Report calls for stronger incentives for MSMEs in states
Consultant, Lexworth Legal Partners, Yetunde Olasope, has said that the creation of incentives for micro small and medium enterprises (MSMEs) in state laws would strengthen the regulatory landscape and improve Lagos’ business environment.
This is stated in a report by the firm, which also revealed that there is a gap between MSMEs and agencies that are expected to provide support to them.
This was contained in the presentation of findings and key recommendations in a report on the Mapping and Analysis of Existing Regulations, Laws, Policies and Institutions for MSME development and employment promotion in Lagos state. The Office of Sustainable Development Goals and Investment (OSDG&I) did the presentation in partnership with Gesellschaft für Internationale Zusammenarbeit (GIZ) in Lagos.
The report harped on the urgent need for ministries, departments and agencies (MDAs) to improve their information dissemination to business owners, using technology to achieve the required level of reach.
The report recommended aggressive dissemination of information and awareness campaigns utilising statistics and data gathering as a tool for development and policy direction.