History Of Entrepreneurship In Mauritius Business Essay

History Of Entrepreneurship In Mauritius Business Essay Several measures and policies have been implemented since independence regarding SMEs, the priority of the government of maximizing social welfare has been considered through the creation and promotion of entrepreneurial businesses. The origins of SMEs in Mauritius begins in the 1960s when Mauritius was experiencing a timid industrialization change-over with the main objective of supplying the local market with imported goods and helping the country to gain a certain autonomy. At that time, the government was encouraging the production of different types of commodities such as manufacturing of blades, electrical bulbs, batteries, soap, welding and steel work for construction, refining edible oils, plastic industry, food canning, industrial poultry breeding, yogurt manufacturing, biscuits, shoes and so on for the domestic market. The Ministry of Commerce and Industry established the Small Scale Industry Unit (SSIU) in 1976 which in 1983 became the Small Industry Development Organizati on (SIDO), the primary aim of such company was to provide general advice and guidance to small businesses and in 1988, the Small Scale Industry (SSI) experienced a true change-over through the presentation of the Small Scale Industries Act. This act promoted the development of the SSI by adopting a legal definition of SSI, voluntary registration of SSI, duty exemption on production equipment and the setting up of an advisory board. The Industrial Expansion Act 1993 consisted of the SMIDO Act which was considered as the next landmark in promoting entrepreneurship in Mauritius, the idea was to establish a framework for consolidating, expanding and enhancing the competitiveness and developing a SME sector. The government implemented a Ministry of SMEs in December 2003 and two years after the Small Enterprises and Handicraft Development Authority (SEHDA) was created following the union of the SMIDO and the National Handicraft Promotion Agency (NHPA). The SEHDA main objective was to prom ote a more effective and efficient use of available resources allocated to the entrepreneurial sector in Mauritius. The SEHDA Act 2010 was replaced by the Small and Medium Enterprises Development (SMEDA) Act and this was the latest development with regards to the SME policy framework in Mauritius. The SMEDA nowadays works under the aegis of the Ministry of Business, Enterprise and Cooperatives and represent one of the most well-known organizations promoting entrepreneurship in the Mauritian economy. Definition of entrepreneur and entrepreneurship Who is an entrepreneur? The term entrepreneur has been defined in various forms over the past years based on professional experience of individuals or based on observations and researches made to understand what an entrepreneur is. According to the Irish-French economist Richard Cantillon (1725), an entrepreneur is someone who accepts to pay a certain price for a commodity (for instance materials) and to resell it at another price thus deciding about the practical use of resources while consequently admitting the risk of enterprise. The French economist Jean-Baptiste Say (1803) stated that a business person is an economic agent who regroups all factors of production- land, labor, and capital and produces a product as such shifting economic resources out of an area of lower productivity to a higher one. The American management consultant Peter Drucker (1964) stated that an entrepreneur is one who looks for and respond to change, thus enjoying opportunities by converting a source into resource. Another defini tion implied that an entrepreneur is an individual starting a new business in a new market where no one before has started business, this was stated by W.B. Gartner in 1985. Thus it can be seen that the definition of an entrepreneur varies according to time and according to observations and perceptions of people who considers it as mainly individual making money by accepting to take risks to achieve his/her goal. But in order to understand clearly the concept, a simpler but direct definition should be considered and as such, an entrepreneur is an individual who decides to take the risks of managing a business and especially manipulating factors of production such as land, labor and capital for the sake of making profit. The main characteristics that an entrepreneur should possess are enthusiasm, intelligence, creativity, determination, courage to take risks, communication skills, human relation abilities, business secrecy, administrative ability, ability to manage pressure, leading skills, technical knowledge, problem-solving skills and so on. Entrepreneurs are classified based mainly on Functional characteristics being innovative, imitative, skeptical, cautious, or resistant to change. Development angle- being eager for expansion, survival, efficient, or concentrated only on local trading. Types of entrepreneurial business- manufacturing, wholesaling, retailing, or service business. Nine personality types of entrepreneurs- being an improver, advisor, highly qualified, highly creative, visionary, analyst, optimistic, leader, determined. Types of motivation- motivated by profit, rewards, and self-fulfillment. Types of area- urban or rural entrepreneurs Types of gender- male or women entrepreneurs. What is entrepreneurship? The term entrepreneurship has also been defined by some researchers, economist and consultants where different meanings have been developed in order to clarify what it is really. According to the economist Joseph Schumpeter in the 1930s, entrepreneurship employs the concept of gale of creative destruction where past innovations on the market are replaced by new ideas thus implementing new concepts for boosting economic growth. The two American economists Peter Drucker (1970) and Frank H Knight (1921) stated that entrepreneurship deals with taking risks for the sake of making money , the acts of free enterprise is often subjected to no guarantee that the individual will be able to challenges the market uncertainties. Entrepreneurship is considered to be a major driver of economic growth for a country according to the American economist David B. Audretsch, in Mauritius for instance, SMEs re greatly participating in the development of the country, especially in reducing poverty and unem ployment. But for now, let us define what entrepreneurship is really. It is the process of increasing business interests by adopting creativity and innovation in a way to set up an enterprise. It is the action of an individual involve in minimizing the use of resources and taking risks in order to generate profits. In Mauritius, free enterprise is usually referred to as Small Medium Enterprises (SMEs) where