SMEs and startups play a very vital role in every nation’s economy. In Nigeria, the Federal bureau of statistics reports that they constitute about 97% of the nation’s economy, serving as major source of employment, drivers of innovation and a major tool for socio-economic development through the payment of taxes and other developmental levies imposed on them by the three tiers of government.
Multiple/Illegal taxation has impeded the success of SMEs and small businesses in the Niger Delta region, as well as in Nigeria; hence the decision to set up the ideation session. It is designed to be an atmosphere for concerned individuals in the region to brainstorm on possible technology-based solutions to this problem.
SMEDAN also posits that 80% of small businesses fail before their 5th year and amongst the causes of failure listed was the issue of “multiple taxation”. It is a given that SMEs ought to contribute to development of their business locale through their taxes and levies. However, in a situation where these dues or levies are not clearly stated or channels of payment not clearly identified, SMEs are then forced, often times illegally, to make payments to several bodies and institutions that identify themselves as “government agencies”.
How can we leverage on technology to ensure that:
- SMEs are taxed according to their strengths and according to the amount of revenue they generate.
- Government is able to keep track of all taxes and levies that are being paid into its coffers.
- Businesses are not illegally hounded for non-payment of levies and taxes by ambiguous governmental agencies.
ABOUT FOCUSHUB NIGERIA
FocusHub Nigeria is a new technology entrepreneurship and social innovation hub in the Niger Delta, based in Port-Harcourt. We have a mandate to create sustainable business models dedicated to solving development challenges encountered in the Niger Delta.
We are a non-profit community center/hub where startups, SMEs, entrepreneurs, IT developers and programmers, impact investors, students, corporate and private organizations meet and interact for the purpose of technology and knowledge transfer, mentoring, training, incubation and networking. The ultimate aim being to drive economic growth, create jobs and enhance the competitiveness of the Niger Delta.
if you would like to be a part of this discussion, please click on the link provided here to register for the event.
Venue: Mr Biggs hall #39 Elelenwo Street GRA Phase II, beside Skippers Fastfood, Port Harcourt
Date: 2nd April, 2016
For more information, please call 08180187070 or send an email to email@example.com