TT Chamber inducts 3

The event was held at the Hyatt Regency, Port-of-Spain.

Maharaj was awarded “Master Entrepreneur of the Year” and will be representing this country next year in Monaco at the EY World Entrepreneur of the Year. In his acceptance speech he thanked the organisers for the “tremendous acknowledgement” of what his company has achieved and will continue to achieve.

He said that 37 years has been a “long haul” and the company was started with the dream of providing makeup for multicultural women and a vision to create a premium brand that could compete with international brands.

He reported Sacha Cosmetics is now seeking to get into the India market and get access to a billion people of different skin tones.

Also at the event Label House Ltd won the inaugural “Internationally Known...T&T Owned” award, Jenny’s on the Boulevard owner Jennifer Dan Sharma won the “Winning Women Award”, online grocers Market Movers beat out Anya Ayoung Chee Ltd. and Cocobel Chocolate for the “Emerging Entrepreneur” award and former Furness Company chairman Ignatius Ferreira and late former Caribbean Chemicals founder Joe Pires Snr were inducted into the Business Hall of Fame.

Chamber President Robert Trestrail in his opening remarks commented on the Central Bank report that this country’s GDP had declined by 6.7 percent. He said that it was no better occasion to celebrate the success of people.

“Because out of crisis there is opportunity,” he added.

He also spoke of the economic situation local businesses face.

“We have been confronted by the unstoppable and powerful external forces such as globalisation, low oil prices and lower manufacturing costs by countries like China, India and Latin America.

Combined with our own economic constraints, these forces meant for many of you, the urgent need to restructure and to employ creative approaches to the way we do business.

And yet, here we are, in an atmosphere that is truly befitting of the esteemed awardees and guests in attendance, showcasing those who, despite the challenges, have excelled and delivered exceptional performance in the sphere of business,” he said.