Africa-Press – Mauritius. The Small and Medium Enterprise (SME) Mauritius Ltd, organised today at the Hennessy Park Hotel, in Ebène, a one-day seminar in the context of the second edition of the SME Mauritius Observatory Research Day. The event addressed the theme “Opportunity, Growth and Innovation for SMEs in the context of COVID-19 and its aftermath”.
The Minister of Industrial Development, SMEs and Cooperatives, Mr Soomilduth Bholah, the CEO of SME Mauritius Ltd, Mr Ravin Rampersad, the Chairman of SME Mauritius Ltd, Mr Virendra Kumar Bissoonauth, and other personalities were present on that occasion.
In his keynote address, Minister Bholah highlighted that SME Mauritius has, through the present event, reiterated its role as a support institution in improving the resilience of SMEs in the current daunting situation.
Speaking about the Observatory Cell of SME Mauritius Ltd, he underlined that it plays a major role by constantly updating decision-makers and entrepreneurs on the latest market trends so that SMEs can continue to contribute to the country’s economic growth.
Mr Bholah added that since its inception, 14 studies have been realised by the Cell, and seven will be presented during today’s seminar. Moreover, the Minister indicated that economic recovery as regards the COVID-19 pandemic is taking place at a time of unprecedented geopolitical uncertainty, in particular with the Russia-Ukraine war.
On this note, he stressed that SMEs will be central to that economic recovery as in Mauritius, SMEs contribute 36% to the Gross Value-Added rate and represent 48% of total employment.
On this score, Mr Bholah emphasised that there is a strong and coordinated response from the Government to protect SMEs and help them partially absorb a part of the COVID-19 shock through measures such as: the COVID-19 “plan de soutien” cell that was set up following the first lockdown; the Wage Assistance Scheme; and the Self-Employed Assistance Scheme.
In addition, flexible repayment terms and moratorium on existing loans and new financing schemes proposed by institutions such as the Development Bank of Mauritius have also helped SMEs to survive, he pointed out.
The Minister stressed that SMEs will increasingly generate the job opportunities of tomorrow and the innovation needed to build a stronger and more sustainable economy as the pandemic has also brought opportunities with digital tools enhancing productivity and normalising ways of working that can adapt to people’s needs.
“SMEs can power a stronger recovery from the COVID-19 pandemic, due to their innovative and opportunity-seeking nature and, as policymakers, we will ensure that the appropriate policies are formulated and implemented”, said Mr Bholah.
On this score, he recalled that some short-term support measures such as relieving tax burdens on MSMEs, extending debt finance and employment support, as well as long-term structural policies, such as digital and financial inclusion, and entrepreneurial skills capacity development, will be maintained and further developed.
For his part, Mr Bissoonauth underscored that the Observatory of the SME helps in researching and understanding the SME ecosystem. “This full research day is a great platform that brings together different actors or observers of the SME landscape, notably academics, University students, policymakers, and more importantly, entrepreneurs,” he highlighted.
On that note, the Chairman pointed out that the research papers presented today by participants will translate the will of SME Mauritius to foster research so that it better informs policy which will in turn serve the wider cause of enterprise, of the economy and the country.
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