Nimble or nothing

I listened with interest to the views of many business owners about their vison for the year 2020. Some would like to see the modernisation of the port so that they can export their goods more efficiently. Others would like to see the VAT office process their refunds faster, others clamour for faster processing of their documents by the customs and excise division, others want the minimum wage reduced and so the list continues. Certainly these are all attributes of a developed nation, but in my view there is something missing from the equation. The views listed above and many expressed by small and medium enterprises (SME) are very short-term and would not make us a developed nation by themselves.

What part are the small and medium enterprises going to play in national development?  Being an employer and paying taxes is not the end of your responsibilities. That is being minimalist in your thinking and the rewards would also be minimal. SME’s must now view with some concern their role in taking Trinidad and Tobago to developed nation status by the year 2020. Keep in mind that the developed nations are not standing still.  If it is our aspiration to be like them as they are now, in 2020 they would have evolved to a much more advanced state. This would mean that we would still have a long way to go again before we catch up to them.                                              

CORPORATE RESPONSIBILITY  
SME’s must now look at their Corporate Social Responsibility and their Corporate Civic Responsibility. This is not the domain of large corporations only. We could all find fault with any government in power and certainly governments must be conscious of their short comings and work assiduously to improve.  But businesses, small, medium and large do have their roles to play. They must stop finding faults with the governance system and become a catalyst for change. To present the government with a wish list of items that needs to be improved is not good enough. This change must not be only in their interest but in the interest of the nation.  SME’s have to introspect and see where they can begin the change themselves.

They could start by the simple things such as paying employees their correct wages, ensuring employee’s NIS and Health Sur Charge are paid when it is deducted. There is no doubt that there are many who are guilty of these offences. This may sound too simplistic but check with the NIS office and you would be amazed at the number of people who claim that their contributions were deducted every month but only to realise that it was never paid to the relevant authorities. Have you ever been to a store and was asked if you need a bill at the cashier?  Guess who is cheating the VAT office there?  What about your mechanic at the garage pouring your used motor oil down the drain? Surely you can come up with a few more examples of your own. To my horror I heard a wholesale merchant complaining that the Prime Minister did him a great injustice by having businesses close on the eve of Hurricane Emily. He complained that he was going to lose business. So what of his employee’s safety? Do you see the selfishness here?                                                   

COMPETE, COMPETE
SME’s are quick to say that they are now trying to carve out a niche for themselves and do not have the resources to compete at this level. But that is no excuse. There is a lot of talk about making Trinidad and Tobago the Singapore of the Caribbean; but do you know the level of discipline that is required for such a transformation. So what is the solution? Some might say that the government agencies do not perform their regulatory and enforcement duties well enough.  Must there always be the threat of a penalty for businesses to comply? If that is the case then our vision for 2020 should be that of a police state. What a waste of resources for the state to be policing SME’s when they are already given so much institutional support. Yes, there is institutional support for SME’s, how well they access it is another story.

Crime is not limited to gang warfare but these seemingly small misdeeds by businesses add fuel to the fire. Businessmen may be surprised at what these little changes can lead too. What is required is a change in attitude. Large corporations have their part to play as well but I am focusing particularly on micro, small and medium enterprises as there are some entrepreneurs in this category who think they are exempted. Every sector must bear its fair share of responsibility for us to be counted among the developed nations. No one can stand at the sidelines and direct the game. We are all players.

In the developed world over sixty percent of the workforce is employed by companies with twenty employees or less. This means that SME’s are a vital part of our national development but they must begin to harness the power they have. Becoming a developed nation is not an elusive goal. Entrepreneurs can begin the process by changing their own organisations rather than wait and see what the others are doing.

email: bhushansingh@tstt.net.tt.