Home' Trinidad and Tobago Guardian : March 6th 2014 Contents need to find more entrepreneurs."
Without no tertiary level education
at the time, Nancis has more than three
decades of experience as an entrepre-
neur. To become a successful entre-
preneur is a work-in-progress, Nancis
said. It requires an entrepreneur to con-
sistently channel his or her company
In early February, the Caribbean
Information and Credit Rating Services
Ltd (CariCris) announced it would begin
rating small and medium enterprises
(SMEs) enabling them to have credit
ratings to obtain loans from financial
Commenting, Nancis said that as an
entrepreneur, he supported the initiative
since it is always difficult for small
businesses to get financing. At the same
time, the onus is on the business owner
to strategically position itself to get
financing when needed. Nancis sug-
gested that CariCris should meet with
SMEs to make them aware of details
of its initiative.
"I think you have to chart your own
way in raising financing and raising
your own credibility, which is important
to ensure that you keep your integrity
intact, so that banks invest in you, they
can take a chance in you, to ensure that
they keep on financing you. Banks are
not going to finance you if you don t
have a proper proposal/business plan."
Nancis said a small business owner
must not stay stagnant, but seek to
diversity his or her operations.
"The economy will always show good
signs, then it will have its tough times
and therefore you have to adjust to suit.
The most important thing is that you
have to look at your market and your
market share," he said.
For Nancis business, the construction
of new homes is key.
"If homes don t build, then doors
don t sell," he said.
The company ships to various des-
tinations in Caricom. Some of the ter-
ritories the company does business with
are Barbados, Jamaica, Grenada, St
lucia, St Vincent, Guyana and Suri-
Asked about the movement from
mayor of Arima between 2003 and
2006 under the People s National
Movement to business owner and now
president, Nancis said his skills and
competencies led to achieving those
"If I didn t have the talent, I would
not have been mayor. If I didn t have
the talent, I would not have been in
The Barbados economy
Referring to the Barbadian market
which has been coping with a stricken
economy, Nancis said: "The Caribbean
has its challenges. Compared to the
volume we used to do, ten years ago,
five years ago, definitely the volume is
not there, so we all have to cut back
to suit the economic problem in the
Caribbean. We are still surviving."
"The volume they are accustomed
purchasing is no longer there, but they
still buy occasionally."
Though he has seen a 60 per cent
drop in exports to Barbados, trends are
showing "it will pick back up."
Though succession planning is
important in any family-run business,
Nancis said building a business takes
a holistic approach and requires every-
one to pitch in.
"It is not all family; it is people
around you. You don t want to build
the industry with family, you want to
build the industry with workers. The
key aspect is to get your workers to
Asked whether he planned on hand-
ing down his business to a family mem-
ber, he said: "Who knows." Nancis
employs 50 workers.
He was once the
mayor of Arima.
He s a "self-
Now Eustace Nancis is the
newly-elected president of the
Arima Business Association (ABA).
He was voted in as the ABA s
head at an association meeting on
An entrepreneur by profession,
Nancis started his own welding
shop at age 24, providing fabri-
Performing well over a consis-
tent period, he decided to acquire
another business and merged the
two to form the Arima Door Centre
Ltd, which has been exporting
doors for more than 20 years. The
board of the Arima Door Centre
comprises five members.
"I started with little or no
money. I have always been a self-
made business person: from noth-
ing to something."
T&T s economy cannot grow
without entrepreneurs or small
business, he said.
"The more entrepreneurs you
get within the country help to pull
the country up and at least bring
other people up (to a higher stan-
dard of living) in the country. We
BG8 | NEWS
BUSINESS GUARDIAN www.guardian.co.tt MARCH 2014 • WEEK ONE
From mayor to head of Arima's business body
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