Business resilience trends and evidence-based policy proposals in Trinidad and Tobago

Part 1 of the study is based on the compilation and analysis of data points extrapolated from the online questionnaire which was developed by the ILO and administered by the ECA to its members and a cross-section of other stakeholders. This is supplemented by a series of in-depth interviews with ECA members who completed the questionnaire, coupled with a select number of Government officials, industry leaders and business continuity professionals. This is essentially a quantitative exercise.

Part 2 of the study is based on a synthesis of key takeaways from the online survey and the qualitative interviews, as well as open-source literature. This is followed by twelve recommended actions grouped under the following seven thematic headings:

Theme 1: Developing an updated and more appropriate Government small and medium-sized enterprise (SME) policy framework that includes a focus on business resilience;
Theme 2: Enhancing the role and function of Government bodies in collaboration with industry bodies to take the lead in strengthening the nation’s business resilience among SMEs;
Theme 3: Scaling up the provision of business resilience advisory services to SMEs; 
Theme 4: Enhancing the role and function of the National Entrepreneurship Development Company Limited (NEDCO) and other financial institutions in promoting business resilience among SMEs;
Theme 5: Increasing the quantum of business resilience professionals;
Theme 6: Enhancing the community outreach of the ECA’s SURE business resilience training course; and
Theme 7: Scaling up awareness of the benefits of business resilience.