Small and Medium Enterprises Development Authority (SMEDA) has issued fresh recommendations to improve the business ecosystem. SMEDA has launched the new recommendations in collaboration with the Centre for Governance and Public Accountability (CGPA) after due consultations with relevant stakeholders.

The new recommendations cover five thematic areas including Legal (registrations, NoCs, taxes), Access to Finance, Entrepreneurship, Infrastructure, and Trade including exports and imports. After conducting ‘Public-private Dialogues’ (PPDs), SMEDA has issued 10 recommendations to improve the business environment and promote entrepreneurship.

They include the creation of an online repository with the help of academia of aspiring entrepreneurs and investors so that they can be connected with one-another for collaboration, and demand-driven action by the academia. SMEDA has recommended that internship programs should be initiated for students so that they are better prepared to serve in industry.

Further, more land for the development of industrial infrastructure is demanded so that new industrial units could be accommodated. Provision of utilities (electricity, gas, water) and the creation of basic infrastructure is also demanded by the business community for their families and children near the industrial zones.

The recommendations have also called for improving awareness regarding relevant laws, rules, and regulations and their simplification. The document also proposed marking and linkages development, capacity building of SMEs, easy access to finance, ease in licensing, NoCs, registration, documentation, the introduction of modern technology, technical & vocational skill, and improving the business ecosystem for women entrepreneurs.

Credit : Independent News Pakistan-WealthPk