TRADE, Investment and Tourism Minister Satyakama Maharaj told participants in UTT’s Leader in YoU.TT Leadership Workshop that as Trade, Investment and Tourism Minister, he wants to help young people build a business and a world that matters to them.
Maharaj was speaking during the opening ceremony of the two-day seminar series, titled Leading and Inspiring Sustainable Development in TT: Learning from Yesterday to Make Tomorrow Better. He said although this was his inaugural speech as minister, he had received and accepted the invitation to speak prior to his appointment.
UTT said the series aims to empower current and aspiring leaders with the knowledge, skills and inspiration to drive sustainable progress in this country.
Maharaj, founder of the Sacha Costmetics empire, said he wants to use the lessons learned during his past 40 years of entrepreneurship to enable young people to rise to their own purpose.
“As Minister of Trade, Investment, and Tourism, my mission has expanded. Just as I built Sacha from the ground up, I intend to help you build what matters to you. I am committed to removing the barriers that stand in your way by improving access to funding, creating better support systems for startups, and making it easier to do business in TT.”
He told the students if he’d had the tools they had today, it would have saved him 30 years of work in building his business.
“When we started, we had no internet, no smartphones, no Google, just a landline, unreliable electricity, and paved roads that came later. Research meant libraries. Marketing meant flyers. International communication took weeks.
“Today, starting a business takes a phone, Wi-Fi, and an idea. You have free access to YouTube, Google, and yes, ChatGPT. You can design packaging on Canva, run your own ads, get feedback instantly, and collaborate globally.
“You don’t need a store to launch a product. Platforms like Amazon, eBay, Etsy, and TikTok Shop have democratized global commerce. You can build a personal brand, sell e-books, promote niche products, or earn from affiliate programs.”
Maharaj said students should start a business, whether part-time or full-time, as relying on a single stream of income was risky. He shared ten tips for creating a thriving business.
“Don’t compete in the mass market, as you can’t outspend the giants. Find a niche they overlook. Focus your resources there and sell globally, especially to the diaspora. Don’t try to compete with China. You won’t win on price. Focus on value, not cost.
“Price for the problem you solve, not what it costs to make. Niches support higher prices. Quality is the price of admission. If it’s not world-class, don’t launch it. Differentiate in ways that can’t be copied. Think secret formulas, proprietary methods like Angostura, Coke, or Buttercup Powder. Solve a real problem. The bigger the problem, the bigger the opportunity. If it can’t be run from your phone, don’t do it.”
Maharaj’s final tip was that they should learn about businesses by working in one, and gave the examp
