MSMEDA launches elec­tronic plat­form to mi­cro, small en­ter­prises by 2019: Gamea

Agency her­alds Mof­tah Mashro’ak com­pe­ti­tion sup­port­ing en­trepreneurs with Min­istry of Youth

The Daily News Egypt - - News - By Hos­sam Mounir

The Mi­cro, Small, and Medium En­ter­prises De­vel­op­ment Agency (MSMEDA) is launch­ing an elec­tronic plat­form to serve mi­cro and small en­ter­prises in the be­gin­ning of 2019, ac­cord­ing to Nevin Gamea, CEO of MSMEDA.

She ex­plained that this plat­form is in co­op­er­a­tion with most of the de­vel­op­ment part­ners in­volved in this sec­tor,in or­der to present the var­i­ous fi­nanc­ing, train­ing, tech­ni­cal and mar­ket­ing ser­vices pro­vided by these en­ti­ties to small and mi­cro en­ter­prises to pro­mote this im­por­tant eco­nomic de­vel­op­ment sec­tor.

Gamea’s re­marks came dur­ing her par­tic­i­pa­tion in the ses­sion on en­trepreneur­ship, and the role of small en­trepreneurs in the de­vel­op­ment of the global econ­omy dur­ing the World Youth Fo­rum.

The main prob­lem faced by youth in the past was the dif­fi­culty in pro­ce­dures for ob­tain­ing li­censes and per­mits, adding that the state fa­cil­i­tated these pro­ce­dures and de­creased their costs through sev­eral con­cerned min­istries and in­sti­tu­tions, MSMEDA’s CEO in­di­cated.

Gamea added that MSMEDA has pro­vided many fa­cil­i­ties to im­prove both the reg­is­tra­tion ex­pe­ri­ence and com­pany es­tab­lish­ment steps through­out its out­lets across Egypt, which in­cludes one-stop shops which grant all pa­per works such as com­mer­cial and tax reg­is­ters from one place.

Fur­ther­more,The CEO stated that a new law on small projects is un­der way, which in­cludes so­lu­tions to all the prob­lems fac­ing the sec­tor, start­ing with def­i­ni­tions and the avail­abil­ity of fund­ing, and the es­tab­lish­ment of tax pack­ages and non-tax in­cen­tives, which will stim­u­late their merger with the of­fi­cial sec­tor.

On MSMEDA’s con­tri­bu­tion to­wards eco­nomic op­por­tu­ni­ties for youth and eco­nomic growth of the coun­try, Gamea stressed that the MSMEDA pro­vides youth with a full range of fi­nan­cial and non-fi­nan­cial ser­vices, start­ing with choos­ing the idea of the project, of­fer­ing train­ing cour­ses on how to launch and de­velop the project, mar­ket­ing ser­vices and in­ter­nal and ex­ter­nal ex­hi­bi­tions, as well as fea­si­bil­ity stud­ies mod­els for some projects of dif­fer­ent types.

MSMEDA also of­fers a va­ri­ety of fi­nanc­ing ser­vices through var­i­ous chan­nels, which in­clude di­rect lend­ing, in­vest­ment and ven­ture cap­i­tal, as well as in­ter­me­di­aries fi­nanc­ing.

Pre­vi­ously, Gamea stressed, MSMEDA an­nounced the launch of Mof­tah Mashro’ak (Key to you Project) com­pe­ti­tion to sup­port en­trepreneurs, in co­op­er­a­tion with the Min­istry of Youth and Sports, from 30 Oc­to­ber 2018 for one month.

The terms and con­di­tions of the com­pe­ti­tion can be found on MSMEDA’s web­site, on the Small Projects Plat­form, or on the web­site of the Min­istry of Youth and Sports.

Ac­cord­ing to MSMEDA, ap­pli­cants should ap­ply on http://www.msmeda. org.eg/ reg­is­ter­a­tionform.aspx

This com­pe­ti­tion aims to se­lect the best youth projects, sup­port en­trepreneurs, en­cour­age them to es­tab­lish small projects in any field, whether in­dus­trial, ser­vice, com­mer­cial, as well as in­no­va­tive ideas.

MSMEDA will pro­vide the nec­es­sary train­ing, con­sult­ing, and busi­ness ad­vice to the con­tes­tants. It will also con­trib­ute EGP 100,000 in funds to the top three projects in each gov­er­norate, to­talling 81 projects through­out the coun­try.

The Min­istry of Youth and Sports will pro­vide lo­ca­tions for these projects within its youth cen­tres, which the youth will se­lect from the list of youth cen­tres set by the min­istry.

Nevin Gamea, CEO of MSMEDA

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