IIC’s FINPYME provides technical assistance on Value Chain Management to SMEs in Trinidad and Tobago
Port-of-Spain, Trinidad and Tobago — On October 21, 2011, the Inter-American Investment Corporation (IIC) held a workshop introducing the value chain analysis methodology and its application to help SMEs better understand their business in terms of value-generating activities. This was the third FINPYME workshop held in Trinidad and Tobago, in collaboration with Business Development Company Limited.
The FINPYME Technical Assistance program, developed by the IIC and financed by the Korea-IIC SME Development Trust Fund, is geared towards small and medium-sized enterprises (SMEs) with the goal of improving their competitiveness and facilitating their access to potential sources of financing. This particular workshop was designed to disseminate knowledge on value chain management. In particular, a local consulting company, Waypoint Limited, developed the value chain analysis methodology which creates a competitive advantage and, by extension, shareholder value.
FINPYME was launched in 2009 in five countries of the Caribbean: The Bahamas Barbados, Belize, Jamaica, and Trinidad and Tobago. Since then, the IIC has provided diagnostic reviews and technical assistance to select SMEs. This workshop officially marks the completion of the FINPYME program in Trinidad and Tobago, following 20 SME diagnostic reviews and workshops on matters including international and e-marketing on November 2010 and May 2011, respectively.
Michael Apel, Senior Trust Fund and Technical Assistance Officer at the IIC, expressed his satisfaction with the FINPYME program in Trinidad and Tobago. "This is the final FINPYME workshop in our series here in Trinidad and Tobago. It has been a particular pleasure for the IIC to work with our partners in delivering this level of technical assistance to the companies that most need it in Latin America and the Caribbean: small and medium-sized companies. Looking forward, the IIC plans to consult with our partners in order to plan future activities to assist SMEs in Trinidad and Tobago."About the Business Development Company Limited (BDC)
Established in August 2002, BDC offers an impressive and comprehensive portfolio of solution-driven products and services. These include consultancy services, export certification, financial support services, international business promotion support services, trade assistance, training, and business advisory services.About the IIC
The IIC is a multilateral financial institution that is a member of the Inter-American Development Bank (IDB) Group. The IIC’s mission is to promote the economic development of its regional member countries by encouraging the establishment, expansion, and modernization of private enterprises, particularly those that are small and medium in size. It does so by providing financing (in the form of equity investments, loans, guarantees, and other instruments) and advisory services to private enterprises in Latin America and the Caribbean. In 2010, the IIC reached US$1.4 billion in assets and approved 49 operations, channeling US$374.8 million to SMEs in the region. For more information on the IIC’s activities, please visit www.iic.org
Contact: Narae Lee
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