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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.