CHAPTER 43:10
SMALL BUSINESS

ARRANGEMENT OF SECTIONS

    SECTION

PART I
Preliminary

    1.    Short title

    2.    Interpretation

PART II
Local Enterprise Authority

    3.    Establishment of Local Enterprise Authority

    4.    Functions of Authority

    5.    Appointment of officers and employees

PART III
Board of Local Enterprise Authority

    6.    Establishment of Board

    7.    Appointments to Board

    8.    Composition of Board

    9.    Tenure of office

    10.    Disqualification

    11.    Removal of member from Board

    12.    Resignation

    13.    Vacation of office

    14.    Filling of vacancy

    15.    Remuneration

    16.    Meetings and proceedings of the Board

    17.    Declaration of interest

    18.    Committees

    19.    Signification of documents

PART IV

    20. - 22.    [Repealed.]

PART V
Financial Provisions

    23.    Funds

    24.    Financial Year

    25.    Accounts and audit

    26.    Annual report

PART VI
General

    27.    Regulations

Act 7, 2004,
Act 16, 2008.

An Act to establish the Local Enterprise Authority and to provide for functions and matters incidental thereto.

[16 of 2008, s. 2.]

[Date of Commencement: 13th February, 2004]

PART I
Preliminary (ss 1-2)

1.    Short title

    This Act may be cited as the Small Business Act.

2.    Interpretation

    In this Act, unless the context otherwise requires—

    "Authority" means the Local Enterprise Authority established under section 3;

    "Board" means the Board of the Local Enterprise Authority established under section 6;

    "Chairperson" means the chairperson of the Board appointed under section 8(3);

    "Council" ...;

[16 of 2008, s. 3(a).]

    "medium enterprise" means a business entity with such annual turnover and staff complement as the Minister may, by Order published in the Gazette, prescribe;

    "member" means a member of the Board;

[16 of 2008, s. 3(b).]

    "micro enterprise" means a business entity with such annual turnover and staff complement as the Minister may, by Order published in the Gazette, prescribe;

    "small enterprise" means a business entity with such annual turnover and staff complement as the Minister may, by Order published in the Gazette, prescribe; and

    "SMME" means small, micro or medium enterprise.

PART II
Local Enterprise Authority (ss 3-5)

3.    Establishment of Local Enterprise Authority

    There is hereby established an authority to be known as the Local Enterprise Authority (hereinafter referred to as "the Authority"), which shall be a body corporate with a common seal, capable of suing and being sued and, subject to the provisions of this Act, of performing such acts as bodies corporate may, by law, perform.

4.    Functions of Authority

    The functions of the Authority shall be to—

    (a)    provide assistance to SMMEs in the preparation of business plans, feasibility studies and market surveys;

    (b)    improve the business skills and competence of SMME entrepreneurs through the provision of training and advisory services in entrepreneurship development, technology, marketing and through appropriate mentoring services;

    (c)    create growth opportunities for SMMEs through securing greater access to Government procurement contracts for goods and services, in consultation with Government Ministries, local authorities and parastatal organisations;

    (d)    identify SMME firms with export potential and assist them to enhance their productivity and competitiveness for export markets;

    (e)    promote business linkages between SMMEs and big industries, including the purchasing of locally produced goods and services by larger firms;

    (f)    facilitate access to information on support services and sourcing of raw materials by SMMEs through publicity, outreach and information technology;