Opening Remarks by the PS Trade
It is a pleasure to be here this morning.
I appreciate the opportunity to take part in the official opening of
this
public lecture series aimed at equipping young people who are
starting business in the creative sector with advanced business
principles and skills. The Government recognizes the young peoples
potential in identifying business/investments opportunities. We are
told that talent creates its own opportunities, however at times it
seems that intense desire creates not only its own opportunities, but
its own talents too.
Small enterprises can be a seed bed for
new ideas and a testing ground for new ways of working. They often
lead to the way in new products and new services. The enterprises
contribute significantly in creating self employment. Employment
creation is a necessary component of economic recovery and
performance, and small enterprises play an important role in this
regard.
I want to pay tribute to the work and
achievements of the British Council in the organisation of the
lecture series which will certainly improve the young peoples
potential in identifying business opportunities to generate income.
As you know, globalization,
technological innovation, and increased reliance on outsourcing are
exerting pressure for downsizing in private and public sector
enterprises. This is rendering many people jobless and putting
pressure for building new set of skills in the knowledge based
economy.
I am aware of the challenges that the
youth who have ventured in business face, including: Unfavorable
policy environment, limited access to markets, limited access to
finance, inadequate access to skills and technology, limited access
to information, inadequate enterprise management skills, limited
linkages with large enterprises among others.
To manage these challenges, we need to
work together to come up with specific interventions that will ensure
youth enterprises perform and graduate to medium and large
enterprises.
At this juncture, let me talk on the
catalytic role my Ministry plays in trade development, poverty
reduction and wealth creation within the ambit of the Kenya Vision
2030. In this regard, the wholesale and retail trade has been
identified as one of the key sectors in the economic development of
Kenya as the sector is the link between production and consumption.
As you know, most of the employment in
trade s found in the informal sector represented mainly in the Micro
and Small Enterprises. My ministry's challenge, therefore, is to
mainstream the informal sector by providing it with the support it
currently lacks: secure business location, credit, training, and
access to markets. The Ministry employs specific strategies to;
improve the general business environment, strengthen the capacity of
the informal enterprises operators, enhance the supply chain systems,
enhance business management skills, and improve information access
dissemination.
The ministry is in particular
sensitizing the youth and the business community on the benefits
arising from the integration of the East Africa Countries (EAC).
This will enhance the possibilities of
achieving advantages of economies of scale and scope and use of
resources and markets available-goods, services, skills, capital and
related factors of production-in the enlarged single economic space.
This would include any type of busiesses in another Member state
whatever the structure of the business-family-owned or corporate.
The Ministry is in the process of
establishing business solutions and information centers which are
structured to be a one-stop shop for an integrated mix of business
services for youth taking up self-employment within the MSE sector
and other existing MSEs throughout the country thus catalyzing
employment creation and economic growth in the rural ares. The
centers will offer, among others, the service of; Information
Systems on Markets, Investment and Technology, Identification of
Potential Business opportunities and profiling, Business Skills and
entrepreneurship Development, Development of incubation support for
micro and small enterprises, access to financial services, Technology
Research and Transfer, Development of Rural markets and Linkages and
Provision of Busiess Service Facilities
These services will greatly enhance the
livelihood of the youth and local communities as the centers that
will contribute to the stimulation and growth of micro and small
enterprises in these areas
The ministry is also enhancing the
investment environment to attract financing and offer incentives in
the needed fields e.g. technology and information and Communication
Technology (ICT). By doing so this will encourage the competitiveness
of SMEs, promote the establishment of support agencies including
entrepreneurial centers, address the need to access training and
education in, for example, entrepreneurial competence and business
management, encourage financial institutions to provide appropriate
and innovative financing instruments, promote innovation within the
small enterprise sector.
I note with appreciation the Creative
Enterprise Public Lecture series initiative will go a long way in
changing the mindsets of our youth and transform them from a
dependent to self-reliant individuals.
In conclusion, I once again thank the
British Council profoundly for this initiative and we hope this will
be cascaded to as many youth as possible and in different areas of
creative arts entrepreneurship.
With these remarks, it is my pleasure
to declare the Creative enterprise Public Lecture series officially
open.
Thank you.
