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Whenever there is a discussion regarding reinvigorating the business environment in Kenya, they inevitably pivot to the fact that MSMEs contribute about 34% of the GDP and employ about 15M people. - @CAK_Kenya
#WCD
#WCD2021
#WCD
#WCD2021
Unfortunately, a fifth of these small firms fail in their first year and just a third survive past their tenth birthday.
The survival rates are attributed to hurdles disproportionately facing SMEs such as unfair competition practices including incidences where buyer firms with superior bargaining power delay payments, impose unfair contract terms or transfer costs when dealing with suppliers.
Today is the World Competition Day #WCD which is marked annually to promote public understanding of competition enforcement and benefits to consumers.
#WCD2021 Theme: Competition Policy for an Inclusive and Resilient Economy.
#WCD2021 Theme: Competition Policy for an Inclusive and Resilient Economy.
According to OECD, "...competitive markets are key drivers of economic growth, productivity and are valuable channels for consumer welfare..."
#WCD2021
#WCD2021