a small enterprise is defined as a business generating an annual turnover of around 10 million rupees and medium enterprise is defined as a business having an annual turnover of not more than 50 million rupees. The SMEDA in collaboration with the Ministry of Business, Enterprise and Cooperatives aims at promoting emergence and competitiveness of SMEs, advising the Ministry regarding how to control the SMEs sector and implementing support programmes. http://www.sbmgroup.mu/images/653_200_sme.gif Incentives for entrepreneurship For the past decades, there have been many incentives and supports given to enterprises for the promotion of the SME sector in Mauritius. The Ministry of Business, Enterprise and Cooperative has been working with different institutions to be able to provide the most services possible to small and medium enterprises, the budget 2012-2013 has considered financial services which include the release of Rs 3bn of loans from the banking sector to SMEs till 2014 at an interest rate of 3% above the repo rate that is 8.5 % and processing costs and related charges will be renounced. Here is a list of the different institutions and support schemes given to entrepreneurs. Small and Medium Industries Development Organization (SMIDO) Export Credit Guarantee Insurance Scheme: Joint effort of SMIDO and SICOM Ltd Protects the exporting SME against failure of buyer to pay all export transactions after shipment Pays 85% of the invoice value to the policyholder in cases of default Export Assistance Scheme Financial support to enable SMEs forward samples of their products abroad to prospective buyers 50% refund on airfreight subject to a maximum of Rs. 2000 twice a year Start-Up Scheme Financial support of up to a maximum of Rs. 100,000 to entrepreneurs to set up their enterprise Prospective recipients have to enter Business Plan Competition Training, Consultancy and Benchmarking Impart new and develop latent Skills, and Knowledge of entrepreneurs in various areas/fields through Training programmes, workshops and seminars Company analysis and guidance Business Counseling and Information Information and guidance to potential and existing entrepreneurs Assist entrepreneurs to prepare or update a comprehensive business plan Monitoring of business and advice Feasibility Study Grant Scheme Grant equivalent to 50% of the costs of a feasibility study for a viable project Max. amount granted Rs. 75,000 Study is to be undertaken by an approved consultant/consultancy firm Mauritius Industrial Development Authority (MIDA) Export Business Support Scheme Financial support for participation in trade missions organized by MIDA funding of up to 75% of cost of stand and 25% refund on the cost of air tickets Financial support for participation in other trade shows funding of up to 60% of cost of stand and 25% refund on the cost of air tickets International Credit Checking Service 50% refund on the cost of each search effected, subject to a max. of 5 company checks per annum SME Exhibition Centre Virtual Exhibition Centre Showcase and Communicate products of SMEs to both local and foreign buyers. Industrial Buildings/ Estates Rental of industrial buildings tailor-made for SMEs Overseas Market Testing Free testing of products in selected markets Assistance, Advice and Information Advice on Development of Promotional Tools Advice on Export Documentation Product Information in selected markets Assistance in Market Research Trade Information Centre Assistance and guidance for marketing trips Loans offered by the Development Bank of Mauritius (DBM Ltd) Scheme Max. Quantum Allocated Max. Loan Amount Interest Rate   (per annum) Term   (years) Start-ups 90% of cost of project Rs 200 000 8% 4 Financing of Production Equipment 70% of cost of equipment Rs 3 m 10 11% 5 Technology Improvement Scheme 60% of cost of project Rs 1 m 9% 6 Working Capital 70% of cost of stock Rs 400 000 to Rs 1 m 10 12% 4 Business Sector 70% of project costs Rs 3 m 12% 5 Construction of Office Commercial Space 70% of project cost Rs 3 m 12% 7 Construction of Industrial Building 60% to 90% of project costs Rs 3 m 11.5% to 12% 10 Printing Publishing 60% of cost of new equipment Rs 3 m 10% 5 Local Newspaper 60% of the cost modernization Rs 2 m 8% 5 General Service 70% of cost of project Rs 3 m 12% 5 Freeport Sector 75% of working capital requirements Rs 1 m 12% 5 ICT Sector 75% of cost of project Rs 1 to 5 m 8% 5 Joint Venture with Overseas Partners Rs 1 m 10% 6 Export Development Fund (for Overseas Market Surveys and Participation in Trade Fairs) 70% of project cost Rs 100 000 3% 3 Selected Investment Schemes Scheme/Certificate Qualifying Activities Key Incentives Export Enterprise http://smido.intnet.mu/images/bullet.gifManufacture of goods principally for exports No customs duty or VAT on raw materials and equipment Corporate tax of 15% No tax on dividends and capital gains 60% remission of customs duties on buses of 15-25 seats 50% exemption on the normal registration fee for the purchase of land and buildings 50% relief on personal income tax for 2 expatriate staff Pioneer Status Enterprise http://smido.intnet.mu/images/bullet.gifActivities involving above average technology and skills   http://smido.intnet.mu/images/bullet.gifActivities likely to enhance industrial and technological development No customs duty on raw materials and equipment as per schedule list Corporate tax of 15% No tax on dividends Strategic Local Enterprise http://smido.intnet.mu/images/bullet.gifManufacture of goods for local market http://smido.intnet.mu/images/bullet.gifActivity likely to further economic, industrial and technological development Corporate tax of 15% No tax on dividends Small and Medium Enterprise http://smido.intnet.mu/images/bullet.gifManufacturing activity subject to an investment in production equipment not exceeding Rs 10m No customs duty on production equipment and raw materials as per schedule list Corporate tax of 15% Freeport Enterprise http://smido.intnet.mu/images/bullet.gifOperations in the Freeport   http://smido.intnet.mu/images/bullet.gifGoods for export only http://smido.intnet.mu/images/bullet.gifStorage, assembly, redistribution and logistics No Corporate tax No tax on dividends No customs duty on raw materials, goods and production equipment Reduced port handling charges for all goods destined for re-export Barriers to entrepreneurship in Mauritius Development of entrepreneurs in Mauritius List of organizations engaged in promoting entrepreneurship Small and Medium Enterprises Development Authority (SMEDA) Mauritius Industrial Development Authority (MIDA) Development Bank of Mauritius ( DBM) Board of Investment (BOI) Mauritius Freeport Authority (MFA) Association Of Mauritian Entrepreneurs ( AME) Human Resource Development Council (HRDC) Conclusion

