The small business sector here in St. Vincent and the Grenadines received high commendation from the Center for Enterprise and Development Inc, for their continued unflinching resilience and increasing resolve towards challenges.
In its holiday message to the Nation, CED’s Public Relations Officers and Communications Officer, Keisha Phillips, indicated that the economic shocks resulting from these global events have negatively impacted the small, open and vulnerable economy with its heavy reliance on imported goods and services.
Phillips noted that In this context small businesses find themselves struggling to maintain sustainable profit margins, due to the increased cost of doing business and the slowing of demand resulting from an erosion of real income.
She however said, that the recent display of our Vincentian talent and creativity displayed at “Vincy Expo 22” held last October, certainly gave the CED a glimpse of the enormous possibilities and productive capabilities that exist in St. Vincent and the Grenadines.
CED operates as a Business incubator and it is calling on persons to commit themselves towards pooling their resources in order to achieve real economies of scale, a call that has repeatedly been made over the years and needs to be heeded with a sense of urgency.
Phillips said she hopes that the long-awaited dream of the formation of an active small business organization will become a reality in the new year, which is the most urgent imperative if the sector is to successfully dodge the perilous headwinds approaching and become more competitive.
The CED remains committed to fulfilling its mandate in providing developmental assistance to the small business sector in its effort to promote further economic growth and development.
This year the organization bade farewell to its longstanding general manager, Mr. Felix Lewis, who has been at the helm of the institution since it was established some 20 years ago.
