October was a month that kept me on my toes—quite literally at times. It was filled with small victories, big frustrations, and the unexpected moments that life tends to throw in your path. Here’s a recap of the highs and lows that defined October.
The month started off with a mix of comedy and triumph. During a team relay event, I managed to fall yet again. This is starting to become a pattern! But despite my less-than-graceful moment, my team pulled through, and we won. It was one of those moments that reminds you it’s not about how many times you fall; it’s about getting up and finishing strong. Plus, who doesn’t love a win to kick off the month?
The Endless USD Struggle
The USD forex struggle continued to be a significant and ongoing headache for many businesses, including mine. After what felt like an eternity, I finally managed to secure enough USD to pay my shippers. Yet, the ongoing issue of wiring funds remained unresolved. Despite banking with my institution for over a decade, a simple $3,000 USD wire transfer has been pending for three months. Just a couple of Thursdays ago, a rep even called to ask me why I hadn’t received the wire transfer they claimed to have authorized—it was laughable in the most infuriating way.
The State of Business in Trinidad: USD Shortage and Bank Inflexibility
The struggle for USD access in Trinidad is not just my problem—it’s a systemic issue impacting businesses across the board. The country has been dealing with a persistent USD shortage due to various economic factors, including declining energy revenues (a key source of foreign exchange), high demand for imports, and a lack of diversified sources for USD inflow. Here’s a closer look at the data and current business climate:
Foreign Exchange Allocation: According to the Central Bank of Trinidad and Tobago, the country has faced a significant decline in foreign exchange supply over the past few years. Reports indicate that the allocation of USD by commercial banks often prioritizes larger corporations, leaving small and medium enterprises (SMEs) struggling to access the currency needed for operations.
Demand vs. Supply Gap: Estimates suggest that the demand for USD in Trinidad often exceeds the supply by up to 30-40%. This disparity has forced businesses to wait for months for wire transfers and resort to secondary measures such as using online platforms, informal exchanges, and even cryptocurrency to keep their operations running.
Bank Policies and Inflexibility: Banks in Trinidad, particularly major players like RBL, RBC, and FCB, are overwhelmed by the volume of USD requests. New account setups can take over a month, and even existing customers face limitations on their access to foreign currency. The inflexibility of bank policies exacerbates these issues. Wire transfer delays, restrictive caps on foreign exchange transactions, and stringent approval processes are common.
Impact on SMEs: For SMEs, this shortage is more than just an inconvenience—it’s a major risk. Many businesses rely on USD for importing goods, paying international suppliers, and sustaining their operations. With banks prioritizing larger companies, smaller entities are left scrambling for alternatives, which can include paying steep premiums on informal forex markets or using crypto solutions to make timely payments.
Creative Solutions and the Challenges
In an environment where getting your hands on USD is akin to winning the lottery, I’ve had to get creative. I’ve been navigating the crypto world, making peer-to-peer transactions, and leaning on the goodwill of friends willing to lend me their credit cards. It’s exhausting and feels almost surreal, but it’s become part of the daily grind here. Many entrepreneurs like myself are stuck in this cycle—constantly seeking ways to outmaneuver a system that seems indifferent to their needs.
These challenges come with a real emotional toll. The time spent troubleshooting these issues takes away from growing the business and building relationships with clients. The frustration of having essential payments delayed, operations stalled, and the looming threat of losing clients because of circumstances beyond your control is enough to test anyone’s patience. In an economy where resilience and creativity are daily requirements, the question that lingers is: how much longer can SMEs hold on under these conditions?
It’s clear that this USD shortage and the banking system’s inflexibility are unsustainable for businesses trying to thrive—or even just survive—in Trinidad. For the local economy to remain competitive and for SMEs to have a fair shot at growth, systemic changes are needed. This includes diversifying foreign exchange sources, streamlining bank processes, and ensuring that smaller businesses have equal access to USD allocations. Without such changes, the road ahead looks challenging, filled with constant hustles, late-night brainstorming sessions, and temporary fixes that can’t fully solve the problem.
Sighhhh this Forex situation is trying to be the end of me but on a lighter note, I went on my first date since my split, and we went roller skating. I only fell once, which I’m counting as a huge win! The twist? He was a lot younger than me, which felt strange at first but didn’t cause any issues during the date. It was fun, carefree, and exactly what I needed to break up the monotony of the past few months.
A Well-Deserved Vacation for Mum
Life isn’t complete without a touch of randomness, right? Right before we left , I had an unexpected visitor—a bird that decided to fly into the house uninvited. It flapped around, causing chaos and startling me with its frantic energy. Eventually, I managed to guide it back outside, but not before it reminded me of how unpredictable even the simplest days can be.
I wanted to celebrate my mother. Her wins, progress and resilience throughout her ordeal. I spent time looking for locations with less than an hour flight time to make the journey tolerable for her. Finally I settled on Barbados. Which was also strategic since I need to go there to register the caribbean branch for Sorghum United but with the frustrating USD situation we ended up going to Tobago our beautiful sister isle, Tobago. She had a companion to keep her entertained, which was a blessing because, as lovely as the trip was, it was a bit exhausting for me. Mum still hasn’t fully recovered and remains dependent on me for a lot of things, but the joy on her face made every effort worth it. Tobago, with its stunning beaches and laid-back atmosphere, was the perfect setting for some peaceful moments and much-needed relaxation.
Silver Lining Tour: A Packed Event
One of the highlights of October was the Silver Lining world tour. Yours truly is one of the top 5 performers globally….. Toots horn 🙂
Trinidad was the 11th country on their list, and it turned out to be the most attended event so far. The turnout was so overwhelming that they had to split it into two sessions. Seeing such a packed event here felt energizing and was a testament to how much local entrepreneurs and businesses are eager for growth, learning, and connection.
Roll Ice Cream also had a moment to shine this month with a virtual staff event that hosted 50 people in two separate sessions. It was a huge success, and just tonight, I received an email saying they want to hire us for another event. It’s moments like these that remind me of why I started this journey in the first place.
Looking Ahead: December Travel Plans
The end of October brought with it the excitement of future plans—I’ll be traveling in December! It’s time to start exploring again and shaking off the stress of this year. But now the big question is, where should I go? I’m open to suggestions, so let me know your thoughts!
October was a month full of unexpected falls and wins, frustrating battles for currency access, and joyful moments with loved ones. From seeing my mother smile in Tobago to navigating the chaos of business and getting back out there on a first date, it was a reminder that life is all about balance. Here’s to more wins, fewer falls, and the adventures yet to come.
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