XXXIX OF for the assortment of the Small and Medium Enterprises Development Authority as an autonomous body under the Federal Government of Pakistan for encouraging and facilitating the development and growth of small and medium enterprises in the country. A few priority sectors were selected on the criterion of SME presence. In depth research was conducted and comprehensive development plans were formulated after identification of impediments and retardants.
They support new and existing businesses to get off the ground and realise their potential, through the provision of the following services: They must have no more than 10 employees and an annual turnover of less than Rs: Mauritius Bitcoin The process of reviewing and recommending the use of bitcoin for small businesses is under way.
Small Business Developement Small business development is the backbone of any strong economy. They drive innovation in a way rarely attempted by larger, more rigid organisations, and provide a fantastic source of employment.
No economy can be reliant on large organisations alone. The challenges faced by small businesses during their infancy stages are not to be underestimated. Despite being small in numbers, they are expected to show the expertise in all areas to not only generate sufficient demand, but also to conform to all applicable laws and guidelines.
It is no mean feat and one with which they deserve all available assistance. SEHDA therefore view it as their responsibility to promote and sustain small business development through the provision of all relevant services.
These services cover the entire spectrum of business disciplines, including financial and legal matters, as well as sales and marketing consultancy.
In the past we have worked closely with manufacturers in the home improvement sector. Over the periodconsumer demand for home improvement dropped significantly.
SEHDA do not claim to have all the answers. The owners and directors of the companies in question will still need to demonstrate enormous drive and initiative.
However, by harnessing the support on offer from SEHDA, both in terms of hard resources and valuable consultancy, they have the peace of mind of knowing they are not alone.
Entrepreneurship Behind every great business is a great entrepreneur. However, with entrepreneurship comes risk, and as a consequence many would-be entrepreneurs take the safe option and never realise their ambitions.
Whilst some may view this as a sensible attitude, without the men and women who are prepared to throw caution to the wind there would be no new business, and without new business there is no economy.
Our job at SEHDA is to take much of this perceived risk away from the entrepreneur through the provision of services that will enable them to develop their business in the most effective and efficient manner possible, whist conforming to all applicable laws.
Whilst we endeavour to ensure they have a solid business framework within the organisation, we recognise that the worst thing you can do to an entrepreneur is stifle their creativity through overly rigid and time intensive bureaucracy.
On the contrary, this is about offering simple advice and support in those areas that the entrepreneur identifies as important, so that they can then concentrate their energies on developing that business, with the peace of mind that they are doing so on a stable and sustainable business platform.
A key aspect of this is the regulation of small enterprise registration, but they also aim to enhance their business productivity through research, training and other measures.
Some grow into larger organisations, and others remain modest in size, but all contribute a great deal to the long term strength and sustainability of the economy. By developing this culture of small enterprise, SEHDA seek to encourage other potential entrepreneurs to take the plunge and realise their dreams and ambitions.
However, this is not a decision to be taken lightly. Whilst SEHDA do all they can possible to simplify the process, the risks are still real and part of their duties is to draw the attention of new businesses to all the potential legal and operational pitfalls. One measure SEHDA encourage small enterprise to take in order to ease the pressure, is to work collaboratively with other small enterprise.
By partnering with appropriate organisations, they are able to share certain costs and benefit from their collective input.
Invariably they will each also be able to offer different but complimentary skills and expertise, further increasing the likelihood of not only surviving through infancy but then flourishing as they mature into established and respected organisations. The combination of these with expert personal consultancy and guidance enables small enterprise of all forms to deal with the early challenges in a cost effective and strategic manner, whilst retaining the flexibility and innovation that have traditionally made new businesses in Mauritius such a vital part of the economy.Small and Medium Enterprise Development”, the COMESA Investment Report analyses the linkages between FDI and Small and Medium Enterprises’ development and provides some policy recommendations.
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