Growing your business and thriving in this new normal.

On June 25th, we discussed how businesses were able to
grow and thrive in this new normal.

For business owners and entrepreneurs across the region, the COVID-19 pandemic has posed many challenges. Many companies have closed their operations while others have made significant changes in the way they operate, scaling down for the foreseeable future. For others however the past months represented an opportunity to grow and digitally transform their business.

In this episode we explored how some businesses were able to grow and thrive in this new environment, and which digital solutions can help with your goals.

About the speakers

Damian has 11 years of experience in corporate and commercial banking He is a top performer who has a wealth of experience in areas such as credit adjudication, portfolio management, business development, prospecting, deal structuring and negotiation. Damian is responsible for the overall success of the commercial business line for Caribbean South (Trinidad and Guyana) and will bring a strong focus on deepening client relationships by working across business lines, including Retail and Capital Markets. Damian holds a BSc. in Management Studies with a minor in finance from the University of the West Indies and as Masters of Business Administration (M.B.A.) from Andrews University.


Mauro has 20+ years of experience integrating technology, customer experience & design to drive growth.  He currently leads the development of strategy for Business Banking including Product Management, Channel Strategy , Sales Process Optimization and Credit Risk Management.  He has extensive knowledge and experience in Digital Banking, building digital ecosystems, multi-year roadmaps and leading agile teams to develop innovative solutions. Prior to joining Scotiabank, he held various senior positions in leading Banks.  Mauro holds an honours degree of Bachelor of Administrative Studies from York University, Canada.

His 2019 panel discussions include Corinium Global Intelligence - Experience Success Executive Roundtable Series and Informatica - Data Strategy Executive Summit

With 20 years Global Transaction Banking experience Cristina has excelled in her field including digital consultation, electronic development and strategy implementation.  She is responsible for electronic banking solutions in the Trinidad & Tobago, Barbados, Guyana & Antigua, where she has worked closely with clients locally and regionally. With the current digital shift across businesses and industries, Cristina engages with leaders in the Business Community for digital solutions including electronic banking platforms and provides guidance for seamless transitions to customers operations. Cristina is always open to conversations and exchange of ideas from players in the financial industry, bringing a focus to our customer needs and deepening our client relationships.

The importance and role of small-medium businesses

Employers: 86.4% of all businesses in Canada have fewer than 20 employees. Before the COVID-19 pandemic, small businesses accounted for half of private sector jobs and for two-thirds of net new jobs created from 2000-17. Permanent closures of small businesses are thought to generate longer lasting unemployment than temporary furloughs and layoffs do.

Economic multipliers: Many larger firms rely on small businesses as suppliers, direct customers for Business to Business services, or employers for many of their customers. Often, small businesses form a significant percentage of industries that have high employment multipliers, so job losses in these industries could cause significant job losses in the broader economy.

Community hubs: Small businesses form the backbone of many communities. According to a 2019 study, nearly twice as many Canadian consumers prefer shopping with small business over big business - and one in five are willing to pay more. Small business owners help build a sense of community and are more likely to build personal relationships with their customers.

Entrepreneurship engines: Small Businesses owners innovate, compete and work hard - they are entrepreneurs who solve problems and create unique opportunities, particularly for women, minorities, and immigrants. Families that own businesses tend to be more upwardly mobile than those employed by others.

Adopting new technologies 

Local Businesses that can pivot digitally, and adopt digital technologies, to enable their customers, partners and the communities in which they operate, will have the best opportunity to not only survive but thrive in the long term.

Although it is hard to predict a recurrence of the virus or any crisis for that matter COVID-19 has changed the world, and business. The future we envision post-COVID is one where people and businesses are prepared and enabled through technology.

Whether it is to continue business operations or maintain access to essential needs, the digital economy will play a crucial role in all aspects of our live.

This is a brave new world and we are here to help you innovate and evolve.

Questions & Insights

How sudden everything grounded to a halt – there was an economic and public health crisis at the same time. It also wasn’t a Canadian or Caribbean crisis – it’s impact has been felt globally. As a result, COVID-19 was extraordinarily challenging and complex for businesses and the world.

Within a crisis, there are seeds of opportunity. Companies have responded in a myriad of ways, across the spectrum, by their offerings (digitally) and their business operations in more creative and innovative ways than ever.

Barriers that once existed pre-COVID have vanished and formerly reluctant customers are now willing to try new things – to experiment. We observed that those businesses that were the quickest to adjust and adapt are the businesses that are poised to thrive post-COVID.

Small Business owners are required to be bold, agile, and leverage technology. Businesses that pivot digital have found ways to operate successfully to survive the pandemic and thrive in the future.

Our clients mobilized quickly and creatively adopting digital solutions during the pandemic lockdown.

Examples include (1) Doctors who set up payments via e-commerce and provided virtual consults to their patients using Zoom + FaceTime + What’s app video calls. (2) Home Stores/ Hardware’s expedited their online shopping plans by choosing to go with simpler website designs and added e-commerce so their customers could shop in the comfort and safety of their homes (3) Hotels/ Restaurants introduced curbside pickup using wireless and mobile point of sale terminals (all of which can accept contactless payments).

Our complete line of Cash Management Products, offers not only viewing your accounts and e-statements, but payroll and supplier payment capabilities. 

You can also process Wire Transfers and complete your RTGS Payments from the comfort of your office or home.  Our Bill Payment Option allows you to easily settle your utility and other payments in addition, we've recently added Board of Inland Revenue and National Insurance Payments.

If you are uncertain how to get on board or utilize the service, we have created a digital team who is available to walk you through the process.  We look forward to you becoming part of our on-line family!

M10 hand-held devices are the way to go! These mini terminals can fit into the palm of your hand and are the perfect solution for your mobile sales. This paperless device connects via your smart phone or tablet, which allows you to email receipts to your clients in real time.  The M10 acts as a simple collection device or can be integrated to update your records or stocks. 

We have a designated Team of specialists who are available to assist and will work along with your Relationship Manager to set up the system best suited for you. 

Please reach out at any time to: 

Joseph Gill
Customer Solutions Specialist

Andrew Lee
Customer Solutions Specialist

Kern Olivier
Senior Customer Solutions Specialist