Ibrahim Ziyau, Managing Director of the Business Centre Corporation (BCC), has said that work is under way to review regulatory frameworks related to small businesses and introduce important reforms that are needed.
Ziyau made the remarks in a statement issued on the occasion of World Entrepreneurs' Day.
The BCC Managing Director said significant changes have taken place in the business environment alongside the rapid changes taking place around the world. With advances in technology, opportunities have expanded for skilled individuals such as artists, designers, developers and freelancers to turn creative ideas into sustainable businesses.
He said that, particularly for an island nation such as the Maldives, the digital and creator economy represents a valuable opportunity for young people to gain access to international markets.
Ziyau said the creator economy being developed alongside the Government’s digital policy would play an important role in brightening the future of Maldivian youth and creators. He also highlighted that it would open up more opportunities for small and medium-sized enterprises (SMEs) and young entrepreneurs.
He said BCC was carrying out extensive work to ensure that Maldivian creators have full access to the services of the “Creator Hub”, which is being established as part of efforts to strengthen the Maldivian economy through the creator economy.
According to Ziyau, BCC’s aim is to use the Creator Hub as a platform to provide creators with the support and resources they need under one roof.
He said BCC would continue to provide SMEs with guidance, training and access to market opportunities, contributing to the realisation of the national vision.
“As part of our efforts to create favourable conditions for small and medium-sized businesses, BCC is reviewing regulatory frameworks related to small businesses and, in collaboration with relevant stakeholders, working to introduce the important reforms that are needed. We are also identifying the areas SMEs need to strengthen their businesses and giving priority to specific initiatives to facilitate those areas. This will be an important effort to expand the role of SMEs in the economy,” Ziyau said.
He said the island or location where a business owner is based should not become a barrier to the opportunities available to them.
Therefore, Ziyau urged young people with an entrepreneurial mindset to make full use of the opportunities that are increasingly becoming available today and move forward with their businesses.