From 2021, in the midst of the covid19 pandemic, businesses worldwide were left with no choice but to make a massive shift and use technology to stay afloat. People did everything online, from getting food to working.
Now, the Government is promoting a policy of digitisalisation. Plans came up in the 2021-2022 and the 2022-2023 budgets for turning Trinidad and Tobago into a digital nation.
Communications officer of SkillPik Natalie Williams agreed with the plan and said there is much to consider for the fiscal year, summing up her perception of the Government's digitisation plan in one simple quote: "Supporting innovation will ultimately encourage growth."
She said, “Further tax exemptions for tech companies will therefore play a significant role in
stimulating digitisation in the industry and recognising innovation on a national scale can provide further incentive.”
This comes after Finance Minister Colm Imbert had announced, in the 2021-2022 budget, a five per cent reduction in tax for three years for small-medium enterprises whose core purpose is digitisation.
Williams said organisations also have a role to play, which is offering funding and assistance in the form of new technology, and can also cultivate networks in financial institutions, universities and other organisations.
“These networks and the information flow at their disposal will enable the reduction of many of the risks associated with new enterprise formation and thus overcome many of the barriers that hold back innovation.”
She added that another way of achieving this would be to create a working environment that will result in stability and assured results.
“Foster an enabling environment by ensuring the legal and regulatory framework accommodates the continued transformation. There has to be alignment to the global economy so that foreign investors are not prevented or deterred, and...local businesses feel enticed to also transform the way they do business.”
In addition, she said, national initiatives and policies must be executed swiftly, as they are crucial for the transformation.
This comes after projects such as cashless transactions, WiFi hubs, digital-skills training hubs and online local marketplaces were mentioned in the last two budget readings.
“As we attempt to close the digital divide, we must also recognise the opportunity to learn from other countries and develop tailor-made solutions which are specifically geared to address our own unique needs in TT. Shifting culture at a faster pace may amplify competitiveness on a global scale, which can reduce the gap between words and actions as technologies develop at an exponential rate.”
[caption id="attachment_981602" align="alignnone" width="1024"] Shenelle Fife, CEO of De Jeunesse Bath and Body products showcases her itemss to Minister Symon de Nobriga (centre), TSTT CEO Lisa Agard and director Howard Dottin. - Photo courtesy TSTT[/caption]
Williams also mentioned a new cou
