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Government to assist the SME sector

May 24, 2020 7:30 am

The government will announce new initiatives today, to assist those in the micro-enterprise, small and medium business sectors.

Minister for Economy Aiyaz Sayed-Khaiyum says they are looking for some generous concessional loans, particularly for the SME’s.

Sayed-Khaiyum says these are people who already have a business but are struggling due to the current crisis, and they will look at ways to assist them with cash flow under the new initiative.

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He says they will also look at the micro enterprise’s sector.

“For example, people working in the tourism sector who are no longer employed. So somebody who is a very good pastry chef – now he does not have a job, but because he is a very good pastry chef he needs access to an oven so he can bake bread, pies and all sorts of things and start his or her own business. So with a little bit of assistance they will be able to start earning their living with the micro-enterprise funding that we intend to provide.”

Sayed-Khaiyum says they are looking at quick and transparent processes to give people excess to livelihood opportunities.

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