The United Nations (UN) Sustainable Development Goals (SDG) 4 and 8 explicitly addresses entrepreneurship as a key factor which aims to ensure inclusive and equitable quality education and promote lifelong learning opportunities for all and sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all, respectively. Growth-oriented entrepreneurs also contribute to structural transformation and building of new industries, including the development of eco-friendly economic activities implying that entrepreneurship has the potential to address mostly all SDGs.
Industrial development on the other hand addresses SDG 9 - Achieving Sustainable Industries through innovation and adequate infrastructures. As a key contributor to the rapid growth of an economy, Industrial Development and industrialization improves standards of living by the rise in income, and therefore, increase in savings, investments and spending. The Industrial Development of a country therefore, is pivotal due to the employment opportunities it generates, the advancement of innovation and technology it involves and the self-dependency it enjoys.
Government, through the Department of Industry and Entrepreneurship Development, supports the development of businesses and budding entrepreneurs through the formulation of pro - entrepreneurial and industrial policies. The Department’s vision is to have a leading, resilient and self-dependent economy supported by innovative MSMEs harnessing their growth to nourish the domestic and global markets.
The private sector remains the economic pulse stirring action for development however they require overcoming resource constraints, building and strengthening capacities, and exploring ways (mostly innovative) to promote growth. Only then, as a country, we can foster more successful and resilient businesses to drive economic growth and generate more employment opportunities. To attain such a common economic goal, continuous dialogue between policy makers and MSMEs remains our core priority.
Warm Regards, Angelique Antat