Getting started
BUSINESS IDEA
Entrepreneurs usually face the challenge of developing a business idea in a way that it becomes economically viable. There is, hence, the need to develop the right value proposition while defining a relevant strategy to have a baseline to achieve set objectives. There exists a panoply of facilities to support burgeoning entrepreneurs to implement their business ideas in the most effective and profitable possible way.
Entrepreneurs have a unique and vital role to play in the local community, national society and in the global economy. In a regime of increased globalisation, where the comparative advantage of modern economies is shifting towards knowledge-based economic activity, not only does entrepreneurship play a more important role, but the impact of that entrepreneurship is to generate growth. Fostering entrepreneurship is therefore crucial for a country to create a strong foundation for growth. In Mauritius, various business institutions are involved to encourage and nurture entrepreneurship. The major ones are:
SME-Mauritius
SME Mauritius Ltd is a private company wholly owned by the Government of Mauritius, incorporated in July 2017. SME Mauritius is committed to promote a conducive Small Medium Enterprise (SME) eco-system and develop entrepreneurship at national level.SME Mauritius empowers SMEs to emerge and grow by implementing support programs that enhance their competitiveness.
The main roles and functions of SME Mauritius Ltd are to:
- provide core support services, entrepreneurship development, business facilitation, counselling and mentoring services;
- empower SMEs to enhance their delivery capabilities;
- promote technological and managerial capabilities of SMEs;
- implement, coordinate and monitor assistance program provided to SMEs;
- provide common facilities for SMEs;
- sensitise and conduct awareness campaigns on entrepreneurship;
- facilitate networking among SMEs and develop linkages;
- facilitate research relating to the development of SMEs;
- conduct surveys to provide market intelligence and trends;
- organise SME fairs;
- coordinate joint public/private sector initiatives relating to SMEs
Development Bank of Mauritius
The Development Bank of Mauritius has been supporting entrepreneurship and since its establishment in 1964 as a parastatal body. Various loan schemes are available to empower entrepreneurs including the “Covid-19 Special Support Scheme” whereby SMEs with Turnover not exceeding Rs 50 million and who have paid the Contribution Sociale Generalisee (CSG) in respect of all their employees would be able to apply for unsecured loans of up to Rs 1 Million at an interest rate of 0.5 percent per annum with a moratorium of 1 Year on payment of capital and interest.
National Productivity and competitiveness Council (NPCC)
The National Productivity and competitiveness Council (NPCC) was set up in 1999 following the SADC declaration on productivity. The objective of the NPCC is to stimulate and generate productivity and quality consciousness and drive the productivity and quality movement in all sectors of the economy with a view to raising national output and achieving sustained growth and international competitiveness.
Following the 2014 budget, the National Productivity and Competitiveness Council (NPCC) has been mandated to provide training on productivity to SMEs. For this purpose, the NPCC has initiated the GoSME project which consists of 3 phases as follows:
– Phase 1: Analysis –
- Audit of company by NPCC including an interactive workshop with employees
– Phase 2: Training
- In-plant training based on problems identified
- Training of Productivity Champion at NPCC
Phase 3: — Implementation
- Implementation of a project by Productivity Champion and follow up by NPCC
- Membership of Company to NPCC Productivity Club
National Women Entrepreneur Council (NWEC)
The National Women Entrepreneur Council (NWEC), a parastatal body operating under the aegis of the Ministry of Gender Equality, Child Development and Family Welfare has been set up in 1999. It is the main organization that provides support and assistance to both potential and existing women entrepreneurs in Mauritius. As at date 4,815 women entrepreneurs are registered with the NWEC. The mission of NWEC is to be a reference for promoting entrepreneurship inculcating the right business culture for women in Mauritius.
Objectives
The main objectives of the Council are to:
- ensure effective communication between the Council and its members;
- identify actions and projects which will promote entrepreneurial activities of women;
- evaluate and assess the needs of Women Entrepreneurs;
- establish Training Programs, aimed at improving the skills and management aptitudes of women entrepreneurs;
- develop working links and affiliation with other bodies, whether in Mauritius or abroad, having same objectives;
- examine and evaluate the contribution of women entrepreneurs to the various sectors of development in the light of national needs and priorities.
In order to promote economic empowerment of women and encourage the development and growth of women entrepreneurs, the following services are offered by the Council:
- Information Dissemination and Sensitisation Programmes
- Counselling
- International linkage Development (Trade Fairs, Workshop)
- Training
- Marketing/Local Fairs
Angel Investors of Mauritius (AIM)
The Angel Investors of Mauritius (AIM) is a network of people interested to invest in start-ups and newly incorporated companies, which have a potential to scale up and grow. AIM members have significant entrepreneurial track records and/or successful operational experiences and are willing to bring their competencies to early stage business.
AIM prefers to finance innovative ideas, start-up enterprises, cutting edge technology companies or businesses with high growth potential. AIM provides the platform for Angel Investors to invest either individually or in small groups in company.
The EDB – Business Support Portal is meant to create synergy and linkage with Governmental, Parastatal and Private Institutions involved in promoting entrepreneurship in Mauritius. In line with the strategic vision of the Government of Mauritius to make SME the engine of growth to position the country as a High-Income Economy by 2030, the Portal will act as a focal point for Mauritius SME owners and aspiring entrepreneurs looking for information, tools and services that can help them build sustainable and competitive businesses.
SMES in Mauritius
In Mauritius SMEs are categorized based on their turnover only as per the SME Act 2017 and for statistical purposes, Statistics Mauritius additionally uses the employment criteria to define the micro enterprises as depicted in the table below.
Category of small and medium enterprises
based on turnover
< Rs 2 Million
< Rs 2 Million ≤ Rs 10 Million
< Rs 10 Million ≤ Rs 50 Million
Composition of smes by category
micro
Enterprises
Small
Enterprises
Medium
Enterprises
Distribution of SMEs
Wholesale
and retail
Agriculture,
Forestry and fishing
Transportation
and storage
Manufacturing
construction
Other
SME CONTRIBUTION
2013 to 2017
48% - 49.1%
Share of SME in
total employment
34.7% - 33%
Contribution of sME to GVA
7.2% - 10.9%
total domestic exports
