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Small businesses can spur economic growth

Published: 
Saturday, April 29, 2017
Banker turned entrepreneur:
Housing Minister Randall Mitchell, centre, cuts the ribbon to officially open San Fernando’s newest restaurant, Hidden Treasures—Bottles & Bites, at Tradewinds Hotel in St Joseph Village, San Fernando, on Thursday. Also in photo from left are Brent Kowlessar, Wayne Kowlessar, Local Government Minister, Kazim Hosein and Councillor Anderson Williams. PHOTO: TONY HOWELL

As international agencies continue to downgrade T&T’s ratings and amid the growing concern about new taxes and foreign exchange shortages, banker turned entrepreneur Wayne Kowlessar is saying that the creation of small businesses can stimulate economic growth in the country.

Housing Minister Randall Mitchell agreed, as he praised Kowlessar’s family for their initiative in launching a new restaurant, located a t the Tradewinds Hotel, San Fernando, on Thursday evening.

Mitchell cut the ribbon, along with Kowlessar and Rural Development and Local Government Minister Kazim Hosein, to open Hidden Treasure—Bottles and Bites, which specialises in sushi, tapas and wines. The restaurant is managed by Kowlessar’s son, Brent.

“I have always been passionate about the importance of small businesses and entrepreneurships to our economy in Trinidad,” Kowlessar, the restaurant director said at the opening which was attended by Justice Anthony Lucky, businessman Mario Sabga-Aboud and attorney Martin Daly, who chaired the event.

“The key advantage to ventures such as these is that they create employment, help to alleviate unemployment levels and provide individuals seeking employment with jobs and learning opportunities.”

He advanced that the creation of small businesses can also facilitate economic growth and enable innovation, especially among the young people and thriving population who are yearning for ways to grow.

“With proper access to resources and small funding options from the government, Trinidad can continue to grow it’s economy through entrepreneurial ideas. This can also start from as early as education in secondary schools and tertiary education where students are exposed to this career path and given guidance on how to succeed in such an industry,” he advocated.

“We need to also remember that small businesses is a broad topic that can span over many industries—food and beverage being one, but certainly not limited to it. This country has a lot of talented individuals and with the support of the government as well as other experienced entrepreneurs from various industries, young people with creative minds can become very successful in this field.”

Celebrating the Kowlessar’s entrepreneurship, creativity and community, Mitchell also acknowledged the risks they would have taken to launch this enterprise.

“And this is something we need now more than ever in our country as there must be reduced reliance on the state to provide employment or business opportunities. I look forward to the development of this community with the opening of this restaurant,” he said.

Kowlessar said he intends to expand in the near future.

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