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Several measures taken by Government to assist SMEs, states Minister Bholah

Date: May 05, 2020
Domain:Business & Industry; Health
Persona: Business; Citizen; Government; Non-Citizen

GIS – 05 May 2020: The Wage Assistance Scheme has already been implemented by Government, through the Mauritius Revenue Authority to assist employers with their wage bill for the duration of the lockdown, given the pressure that SMEs are facing with their cash flow and the uncertainty surrounding restart of business. This measure also aims at avoiding undue panic and laying off of workers.

This statement was made by the Minister of Industrial Development, SMEs and Cooperatives, Mr Soomilduth Bholah, at the National Assembly today, in a reply to a Parliamentary Question pertaining to the immediate measures taken and schemes set up at the level of his Ministry to help small and medium enterprises (SMEs) which are on the verge of insolvency amid the Covid-19 lockdown.

Minister Bholah highlighted that the exceptional circumstances created by Covid-19 and resulting business uncertainties are impacting heavily on the survival of SMEs. Given the vital importance of SMEs which represent 40% of value and wealth creation and 55% of the workforce of the Mauritian economy, Government has urgently put in place a series of measures to ensure survival of industries, especially SMEs.

A Covid-19 Plan de soutien to provide support to eligible enterprises, underscored the Minister, has been set up at the level of the Development Bank of Mauritius and comprises the State Investment Corporation Ltd, Investment Support Programme Ltd, SME Equity Fund Ltd and SME Mauritius. Six financial schemes are being offered to SMEs, namely: the Leasing Equipment Modernisation Scheme; the SME Factoring Scheme; Corporate Guarantees to Banks; Equity Financing queasy equity; the Revolving Credit Fund; and the Enterprise Modernisation Scheme.

Moreover, stated Minister Bholah, SME Mauritius has announced five schemes in March 2020 in order to ensure the sustainability of SMEs. They are: the Internal Capability Development Scheme; the Technology and Innovation Scheme; the SME Marketing Support Scheme; the Inclusiveness and Integration Scheme; and the SME Utility Connection Assistance Scheme.

He further expressed confidence that all these measures will help in alleviating the harsh financial situation that SMEs and businesses in general are currently facing. Government will leave no stone unturned during these challenging times and will further introduce measures deemed appropriate to share the burden of SMEs and other businesses, he added.

​​Government Information Service, Prime Minister’s Office, Level 6, New Government Centre, Port Louis, Mauritius. Email:  Website:  Mobile App: Search Gov

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