(DAILY MAIL) SME policy under review - Kunda
SME policy under review - KundaBy ANGELA CHISHIMBA
VICE-PRESIDENT George Kunda says Government is currently reviewing the policy framework of Small and Medium Enterprises (SME’s) to ensure they address the current needs of the sector.
“We will in due course launch the new SME policy which will enhance how we are developing this sector,” Mr Kunda said.
He said today’s businesses operate in a world that is increasingly becoming sophisticated and complex compounded by increased technological advancement.
Mr Kunda said this in Lusaka yesterday when he officiated at the ACCA and Zambia Chamber for Small and Medium Business Association (ZCSMBA) Annual Small and Medium Enterprises Conference.
Mr Kunda said there is need to focus and direct resources to meaningful research and development that will facilitate the invention of new tools, methods, processes and approaches in order to optimize performance and improve productivity.
Mr Kunda said Government is committed to developing public policies and institutional frameworks that contribute to a business environment that is conducive to entrepreneurship and facilitates entry, growth and transfer of ownership which are coherent at international, regional and local levels.
He said Government is committed to ensure that businesses in Zambia remain competitive and more productive “in these unprecedented difficult economic times affecting the whole world”.
“This explains why the government established two key organisations namely the Zambia Development Agency and the Citizens Economic Empowerment Commission both dedicated to promoting local investment in order to stimulate economic growth,” Mr Kunda said.
He said Government will continue to allocate resources to the two entities so that people can be empowered more and realise their aspirations in their quest to grow their businesses and contribute to higher Gross Domestic Product (GDP).
Mr Kunda said through the entities and other avenues, government will continue to allocate financial resources to foster growth.
He appealed to SME owners and managers and all entrepreneurs to seize the opportunity to be more creative and innovative in their business approaches and strategies such as financial management, taxation, credit control and debt management.
Mr Kunda also urged Zambian business owners to embrace e-business.
“Through the strategic utilisation of e-business within and outside the company’s environment, we expect small businesses to enhance productivity and efficiency and at the same time create new business opportunities and change the way businesses relate to each other,” he said.
Mr Kunda said e-business is swiftly changing the way of doing business and is increasingly having an influence on economic growth in the years to come.
He commended ACCA for supporting the SME sector through its learning and development, research and consultancy initiatives in partnership with ZCSMBA.
Mr Kunda said last year ACCA signed a memorandum of understanding with Zambia Institute of Chartered Accountants (ZICA) and Eastern, Central and Southern Africa Federation of Accountants (ECSAFA), to provide audit monitoring services to ZICA which he hopes will enhance the quality of audit work and improve accountability and transparency in Zambia.
And Minister of Commerce, Trade and Industry Felix Mutati urged the SME sector not to bemoan the financial crisis but turn it into an opportunity.
“We are all affected by this crisis but we need to get up and seize this opportunity,” he said.
ACCA deputy president Brendan Murtagh said SMEs play a key role in the development of businesses.
He said SMEs need to be supported if the economy is to recover at a fast rate.
Labels: ACCA, GEORGE KUNDA, SMEs, ZCSMBA
posted by MrK @ 5:38 PM
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