Converting Switchgrass to Biofuel Essay -- Biology Ethanol Alternative

Introduction: People need energy, it’s a fact. We need it for our cars, for our televisions and for our iPods. We need it all the time, every day. The simple fact is though, we are running out. Carbon based fuels are being used at an alarming rate every day. And every day our demand increases as our society becomes more and more reliant on technology. There is only so much oil in the world though and when that is gone we need to look for alternative sources of energy. Sources like ethanol produced from Switchgrass. In 2004 an article was published on the creation of ethanol from gases made from switchgrass. The article was titled, â€Å"Fermentation of Biomass-Generated Producer Gas to Ethanol.† This article held produced several interesting results. First it demonstrated that producer gas could be generated from biomass (Switchgrass) and that the producer gas could be fermented to produce ethanol. Second the cells stopped growing but did not die. During this period of non-growth ethanol was produced. Third H2 utilization ceased and fourth â€Å"cells began growing again if ‘clean’ bottled gases were introduced following exposure to the producer gas† (Datar, Shenkman, Cateni, Huhnke and Lewis 2004, p. 1.) Switchgrass – Panicum virgatum Why switchgrass? Thats the question of the hour. And to tell there truth there are a lot of reasons. Firstly and foremost is the fact that there are millions of dollars in government funding available. Secondly switchgrass is grown across the entire center of the united states in a variety of environments. Switchgrass is hardy and adaptable, it grows large and fast, sometime reaching slightly over ten feet in height. As a bonus switchgrass also processes water very efficie... ...ide, 4.4% Hydrogen Gas, and 4.2% Methane gas. The actual gasified switch grass however, did not have this composition and had some unknown molecule or molecules that was damaging to the cells. This unknown molecule or molecules could be oxygen, nitric oxide, or ammonia, all of which are known to negatively affect cells. This article was published in 2004 and, the follow up experiment that addresses these impurities was conducted by the same people in 2005. In this experiment they found that the gas did in fact have many impurities and an extensive gas cleaning procedure needed to be implemented in order to effectively harvest ethanol from the bacteria P7. The molecule that was mostly responsible for disrupting the cell was nitric oxide. All in all it seems entirely viable to use this biological process in order to manufacture ethanol for wide spread use.

