Speech at the Closing Ceremony of the National Secondary School Entrepreneurship Competition

Let me begin by extending warmest congratulations and thanks to the organisers of the National Secondary School Entrepreneurship Competition. I congratulate them, not only for conceptualising this initiative, but also, for hosting this event for the 8th time. I thank them for inviting me to address these bright young ‘entrepreneurs-in-the-making’ who have been given a solid platform from which to launch into the world of business.

This Competition has really engaged our young people. Since its launch in 2017, over 4,000 students from over 100 secondary schools across the nation have benefited from practical, hands-on entrepreneurial training through the use of online simulations. Past participants have spent over 40,000 hours learning and practising how to build their very own businesses; and 13% of past participants performed in the top 1% globally of all simulation players who have ever played. These are remarkable achievements. They speak volumes about the calibre of young talent we have right here in Trinidad and Tobago. A tracing study from 2021 underscored the impact of this competition. 98.5% of respondents said the programme positively impacted their business education and 88.37% indicated that the NSSEC experience had encouraged them to start their own business.

One such past participant was Sapphire James from Tobago. Sapphire started a successful nail design business after leaving school. She credited the confidence and skills she gained from this Competition as the driving force behind her success, saying she would not have had the courage to pursue her dream without this experience. Another past participant was Shanice Seales, who changed her intended field of study to Entrepreneurship and started her own successful brand after participating in this Competition. Shanice and Sapphire are just two examples of former participants whose lives were transformed by this competition.

I congratulate and I thank all organisers and partners involved in this event. Your vision for our young people and your commitment to their success have opened up new avenues, new perspectives, and new possibilities for their futures.

To our participants – I also want to commend you for your hard work, focus and commitment throughout this Competition. I congratulate the winners, of course, but I also applaud every contestant who has invested time and energy into this experience. Whether or not you come away with a trophy, the skills, lessons, and knowledge you have gained here will stay with you for life.

What I find to be most impressive about this “Competition” is that it is more—much more—than a contest or an extra-curricular programme. It is an empowerment platform. It empowered Sapphire and Shanice to unlock their potential, and it can empower all of you to not just learn about entrepreneurship, but to think, act and carry yourselves like entrepreneurs. This platform teaches you to be resourceful, innovative, forward-thinking, adaptable and confident. This platform has carried you beyond the theory and mechanics of starting a business, and has allowed you to see, through gamification, what it means to have an entrepreneurial mindset—a mindset that sees opportunity where others see obstacles, a mindset that turns challenges into possibilities.

Entrepreneurship is of course about more than just starting a business. It is also about vision and creativity. It is about the courage to think outside the box and build bridges where others only see yawning chasms. It is about the ability to turn simple ideas and aspirations into action, and then, through hard work and perseverance, turning action into success. Understanding, honing and perfecting this entrepreneurial mindset will set you apart and help shape not just your future, but also, the future of this nation.
One way this mindset will benefit you is in the job market. The world of work is rapidly evolving and changing—that cannot be denied. We see for ourselves how the rise of Artificial Intelligence, the disruption of traditional industries and the emergence of new sectors, are all changing the job market in unprecedented ways. Many of the jobs and careers we take for granted today will not exist in the same format tomorrow – if indeed they exist at all. The skills that will be in demand tomorrow, are likely to be different from those that are being taught in traditional classrooms today.

Our education system often struggles to keep pace with the demands of this changing landscape. This has resulted in what we refer to as a skills gap—a mismatch between the skills that young people are being taught and the skills that employers need. And this is where you, with your entrepreneurial mindset, come in. As a generation of forward-thinking, innovative young people, you are well-positioned to bridge that gap. As young entrepreneurs, you will be able to identify and to capitalise on opportunities that are not ‘traditional’. One such example is that of “social media influencers”, and “TikTok” stars, who harness the power of social media and turn humour, family life, hobbies, and artistry into full-fledged businesses. They are making waves and building successful businesses using platforms that simply did not exist just a generation ago. These new avenues of employment—while foreign to some of us—are creating income and economic and social opportunities and are ways in which people have demonstrated their ingenuity and entrepreneurial mindset.

Another benefit of having an entrepreneurial mindset is the positive effect that you can have on the lives of other people. This entrepreneurial mindset is not limited to building a company or achieving personal financial success; it is also about having the power to impact your community, your country, and the world in meaningful ways. You can use your newfound creativity, confidence and resourcefulness to have a positive environmental impact, for example; or to bring about social change; or to help improve the lives of your fellow citizens. Imagine, for example, finding innovative methods to encourage recycling or upcycling; imagine creating systems to quickly get much needed items to people in need; or imagine drumming up support using social media and other methods for important initiatives. The short point is that having an entrepreneurial mindset enables you to contribute more effectively to the wider society. And in this regard, you can take pattern from the sponsors and partners of this Competition, and find ways to enhance the lives of your fellow young people.

So, my dear entrepreneurs, I urge you to ACT on your ideas. Take that leap of faith. Block out the noise, the doubts, and the uncertainties. Our country needs you. Our society needs you. I can promise you that if you ACT, we would be all the better for it.

I take this opportunity to thank the sponsors, partners, and stakeholders of this competition. I must commend, in particular, all of the teachers – for their spirit of volunteerism in giving of their time to their charges. Your commitment to supporting the education and development of our young people has created a platform for them to dream bigger, think more creatively, and take bold steps toward achieving their goals. You are investing in the future of our youth, and by extension, the future of our nation. Your collaboration is helping to nurture the next generation of leaders, entrepreneurs, and civic-minded citizens of Trinidad and Tobago. Thank you.

To our participants – the journey for all of you begins now. Remember, you hold within you great potential, and I, for one, look forward to seeing how you will unleash that potential on this country and the world. You are our hope and future. You are our most precious asset. Good luck. And may God Bless you.

Thank you.