The National Entrepreneurship Development Co. Ltd (NEDCO) - Who's Who in Trinidad and Tobago Business

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The National Entrepreneurship Development Company Limited (NEDCO) was established in August 2002 as a limited liability state-owned organisation mandated to be the implementing agency for Government’s policy on small and micro enterprise development.

Since inception, NEDCO has created positive inroads regarding the Government’s quest for transformation to an entrepreneurial culture in Trinidad and Tobago by the year 2020. The organisation has encouraged and continues to encourage the national community to start small businesses that make the most of indigenous resources and native talents in non-traditional areas. Such businesses have the potential to contribute to value-added activities in the Small and Medium Enterprise (SME) value chain and have high export potential as branded Caribbean heritage products.

The Government’s vision for the small and micro enterprise sector is that of a fast-growing, well-structured, vibrant, innovative and successful organism that would:

· Contribute significantly to the national economy and national
development, as well as to the viable cohesion of communities

· Serve as a main catalyst in the reduction of unemployment and
poverty and in the production of sustainable employment and wealth

· Enhance national competitiveness.

To achieve this, NEDCO has been invested with the prime responsibility of developing a competitive robust SME sector, which clearly contributes to socio-economic national development whilst simultaneously boosting and harnessing the latent entrepreneurial capacity of the people of Trinidad and Tobago. The evidence of this is demonstrated in NEDCO’s current client database, which stands at approximately 7,300 clients from within a wide range of business sectors such as Art & Craft; Fashion & Design; IT Services; Photography/Video Services; Bed & Breakfast; Printing/Desktop Publishing; Security Services; Carpet & Upholstery Cleaning; Child Day Care Centres; Tourism; Landscaping/Yard Maintenance.

To better serve the national community, NEDCO has 11 Regional Enterprise Development Centres strategically located throughout the country – Abercromby Street; Point Fortin; Tunapuna; Chaguanas; Sangre Grande; San Fernando; Barataria Sub-Office (ETIIC); Tobago; Princes Town; Arima and Couva. Additionally, two Entrepreneurial Training Institute and Incubation Centres (ETIIC) have been established in Barataria and San Fernando respectively, and soon will be in Chaguanas and Tobago.

Cognisant of its important role in providing funding for both start-up and existing businesses, three levels of funding have been developed:

· First Level: $1.00 to $50,000

· Second Level: $50,001 to $100,000

· Third Level : $100,001 to $250,000

How is NEDCO different from other small development companies? NEDCO builds on policies, strategies and initiatives already undertaken by the Government of the Republic of Trinidad and Tobago. The company is a “one-stop shop” for entrepreneurial support services, whose main objective is the training and empowerment of the entrepreneur and not just the business.