Shc 31 1.1 1.2

SHC 311. 11. 2 Communication 1. 1 Communication is an integral part of everyday life, especially for children, Who may not be able to vocalise their needs, and be able to carry out their Own basic needs, there are many reasons for communication and these include: Expressing basic needs and requirements Expressing distress, discomfort To inform others of situations For safety Communication can also provide reassurance and comfort, it can help to diffuse situations, and it is also used to offer encouragement. 1. 2 Communication effects relationships, in a positive way it can build trust and attachments.Children in my care range in ages from a new-born, to age 10, and with the range of ages comes a range of communication skills. The new born uses his cry as a main form of communication, to indicate his need to be fed, changed, winded, or just in need of a cuddle. His cry can be different for each need, and will increase in intensity should his needs not be met. A toddler that is beginni ng to learn words, may use pointing to communicate needs and Desires, but will possibly still revert to crying in moments of distress.An older child with full vocal skills may choose not to always use words to communicate They may at times use less obvious methods such as moods, and behaviour, these are usually used in times of distress. Just as when communicating with adults the written word can be used, a child may use drawings or role play. Tears can be used to communicate both sadness and happiness. It is important to remember that communication does not always come in obvious forms, and when dealing with children it will come in a wide variety of forms, and it is also important to communicate to them reassurance and support on a continuous basis.

Rise of Nazism essays

Rise of Nazism essays After the end of the First World War, many actions were taken which indirectly lead to the rise of the Nazi party in Germany. Many of the events include the Treaty of Versailles, problems the government of Germany came across, the stab in the back theory, and the depression. This paper will talk about these events which occurred and how they correspond to the rise of the German Nazi party. One of the agreements at the Treaty of Versailles was that the industrial heartland of Germany, the Saarland, was to be worked by the Germans for the benefit of France for 15 years (lib.byu.edu/~rdh/wwi/versailles.html). With the Saarland gone it would prove more difficult for the Germans to supply iron it also made repayment of reparations less likely. The effective removal of the Saarland from German industry made the Weimar Republics position in Germany weaker. From the very start, the Weimar republic faced opposition from both sides of the political spectrum. There was potential for the reintroduction of a monarch, or even a communist state, and several attempted revolutions occurred. The public blamed their problems on the Treaty of Versailles, and in turn, blamed the government that signed it. The new government had inherited a difficult situation. It was inevitable that the new government would have faced difficulties from the start. The republic was beginning to overcome its difficulties during the mid 1920's as economic, political, and cultural improvements were occurring, and if it hadn't been for circumstances, mainly the Wall Street Crash, the republic may have prospered for many years. These circumstances gave the extremists, the Nazi's, an opportunity for advancement as the people searched for a more radical solution to the depressio...

Saving the animals essays

Saving the animals essays In Buffalo New York on October 23rd of last year, Dr. Barnett Slepian was murdered. He wasnt killed because of his financial status or because of a dispute he had with a patient. Someone who never really knew Dr. Slepian, someone who never met his family, a person who didnt agree with Dr. Slepians job, took his life. This is a great example to show how a disagreement in ideology can lead to actions that no one has the authority to take. An animal liberator bombing a meat processing plant is like the pro-life activist killing the doctor who performs abortions. Both of the actions dont achieve the results that are intended, they both claim that they help save the lives of the innocent, and they are both hypocritical. The results that are wanted can not be achieved through causing pain and suffering to the opposing party. When a sniper took the life of Dr. Slepian he was trying to move the cause of pro-life forward. The end result was not what he had wanted; the medical community was outraged and the people who believed in the right to choose strengthened their resolve. This quote by Dr. Henry Morgentaler, the countrys best-known pro-abortion crusader, illustrates this point very accurately. "This is a sign of the moral bankruptcy of the so-called pro-life movement. It bespeaks their frustration and rage at the fact that they have not been able to convince the public of the rightness of their cause," (Cnn 2) The frustration that Dr. Morgentaler mentions is even further enhanced when the pro-lifers see that their cause is regressing from public empathy. The example of the murder of Dr. Slepian is a good analogy to what the bombing of the meat processing plant would cause. The people in the factory would be massacred and the people who dont support the cause of animal liberation would be outraged. The intended result of lower consumption of animal meat would not ...

