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Building Legacy Family Businesses

exporTT Limited in collaboration with INVENI Business and Technology Limited hosted a Family Business Forum at the Trinidad Hilton and Conference Centre on Wednesday 5th April 2023.

Titled “ Building a Legacy Business,”

this forum was an extension of exporTT’s Export Accelerator project funded under the Export Booster Initiative (EBI) which sought to make a direct deposit into associated Family Businesses. The event saw thirty-five (35) persons representing eighteen (18) Family Business Companies spanning the following sectors Household Chemicals, Food & Beverage and Personal Care Products. Chem Clean Limited was highlighted as having three generations of participants present in the forum while the majority of companies were represented by first and second generation participants.

Worthy of mentioning were the four (4) companies which hailed from our twin-island Tobago. These included Pinkberri Kosmetique, Tom Toms Confectionery, Tobago Wyck and D Master Cobbler.

The event’s impressive line-up included Family Business Advisor and Keynote Speaker Dr. Annette Rahael who focused on Family Business Governance. Dr. Raheal’s personal experience in Family Business as well as her formal education and certification in the area has uniquely positioned her as a thought leader / practitioner in this field. She also formed part of an esteemed panel which included SME & Family Business Advisor Sajjad Hamid, Dhanraj Harrypersad – General Manager Client Services exporTT as well as Isabel Markwitz of INVENI Business and Technology who jointly fielded questions posed by both family business present and/or Coach Michelle Low Chew Tung of INVENI Business and Technology Limited.

The forum took pleasure in welcoming Coach Isabel who travelled twenty-seven (27) hours to Trinidad and Tobago from Germany to be with team in-person. Isabel is the founder of Bonora Consulting and is passionate about helping young businesses to flourish in their market of choice. She serves as a Business Coach with INVENI on the Export Accelerator programme.

After a successful corporate career in technology and Agri-tech multinationals in Europe and Asia, Isabel started to take an active role in the startup and family business environment worldwide. She has been involved in setting up an acceleration program to support start-ups in scaling in Southeast Asia and continues to mentor founding teams and executives with a focus on general business planning and scaling operations. She loves to engage in an open conversation to challenge others in their growth and change aspirations.

Participants were also invited to attend one of two working groups of choice with Coach Michelle and Isabel which focused on Managing Family and Employees Expectations and Succession Planning respectively. Each group interrogated salient aspects of topics examined and identified key takeaways to be implemented in their family business post forum.

Special features on the day also included an interview by Coach Isabel with Dolporn Pitaksit of Isuzu Shanguan Thai Group who shared on an Asian family owned and run business perspective and demonstrating the similarities and differences and even issues family businesses face globally.

CEO & Co-Founder Sharmilla Bill-Boodlal, shared on DSB Marketing’s experiences as a local Family Business. DSB Marketing is an export company supported on the EBI’s Export Accelerator programme.

The curtains came down on the event with attendees maximizing networking opportunities. exporTT’s staff present were delighted to witness this meeting of minds and through the words of General Manager Operations – Maria Padilla-Benjamin expressed a continued commitment to spotlight T&T best as well as fully embrace its Growth partner calling.

We are exporTT, creating a world of opportunities of Exporters!

China (Zhejiang) - Trinidad & Tobago International Trade Fair | Economic & Trade Exchange Conference

Lots 20-22 Trincity Business District, Zone 6, Trincity was a blaze on Saturday as hundreds of persons visited the First Caribbean Marketing Company (FCMC) compound to catch a glimpse of the 19 Chinese businesses and 7 local exporters showcased while taking advantage of the one-day unrestricted shopping at the main store. This event was kicked off in style the evening before with the conference which allowed the audience to learn of the export and investment opportunities available in both Zhejiang and Trinidad and Tobago. Visitors were later treated to local cuisine and some of Angostura’s premium rums.

Through a partnership with the First Caribbean Marketing Company Limited, the Department of Commerce of the Zhejiang Province, the Ministry of Trade and Industry, exporTT and invesTT, this international fair saw businesses from Zhejiang Province, China and local non-energy manufacturing companies creating a stir that yielded increased brand awareness as well as sales for many companies showcased.

Zhejiang exhibitors and visitors to the fair had the chance to savour the flavours of the sweet and tangy sauces and spicy aromatic seasonings produced by local exporters: RHS Marketing Limited, Habanero Trinidad Peppersauce and Chief Brand Products. Sampling and purchasing sweet treats of chocolate made from fine flavour Trinitario cocoa by Trinidad and Tobago Fine Cocoa Company, Montano’s and SugarCane Rum Cakes was also a highlight of the day.

Angostura’s Chill line of Lemon Lime & Bitters, tangy Blood Orange & Bitters and Sorrel & Bitters was a welcomed feature on the exporTT / InvesTT information desk as it aided in drawing the crowds. Staff from both entities were present to field inquiries and recommend opportunities for trade and investment between China and Trinidad and Tobago as well as the world.

