SME High-Level Symposium, Trinidad: 5th June 2008

The High-Level SME symposium which was held June 5th brought together about thirty (30) high level officials, bankers and professionals who are closely involved in SME development in the Caribbean. The four main themes of the seminar provided a broad framework for outlining a Strategic Plan for the growth of SME in the Southern and Eastern Caribbean. The seminar involved “roundtable discussions” on each theme led by three presenters. The objective of the seminar was to develop new thinking and share ideas among key persons involved with or responsible for the growth and development of SME in the Caribbean.

The four main themes of the seminar

All SME surveys world-wide always identify access to finance as an over-whelming need yet most funding sources are generally unable to meet their portfolio expectations. Is access to finance a problem for SME in the Caribbean?

Imports from China, Brazil and India and a competitive resurgence of the US economy will change the Caribbean business environment under stress from inflation and infrastructure deficiencies. Assuming adequate access to finance and technical assistance, are SME in the Caribbean sustainable? What are the critical issues?

“The literature suggests that a focus on improving the institutions and the overall business environment is probably the most effective way of relaxing the growth constraints SMEs face and facilitate to their contribution of economic growth. However, institution building is a long term process and in the interim innovative lending technologies hold promise, providing market friendly ways of relaxing the constraints SMEs face.” What institutions do we need to develop? What problems require innovative lending technologies?

In a survey carried out in Trinidad and Tobago, Barbados and Guyana, firms were asked to rank their needs based on a list of items considered to be universal needs. Based on the surveys, it seems that any regional strategy should be differentiated and that the needs require specialized programmes. There are many international, regional and local agencies and financial institutions involved with SME in the Caribbean. How can we ensure effective co-ordination in meeting SME needs involving differentiation and specialization?

Back Row:
Milton Awing; Jose Jorge Saavedra; Philip J. Pierre; Anthony Pierre; Anthony Whitehouse; Edward Muller; Rene van Essen

Middle Row:
Jan Wimaladharma; Haydn Salick; Rigoberto Ordonez; Edgar Rivera; John Miller; Gary Voss; Christopher Sambrano; Gerard Pemberton

Front Row:
Richard Joseph; Sita Mangal; Gillian Golah; Kate Naughton; Prakash Dhanrajh

Missing:
Wayne Dass; Kelvin Sergeant; Peter Blackman

Presentations and Transcripts

Photo Gallery