CARIRI examines SME challenges

The seminar which started yesterday, has as its theme: Improving Organisational Performance in SMEs through Information and Communication Technology (ICT).

Cariri organised the seminar in collaboration with the World Association of Industrial and Technological Research Organisation. The purpose of the seminar is to assist in addressing the challenges faced by the SMEs in adopting ICT.

Public Administration and Information Minister Lenny Saith, in his feature address, highlighted central government’s role in supporting SMEs under the “Fair Share Programme.”

“Public sector contracts worth $1 million or less will be reserved exclusively for registered small businesses,” Saith said.

In addition to this, he added, approved small businesses which operate in a regional development area will pay no tax on profits for a five year period and gross sales of these companies from the business levy will be exempted for a similar period. This was started in January.

He described the SME as a sector which provides resilience to a nation’s economy activity throughout the society, especially at the middle and lower levels.

“The sector is an important instrument of wealth creation and therefore a critical factor in the social stability of our country,” Saith stated.

He added when Small and Medium Enterprises thrive, the divide between the rich and poor is reduced and economic growth is accompanied by social development.

He also expressed the view that businesses should take advantage of the opportunities that technology provides as it is vital for both their domestic strength and international competitiveness.

“We are therefore creating an enabling environment for our SMEs and the entire business community to incorporate the technology in their operations,” he stated.

To ensure this is done, he said, the Ministry has set a target date of year end 2006 for all government information to be online, and all “ appropriate” services to be on line by year end 2008.