By Kefiloe Kajane
The minister of small business development, cooperatives and marketing Thesele Maseribane this week urged for cooperation among the small business holders saying, that would enable them to grow the country’s economy.
The round table talks hosted by the ministry and the prime minister’s office were hinged on discussing ways for small businesses to access finance both locally and internationally in order to create a large market.
He said that the contributions made would be scrutinized so as to formulate a strong policy for small businesses to effectively operate in a suitable environment.
In attendance were different stakeholders from the business industry who were contributing in a draft policy which will enable small enterprises to operate efficiently.
The economic adviser in the prime minister’s office Chaba Mokuku indicated that the round table is meant to help in contributing on a law that will regulate small businesses as they contribute a lot to the country’s economy.
He said before the Covid-19 pandemic unemployment was high at 38 percent and half of the Basotho population was living in poverty. He believed that in order to overcome the situation there must be concerted efforts to grow small businesses.
Mokuku also said that small businesses make over M100 million per annum and employs over 55 000 people. He said 83 percent of the small businesses have employed one to two people.
“If we can work on their access to market and finance, they will grow without a doubt and we will see the unemployment decreasing,” he said.
Many stakeholders voiced that government can help come with a policy that can help small businesses with costs of rentals. They warned that many of their businesses failed to grow due to high rental fees. They urged that they be allowed to operate from their homes.
They also mentioned that big corporations should be encouraged to source from small businesses in order to help them grow locally.
Lesotho Chamber of Commerce member Lesei Lesei also advised for training of members in book keeping so as to measure the degree of growth.
He said keeping good records enables traders to manage and assess their growth, adding that would facilitate their members to access finance.
