SME in Mauritius is known as The Small and Medium Enterprises Development Authority (SMEDA) it is a parastatal body which was formed in 2009. It is a service which is used to support and facilitate the development of entrepreneurship. This is to help local grow and glow in their enterprises and this development authority also provides the services to design the development and expansion in business. The services also include small planters and small breeders which is the main backbone of the country’s economy.
SME Mauritius Ltd is a private company which is overall owned by the Government of Mauritius and it was incorporated in July 2017. SME Mauritius Ltd operated under aegis which is for Ministry of business, enterprise and cooperatives and it is committed to support and facilitate the development of entrepreneurship and MSMEs in Mauritius.
Registration unit of SME:
The SME registration unit is set up 18th January 2018 with the level of Ministry of business, enterprise and cooperative. The micro, small and medium enterprises are well supported and are provided with a lot of information to obtain registration, permit, license, authorization or clearance which is required for an enterprise.
Only a manufacturing enterprise with an investment in production machinery can have a Cost Insurance and Freight (CIF) value which does not exceed up to Rs. 10 million which is a qualified registration. Holders of SME certificate will have the following benefits;
- Corporate Tax Rate of only 15%
- Exemption of customs duty on raw materials according to the list scheduled
- No custom duty on production equipment
Export assistance scheme:
The scheme is to initiate the exports of SME products. There is also financial offer offered to SME to enable sample product for the products abroad and prospective buyers. 50% refund will be airfreighted and there will be a payment of Rs, 2000 to be made twice a year to be provided.
Business counselling and facilitation services:
- The business counselling and facilitation unit of SMEDA
- Objective of services
- Implementing agency
- Information and other resources about how to start a company
- Counselling on a specific business idea using profit and loss forecast
- Assistance to prepare a business plan
- Information on permits and clearances required to start a business
- Information on various loan facilities
- Specialized services provided by other institutions
- Expansion and modernization of an existing business
- Registration with SMEDA to benefit from incentives
- Monitoring of new enterprises
- Monitoring of existing enterprises
- Target group such as;
- Potential entrepreneurs
- Existing business
- Registered enterprises
Feasibility study grant scheme:
The scheme aims at initiating the beginning of a Small and Medium Enterprises (SMEs). It is used for motivating the expansion and diversification. There is a grant of 50% for the beginning operating cost of feasibility study for viable project which is available to SMEs. The maximum amount granted is about Rs. 75,000.
The feasibility study should be taken by the consultant of the registered firm with SMIDO for the purpose of feasibility study grant scheme.
Applications are considered by a Technical Committee comprising of representatives of SMIDO, ministry of houses and lands, SME, handicraft and informal sector, DBM, Ministry of Finance, etc.
Applicants who gain profit must submit a full feasibility report, together with proof of payment which was made to the consultant to SMIDO. Funds would only be for successful applicant after the registration and implementation of the project with a time period of 6 months.
Skills development programmers:
The training programs are often conducted by SMIDO. It is conducted for both existing entrepreneurs and potential entrepreneurs. It is designed to impart the required skills, attitudes and knowledge to entrepreneurs along with enterprise and efficiency of managing current enterprises.
The following are some of the programs;
- Entrepreneurship Development Programs (EDPs)
- Setting-up and Management of SME
- Accounting for SMEs
- Costing and Pricing
- Financial Management
- Export Marketing
- New Technologies
- Strategic Management
- Human Resources Management
Information documentation and publications:
SMIDO documentation center gives information about the services and internet facilities given to entrepreneurs. They provide various currently available books, guides, periodicals and reports. SMIDO publishes and circulates various number of guides, reports and brochures for SME.
The small business report is published once a year and helps in starting a new business and also it provides information for current entrepreneurs contemplating expanding and diversifying business. The key issues are;
- Starting a small business
- Permits and clearances for starting a business
- Financial options, incentives and expansion schemes available for entrepreneurs
- SME support institutions and services offered
- Other issues for running a small business
SME report is updates and publishes on an annual basis to update the networking of SME and stakeholders along with suppliers, customers and big firms.
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