Enterprise Surveys (Small & Micro Enterprises-SME)
Small and Micro enterprises-SMEs form a large and important part of business activities in both the developed and developing countries. However, their importance is felt more in the latter. This is because sectors like manufacturing, services, and ICT are not as advanced as they are in the former.
SMEs are affected by many factors that are either accommodating or constraining and that make them either prosper or perish. It is, therefore, essential to provide enabling business environments that will contribute to their success and, also, encourage innovation and increase in productivity. The ultimate aim is to have sustainable development in the country.
The International Labor Organization (ILO), as a partner of local public and private sectors, has initiated a project to conduct SME surveys in Somaliland, Puntland and South central somalia.
Moreover, in line with the objectives of the ILO’s Employment, Enterprise, and Livelihoods Program (EEL Program), the SMEs surveys are expected to highlight the needs of entrepreneurs, particularly women, in order to develop their businesses, identify opportunities and challenges that they face, improve the information available to them and boost the local labor market by opening more opportunities for gainful employment. One other major objective of this project is to apply the lessons learnt from it, to other cities in order to have a complete picture of the current situation of SMEs in the country and, systematically, work on their growth and development.
When these pro-poor objectives are realized, they will transform the local economy, leading to vibrant labor markets that will contribute to poverty reduction and the maintenance of peace and stability in the country.
Enabling entrepreneurship through business incubation
It is widely recognised entrepreneurs play a vital role in promoting the private sector and economic growth in Somalia. Micro, small and medium enterprises (MSMEs) are considered to be one of the principle driving forces in economic development as they are the embodiment of private ownership and entrepreneurial skills, generating employment and helping diversify economic activity. More>>