced several challenges such as: access to business intelligence/information; the ability to access export markets; access to finance; lack of economies of scale and quality standards; foreign exchange; lack of competitiveness and lack of technical, management and leadership skills.

The Government of the Republic of Trinidad and Tobago’s (GoRTT’s) response to these challenges was to chart a course to sustainable development in the National Development Strategy of Trinidad and Tobago 2016-2030 (“Vision 2030”), Theme IV – Building Globally Competitive Businesses, emphasises the role of entrepreneurship and innovation in contributing to economic development.

MYDNS recognizes the importance of Micro and Small Enterprises (MSEs) to the overall development of the national economy and society.

MYDNS is committed to creating a supportive entrepreneurship environment to anticipate and respond to MSE development needs, thus resulting in greater contributions to national development. In particular, MYDNS is actively working to unlock the entrepreneurial potential of the youth, by promoting young entrepreneurs.

Through the Enterprise Development Division (EDD), the MYDNS is embarking on revising the 2014-2016 MSE Policy in furtherance of the following outcomes.