German economic miracle was driven by family-owned SMEs called mittelstand. Japan economic miracle was driven by locally family-owned SMEs in alliances known as Keiretsu. S. Korea had Chaebols. In Taiwan SMEs made 50% of world's umbrellas in 1989.
In Kenya, we are killing SMEs.
In Kenya, we are killing SMEs.
We fancy economic models of successful nation's but fail to emulate their examples. Our economic renaissance will not be driven by foreign-owned multinationals but by family-owned local enterprises (SMEs). Policies that promote their growth is what we need, not crippling taxes.
Kenya has sufficient local skills & vibrant entrepreneural spirit & only needs a conducive macroeconomic environment to deliver Kenya's economic miracle. That's the missing link.
Besides crippling taxes & levies, GoK has normalised withholding payments for supplies made by SMEs hence starving them of liquidity. As a consequence, many have had stunted growth & a significant number dying under a mountain of debts. No economy grows with high SME mortality.
