2018 REVISED SMALL, MICRO, & MEDIUM ENTERPRISE POLICY OF ESWATINI SMMESREPOSITIONING & UP-SCALING SMMES FOR MEANINGFUL GROWTH AND STABILITY Contents Foreword ..................................................................................................................................................... 4 PART A Error! Bookmark not defined. CHAPTER 1: INTRODUCTION .................................................................................................................... 5 INTRODUCTION ........................................................................................................................................... 5 Alignment with National Policies ............................................................................................................... 6 Policy Strategic Pillars .................................................................................................................................. 6 Structure of the Document ........................................................................................................................ 7 CHAPTER 2: SMMENATIONAL POLICY FRAMEWORK .............................................................................. 8 BRIEF OVERVIEW OF ECONOMY OF ESWATINI .......................................................................................... 8 1.1. Definition of SMMESector ............................................................................................................. 9 1.2. Profile of the SMMESector........................................................................................................... 10 1.3. Challenges Facing the Sector ................................................................................................... 11 Chapter 3: POLICY FRAMEWORK ........................................................................................................ 13 3.1. Vision ............................................................................................................................................. 13 3.2. Mission Statement........................................................................................................................ 13 3.3. Policy Objectives ......................................................................................................................... 13 3.4. Main Policy Principles .................................................................................................................. 14 3.5. Policy Goals .................................................................................................................................. 14 Chapter 4: SMMENational Policy Provisions and Strategies ............................................................... 15 4.0. Policy Provisions ........................................................................................................................... 15 4.1. Increase Access to Financial Products and Services .............................................................. 15 Policy Issues ............................................................................................................................................ 15 Policy Statement.................................................................................................................................... 15 Policy Objectives ................................................................................................................................... 16 Policy Strategy ....................................................................................................................................... 16 4.2. Strengthen SMMEBusiness Support Institutions and Structures ............................................... 18 Policy Issues ............................................................................................................................................ 18 Policy Statement.................................................................................................................................... 18 Policy Objectives ................................................................................................................................... 19 Policy Strategy ....................................................................................................................................... 20 4.3. Strengthen the Legislative and Regulatory Framework for the Development of SMMEs .. 22 Policy Issues ............................................................................................................................................ 22 Policy Statement.................................................................................................................................... 23 Policy Objectives ................................................................................................................................... 23 Policy Strategy ....................................................................................................................................... 24 4.4. Promote and Develop a Culture of Entrepreneurship and Innovation ................................ 28 | REVISED SMME POLICY OF ESWATINI (Confidential) 1 Policy Issues ............................................................................................................................................ 28 Policy Statement.................................................................................................................................... 28 Policy Objectives ................................................................................................................................... 28 Policy Strategy ....................................................................................................................................... 29 4.5. Strengthen the Domestic and International Competitiveness of SMMEs ............................. 31 Policy Issues ............................................................................................................................................ 31 Policy Statement.................................................................................................................................... 32 Policy Objectives ................................................................................................................................... 32 Policy Strategy ....................................................................................................................................... 33 4.6. Positon and Support SMMEs Owned by Women, Youth and Disadvantaged Groups ...... 34 Policy Issues ............................................................................................................................................ 34 Policy Statement.................................................................................................................................... 35 Policy Objectives ................................................................................................................................... 35 Policy Strategy ....................................................................................................................................... 36 4.7. Define, Nurture and Improve the Growth and Graduation of the Informal Sector ............ 37 Policy Issues ............................................................................................................................................ 37 Policy Statement.................................................................................................................................... 39 Policy Objectives ................................................................................................................................... 39 Policy Strategy ....................................................................................................................................... 39 4.8. Improving Dialogue between Key Stakeholders ..................................................................... 40 Policy Issues ............................................................................................................................................ 40 Policy Statement.................................................................................................................................... 41 Policy Objectives ................................................................................................................................... 41 Policy Strategy ....................................................................................................................................... 42 Chapter 5: SMMEMaster-Plan ................................................................................................................. 44 5. Monitoring and Evaluation ......................................................................................................... 44 6. Introduction .................................................................................................................................. 44 7. THE STRATEGY IMPLEMENTATION PROCESS ............................................................................... 44 7.1. The Implementation Plan ........................................................................................................... 45 Activities .................................................................................................................................................