Posted by: KENASVIT | July 22, 2011

MPs asked to fast-tracked micro enterprises Bill

According to The Standard (published on Thursday, July 21, 2011) members of Parliament have been urged to support the Macro and Small Enterprises Development Bill once it is tabled in the House. Small and Medium Enterprises Support East Africa Director Richard Muteti said the sector had grown to 8.6 million business recently, therefore , necessary measures should be taken to protect it.

“The SMEs sector , which employs 85% of the population, caters for a a large portion of the national budget and should be protected,” Muteti said.

The sector that caters for 25% of national budget it the largest employer in the country with a work face of about seven million people, Muteti asked MPs to hasten the process once the Bill is table in Parliament to enable the Government benefit form the industry.

“We call on legislators not to wrangle over the Bill but pass it to the spur development in the sector,” he added. The Bill is still with the legal office of Parliament abd will be tabled as a private members Bill through Tetu Mp Francis Nyammo.

Investors in the sector raised concerns that they may not realize benefits of the Bill that promised to create a department in the labor ministry that would directly market their goods in the local and international markets if MPs stall in process.

The Bill also seeks to create a new fund that will provide credit tot the sector .
It targets business with annual turnover of less that KSh500.000 or companies that employ less than ten people.

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