Home / Business / Zim SMEs sector promoting self-reliance

Zim SMEs sector promoting self-reliance

Zimbabwe’s informal sector is emerging as a key source of job creation with this year’s Workers Day commemorations bearing testimony of how the nation can reap more economic benefits from emerging entrepreneurs.

The small scale entrepreneurs continue to operate and provide relevant skills, products and services that have a potential of increasing value of economic resources.

Despite technical challenges, lack of capital, inadequate raw materials or inputs and to some extent several risks threatening business viability, the informal sector has, however, been committed and resilient thereby providing several skills and jobs to the majority.

While emerging economies are also tapping into the informal traders for source of revenues and employment, the Workers Day which is celebrated yearly on the first of May, was however a normal working day for SMEs traders, entrepreneurs and service providers in the capital.

The desire to earn a living, provide self employment, maximise on profits, produce quality for the market is the driving and inspirational force for the emerging entrepreneurs and workers.

“Toita sei ndozviripo hapana zvekuzviita ndobasa racho iroro tinotorida chose, dai tatoramba tichishanda. (We have no choice but to continue working),” said one of the SMEs traders.

While efforts are being made by the government to ensure the informal sector is registered as well as ensuring it plays a critical role on employment creation, the Minister of Labour and Social Welfare Cde Petronella Kagonye says government is therefore committed to improving the working conditions for the informal sector as well as the entire production value chain of the economy.

“There is more that can be done to unlock value for the SMEs sector in Zimbabwe and we hope for the best for the nation,” said Minister Kagonye.

With vast opportunities arising in the mining, agriculture, manufacturing, construction, banking, retail, distribution transport sectors, among others, the relevant authorities are being called on to formalise the SMEs sector in order to broaden the tax base.

Source: ZBC

Check Also

Zim aquaculture export volumes down 12pc

Tawanda Musarurwa Senior Business Reporter Zimbabwe’s fish exports volumes declined 12 percent between February and …

Leave a Reply

Your email address will not be published. Required fields are marked *