Micro, Small and Medium Enterprises (MSMEs) account for roughly 85% of all registered businesses in Trinidad and Tobago. In any given year they can experience hazards and risks such as; Crime, corruption, natural disasters, hazardous material spill, industrial fire; livestock disease; pandemic and epidemics; protests and civil unrest; ransomware and other cyber-attacks; strikes; utility outage (electricity, water, internet); wildfires; workplace accidents; biodiversity loss.
In 2022, the ECA partnered with the ILO's Decent Work Team and Office for the Caribbean to conduct a study on business resilience trends and practices in Trinidad and Tobago (T&T). Given the issues and impacts we have all faced since 2020 because of the COVID-19 pandemic, the ECA felt that this exercise was an important one as we continue to work towards building back better while preparing for any future eventualities as businesses.
In this regard, we are pleased to present the outcomes and recommendations arising out of this exercise via the following research report, together with key policy proposals for consideration.