Why read The Story of An Hour by Kate Chopin (1894) Essay

Why read The Story of An Hour by Kate Chopin (1894) - Essay Example Mallard, who having a weak heart, mourns the death of her husband, Kate Chopin introduces a passage, which abruptly pictures window’s feelings of relief and freedom and thus this tragic event becomes confusing. Finally, in the exact moment when Mrs. Mallard finds out her allegedly dead husband is alive, she dies of a heart attack. From the critical perspective, the first impression from the story is undoubtedly confusing, however, a more careful analysis reveals that there are many reasons why this literary piece would be important and even necessary to read. Unlike many literary works that are essential descriptive, Kate Chopin’s â€Å"The Story of an Hour† teaches a modern reader to understand historical and social context of the story. This most popular piece of Chopin’s short fiction was written and published in 1984, and the influence of this historical epoch on the story is evident. Chopin’s women are framed and determined by the historical traditions, morals and principles. Women’s lives are limited by kitchens, children, families and occasional genteel routs. â€Å"Story of an Hour† witnesses a woman dawning on the notion of freedom after she learns of her husband’s death. Mrs. Mallard is awe-struck at her own feelings, as she has too lived her life according to the rules of middle-class white womanhood, but she lets the feelings flow nevertheless, and she makes plans for her new life: â€Å"Free! Body and soul free!† (Chopin, par.14). Chopin leaves audience with perhaps her most telling dramatic irony: the gathered community, viewing Mrs. Mallard as the pinnacle of respectable true-womanhood, decides her cause-of-death: â€Å"joy that kills† (Chopin, par.20). As in most of Chopin’s literature, her women who rebel from marriage are not rebelling from their husbands personally; rather, and perhaps worse, according to true-woman ideology, they rebel from the depletion of personal power and selfhood that

Women Trafficking and the Industry of Prostitution Research Paper

Women Trafficking and the Industry of Prostitution - Research Paper Example It is now a fiercely debated topic within the academic, legal, and social communities. This paper discusses and analyzes the debate over the legalization of prostitution. The argument of the paper is not to legalize prostitution. The points of the debate that the paper focuses on are the issue of ‘professionalizing’ prostitution, protecting the sexual wellbeing of prostituted women, and making a rational decision to engage in the industry of prostitution. But according to a large number of empirical findings, legalization of prostitution brings more harm than benefit to sex workers. A discussion of studies conducted in countries where prostitution is legalized is carried out in order to determine the actual nature and consequences of legalization of prostitution. Further research is needed on this subject in order to conclusively determine the merits and disadvantages of the legalization of prostitution. More country-specific studies are needed in order to decisively det ermine the universality of the harm prostitution brings to its victims. Introduction Prostitution is the ‘world’s oldest profession’. For centuries, women and children are dragged into a world that does not respect individual dignity and morality. Today, millions of women are trafficked into prostitution all over the world. Women trafficking and prostitution have been a challenging and complex issue for policymakers, the academic community, feminists, and social activists at the international, regional, and national levels. The problems posed by women trafficking and prostitution concern not just the abuse of women’s body by profiteers, but also the commodification and denigration of female dignity. The discourse on women trafficking and prostitution has spurred a rigorous debate on the legalization of prostitution as a solution to the growing problem of women trafficking. Prostitution should not be legalized. Prostitution will always be a form of ‘v ictimization’ because it is damaging to those who are involved in it. Legalization of prostitution will only further encourage women trafficking and prostitution. And prostitution could never be an unforced or voluntary form of labor because victims are not able to make a rational decision to take part in prostitution. The choices of these women are limited to economic survival only, which prevent them from making rationally based decisions. Prostitution is always involuntary and coerced because it is rooted in universal supremacy of men over women and is naturally and essentially a contemporary kind of sex slavery that is abusive, demoralizing, and damaging. The Debate Prostitution is widely described as a ‘crime without a victim’, particularly by those who argue that it should be legalized. But the truth is prostitution is a form of ‘victimization’: it is damaging to those who are involved in it, and it is usually coerced on an individual by severa l factors, mostly by poverty. Legalizing prostitution does not raise the status of the women; it merely professionalizes the industry of prostitution (Kara, 2010). Ditmore (2011) explains that the supporters of legalization of prostitution generally do not understand that legalization implies decriminalization of the entire industry of prostitution, not only the women trapped in it. But supporters of legalization respond to this by arguing that if the sex industry is legalized, it â€Å"would be subject to standard labor and occupation safety regulations, and it would be easier for women to fight the abuses and crimes that accompany their work† (Flowers, 2011, p. 49). Majority of prostituted women view legalization of the