Mauritius Budget 2020-21: SMEs
Glad to see a few of our budget representations and causes we have been advocating for years taken into consideration:
- Margin of Preference of 30% for manufacturing SMEs.
- Venture Capital Market set up at the SEM for start-ups and SMEs.
- DBM earmarked Rs 10B to support distressed SMEs and Cooperative Societies with loans of up to Rs 10M per enterprise at a rate of 0.5% p.a.
- For women entrepreneurs, DBM will provide Rs 200M for loans at a rate of 0.5% p.a.
- SMEs with ‘Made in Moris’ label will benefit from a Margin of Preference of 40% instead of 30% under Public Procurement.
- ISP Ltd will subsidise 50% of the factoring fee per invoice for SMEs.
- Procurement Policy Office will require Public Bodies to procure specific goods and services from SMEs only.
- Public Bodies will pay SMEs within 14 days from invoice date.
- SMEs and cooperative societies will benefit from a grant of 15% on cost of assets of up to a maximum of Rs 150K.
- Contribution Sociale Generalisee, a progressive system of contribution, will benefit SMEs.
- DBM will scale up its Campus Entrepreneur Challenge competition & first 10 best projects financed at a rate of 0.5 % p.a for up to Rs 500K.