Informality has too much effects on the economic accountability and growth. Economic freedom is hindered in such circumstances, entrepreneurs won't see business as a means of economic freedom couple with the too many constraints of being informal. In Cameroon majority of the Small and medium size enterprises (SMEs) are informal - a recent study showed that. This project provides a sure way for converting informal entrepreneurs to formal businesses for their long term sustainability of SMEs.
Because of lack of training, information flow and guidance on where and how to get a small and medium size enterprise (SME) registered and become formal. Informal SMEs are growing faster and efforts are needed to revamp the sector to help that their contribution is counted in the nation's economic growth and development.
This project aims to train, sensitize, promote and convert (register) entrepreneurs and small businesses from informal to formal sector. To help youths and young people starting businesses gain the necessary entrepreneurship skills and to help them transform themselves, their community, society and country to an emerging nation with themselves attaining economic freedom.
- Increase in employment rate - Increase economic growth and development - Increase tax revenue - Increase SMEs contribution in the nation's GDP - Reduce the number of informal SMEs while increasing the number of formal SMEs.