A diverse product portfolio was exhibited by Zhejiang exporters this included but is not limited to disposable tableware, home goods, outdoor equipment, textiles for garments, uniforms, and other apparel, industrial & electrical equipment and tech accessories.

Many were seen leaving with among other things clothes, plants, crockery, office furniture and décor pieces as they made their way out of the compound.

This Trade Fair and conference occurred right on the heels of another visit from principals of the Shanghai-based Global Orient International Company. This company is one of the organisers of the China International Import Expo and has been instrumental in exporTT’s participation in 2021 and 2022. During a short welcome reception at Hyatt Regency Hotel on Wednesday 29th March. At this event, Trinidad and Tobago’s Minister of Trade and Industry confirmed our participation in CIIE 2023.

This group had a packed agenda including Visits to the Chinese Embassy / Shanghai Construction / FCMC / TT Fine Cocoa Company’s factory before leaving on Friday 31st. The activities culminated in the Trade Fair and Exchange on Saturday 1st April 2023.

exporTT looks forward to its continued partnership with Mr. Charles Cheng CEO of First Caribbean Marketing Company Limited (FCMC) and the Chinese Embassy in Trinidad and Tobago as together we forge deeper trade ties with China and Trinidad & Tobago.

The Exportant 2023

We are excited to share this year’s issue of the Exportant. See what we’ve been up to, what’s coming up and what new services or…

JAMPRO details export objectives

It was an honour to attend JAMPRO’s cocktail reception at the Hyatt Regency Trinidad last Thursday. JAMPRO’s new President, Shullette Cox, and Senator The Honourable Aubyn Hill, Minister of Industry, Investment and Commerce, Jamaica, shared exciting facts about JAMPRO’s current activities and plans.

They also delved into the Special Economic Zone and the Jamaica National Agency for Accreditation.

Did you know?

The Jamaica National Agency for Accreditation is the one of the very few in the world that can accredit labs for testing related to international standards, including those related to the FDA.

Key initiatives were discussed that should contribute significantly to the Jamaican export thrust. These were:

Improvements in the ease of business – so that all approvals and licenses can be attained online, without the intervention of the Minister.
Reduction in taxes related to investments.

Minister Hill’s presentation was captivating. Coming from the private sector, he connected well with the audience, understanding businesses’ pain points and clearly articulating what Jamaica is doing to relieve them.

Finally, networking was a highly enjoyable end to this event as I was reunited with contemporaries whose faces I had almost forgotten and made new acquaintances I intend to keep in touch with.

At exporTT, we are actively working towards improving our ease of doing business and we will continue our efforts in taking our companies to key export markets.

Next up will be The Dominican Republic and Colombia in May!

exporTT supports TTMA’s Grenada Mission

2023 commenced with exporTT accompanying its strategic partner the Trinidad and Tobago’s Manufacturer’s Association (TTMA) on its planned Mission to Grenada. Partly funded under the Export Booster Initiative, this Mission also saw the physical presence of the Minister of Trade and Industry, Senator the Honourable Paula Gopee-Scoon, Deputy Permanent Secretary, Mr. Randall Karim, exporTT’s General Manager Dhanraj Harrypersad and exporTT’s Client Services Officer Antoinette Spencer, along with a delegation of 35 participants.

Participating manufacturers benefitted from Business to Business (B2B) meetings to maximise and strengthen trade relations with their Grenadian counterparts. They also learned about doing business in the country from key agencies such as the Port Authority, Customs and the Bureau of Standards. There were also ample opportunities for participants to network with their would-be partners as well as each other to identify and realise synergies for exports like the consolidation or shipments or the offering of complimentary goods or services.

Speaking on behalf of Minister Gopee-Scoon at the seminar, Mr. Karim shared “We have identified that Grenada is an essential market for the following sectors; chemicals, printing and packaging, construction products and most importantly, food and beverage. From the Government of Trinidad and Tobago’s perspective, this visit is timely as it aligns with our strategic efforts to increase the value of non-energy exports over the next three years.” “This visit would serve to reinforce the principles underlying the revised Treaty of Chagaramas which is aimed at promoting the regional production of goods and services, especially with a view to maximising foreign exchange on the basis of international competitiveness.”

Grenada and Trinidad & Tobago have long enjoyed trade relations with Trinidad and Tobago emerging as Grenada’s largest exporter. This is substantiated by data from the Central Statistical Office of Trinidad and Tobago that ranks Grenada as the fifth largest CARICOM export of Trinidad.

exporTT looks forward to supporting under the Export Booster Initiative further partnerships with the TTMA and other strategic partners in alignment with the Government of Trinidad and Tobago’s strategic initiative geared towards increasing the value of all non-energy exports over the next three years.