Praslin and La Digue should also benefit as much from the Small Medium Enterprise Scheme
May 18, 2017
Similar issues as was the case in the first consultative meeting for the proposed Start up Grant Scheme on the ease of doing business in Seychelles the Small Medium Enterprise (SME), highlighted the last meeting for Praslin and La Digue residents and businesses.
The packed room at the Bahai centre on Praslin was proof enough that people are eager to share thier ideas and suggestions as well as vent frustrations on ease of doing business in Seychelles, high cost of production for small businesses and high interest rates from commercial banks.
This took place on Tuesday 16th May 2017 from 9.00 a.m to 11.00 a.m. The Ministry of Finance, Trade & Economic Planning and the Ministry of Employment, Entrepreneurship Development and Business Innovation organized this consultative meeting in collaboration with its partners and stakeholders.
The meeting started off with a presentation by the Principal Secretary for the Department of Entrepreneurship Development and Business Innovation, Mrs. Pamela Charlette. She gave an overview of the proposed seed capital start up fund after which the floor was opened for participants to make contributions and or ask questions.
Various proposals were made among which is the idea of increasing the proposed SR50,000 to SR100,000, and according to members of the public, businesses and or general public on Praslin and La Digue should have equal opportunites as Mahe. According to them, most of the time residents on the islands are too often forgotten and priorities are given to Mahe.
Another interesting point was the proposal to negotiate with relevant service providers and insititutions, especially commercial banks to lower the interest rates on loans for small businesses. Something that also came out in teh first consultative meeting conducted on Mahe.
The issue of youth venturing into small businesses also came up and members of the public stated that it is difficult for young people to start a business.
Ms. Penny Belmont from the Small Enterprise and Promotion Agency, SENPA, provided updates on the status quo of assistance provided to small businesses in Seychelles as well as guidance on how to access assistance from the agency. Whilst Ms. Sheriffa Morel from the Ministry of Finance also provided details of the implementation of the scheme as well as role of the ministry.
Mrs. Charlette explained that the important thing to remember is that the proposed SR50,000 is an assistance only, provided to SMEs to help them move forward. It should compliment what SMEs are doing and that they should not rely solely on this scheme.
The government is providing a seed capital for Small Medium Enterprises (SMEs) of up to SCR 50,000 to assist them in their early stages of development and for the successful implementation of the scheme, it is important that all concerned parties are involved on the onset.
The aim is to gather as much information and contribution as possible on the scheme from all concerned parties and encourage the idea of collaboration and networking in the eventual launching and implementation of the Startup grant scheme.
Launching of the scheme is scheduled for June next month.