‘Many chances for small firms’
15.01.2010
There are now many chances for Seychellois to start small businesses, pioneer entrepreneur Raymond Clarisse and Finance Minister Danny Faure have said.
On Tuesday Mr Faure visited Mr Clarisse’s garage in Victoria, where cars are repaired and washed, and said such small businesses make a big contribution to the country’s economy.
He said Mr Clarisse was among the first people to set up cleaning agencies 22 years ago and has a lot of good advice to offer young people.
“For the country’s economy to work well, we cannot just have big companies hence our policies are aimed at encouraging the creation of more small businesses,” said Mr Faure.
“The small businesses that we have contribute a lot and also provide employment.”
Mr Faure said as a pioneer, Mr Clarisse can offer advice, explaining the paths he has followed to create his businesses and what challenges he has met, including competition from upcoming agencies.
He said the visit was also a chance to explain to Mr Clarisse what the new tax policies are and how they will help both the public and small businesses.
“We in government are playing the role of facilitator and we need to continue giving information regarding the new realities, for example what the new tax laws say,” he said.
“For example, we need to remind small business operators like Mr Clarisse that sole traders like individuals who earn up to and not more than R100,000 profit annually will not pay business tax. Profit between R100,000 and R1 million will attract 18.75% tax, and 33% for any amount above R1 million.
“The government is outsourcing many of the services it was offering, for example in schools and hospitals. What is important is to persevere initially despite teething problems, as Mr Clarisse did.”
Mr Clarisse said there are many opportunities that young people should take up, adding that he alone cannot, for example, do all the cleaning that needs to be done in all the districts and islands of Seychelles.