MYDNSMYDNSClick here to visit our new Enterprise Development Division (EDD) Web Portal. The portal contains vital information such as funding opportunities, training programs, and relevant updates on the work of the EDD.
Economic Diversification | Employment Creation | Wealth Generation
The Ministry of Youth Development and National Service (MYDNS) recognizes the importance of Micro and Small Enterprises (MSEs) to the overall development of the national economy and society.
The Ministry is committed to creating a supportive entrepreneurship environment to anticipate and respond to MSE development needs, thus resulting in greater contribution to national development. In particular, MYDNS is actively working to unlock the entrepreneurial potential of the youth, by promoting young entrepreneurs.
| Size of Enterprise | Number of Employees | Turnover per annum |
| Mini-micro | = 1 including owner/manager | $250,000 |
| Micro | <=5 including owner/manager | $1,000,000 |
| Small | <=25 including owner/manager | $8,000,000 |
The Enterprise Development Division (EDD) has responsibility for developing policies and programmes for the Micro and Small Enterprise (MSE) sector. Its role entails collaboration and forging partnerships with key stakeholders, as well as monitoring the progress of the sector. Their key responsibilities include MSEs, public sector and private sector agencies, the organized labour movement, civil society organisations and international agencies such as; the European Union (EU), CARICOM Secretariat and the International Labour Organization (ILO).
The mission of the EDD is to promote entrepreneurship and foster a more enabling environment for entrepreneurs by developing policies aimed at improving the entrepreneurial climate and spurring economic activity through diversification.
The Enterprise Development Division was established and given responsibility for:
The Co-operative Development Division (CDD) regulates and supervises Co-operatives in Trinidad and Tobago under the legislative requirements of the Co-operative Societies Act, Chapter 81:03 of the Laws of Trinidad and Tobago.
A Co-operative Society is an association of persons who have voluntarily joined together to achieve common economic, social and/or cultural objectives through the formation of a jointly-owned and democratically controlled enterprise. Co-operative Societies operate with principles and values such as self-help and mutual assistance to provide services for their members in a prudent and effective manner. Members make contributions to the capital through the purchase of shares and contribute to income by utilizing the services available.
Every Co-operative Society must be registered under the Co-operative Societies’ Act, Chapter 81:03 of the Laws of Trinidad and Tobago. Each member is treated in an equitable manner and receives a share of surpluses realized.
In Trinidad and Tobago, there are 313 active co-operative societies with an approximate membership of over 600,000 member account holders. Co-operatives have an estimated asset base of over TT$16.5 billion.
Categories of Co-Operatives
There are four (4) broad categories of co-operatives in Trinidad and Tobago as follows:
The CDD strives to create an enabling environment in which Co-operatives can contribute towards the socio-economic development of the lives of its members. The CDD assists Co-operatives through the following services:
Contacts
Commissioner’s Office : 624-4871
Head Office and Other Divisions : 627-5877
The Office of the Registrar of Friendly Societies and Building Societies is responsible for the supervision and regulation of the operations of societies registered under the Friendly Societies Act Chap. 32:50 and Building Societies Act Chap. 33:04 respectively.
The Friendly Societies Division is also responsible for the management and execution of projects and programmes for the Friendly Societies Division and the Friendly Societies Movement.
Pursuant to sections 5(1) and 6 (1) of the Friendly Societies Act, the following societies are required to be registered under the Act:
The mission of the National Entrepreneurship Development Company (NEDCO) is to promote and support the development of new and existing MSEs to achieve financial independence, sustain ability and competitiveness through the provision of evolving, cutting edge financial products and development support services in a customer focused environment.
NEDCO’s services include:
Learn more about NEDCO at: https://nedcottfunding.com/