Micro and small enterprises (MSMEs) are a key pillar in national economic development. This is the reason they generate a lot of interest among economic planners.
Falling under the Micro and Small Enterprises Act, these micro enterprises have a maximum turnover of Sh500,000 and employ less than 10 people, while small enterprises have a turnover of between Sh500,000 and Sh5 million and 10 to 49 employees.
Although medium enterprises are not covered under this law, they are said to make a turnover of between Sh5 million and Sh800 million yearly and have 50 to 99 employees. There about 7.5 million MSMEs, contributing 40 per cent to the GDP.
Micro and small enterprises hold key to national prosperity – Daily Nation
Micro and small enterprises (MSMEs) are a key pillar in national economic development. This is the reason they generate a lot of interest among economic planners.
Falling under the Micro and Small Enterprises Act, these micro enterprises have a maximum turnover of Sh500,000 and employ less than 10 people, while small enterprises have a turnover of between Sh500,000 and Sh5 million and 10 to 49 employees.
Although medium enterprises are not covered under this law, they are said to make a turnover of between Sh5 million and Sh800 million yearly and have 50 to 99 employees. There about 7.5 million MSMEs, contributing 40 per cent to the GDP.
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