By Victor Adeola Ime-Ojeikere
The commissioning of Capacity Lifestyle Fashion Home by the Executive Governor of Edo State, His Excellency Distinguished Senator Monday Okpebholo, is a significant milestone. It reflects his commitment to bridging the gap between the government and the people. By supporting small-scale businesses, the governor shows he is not elitist but deeply focused on promoting economic growth and and job creation across all sectors of society.
*Key Benefits of the Governor’s Action:*
1. Building Closer Connections with the People: By commissioning a fashion home, the governor demonstrates his appreciation for the contributions of small business owners and his commitment to supporting their success.
2. Inspiring Entrepreneurship: This move encourages others to explore entrepreneurship, promoting a culture of innovation and self-reliance.
3. Supporting Small-Scale Businesses: The boutique will serve as a catalyst for local economic growth by creating job opportunities for residents, ranging from direct employment within the business to ancillary roles in supply chains, logistics, and related services. This initiative not only empowers individuals with stable income but also strengthens the economy of Edo State.
This initiative underscores the need for the Edo State Government to continue the promotion of entrepreneurship and small businesses. By leveraging local resources, creating access to funding and support, encouraging partnerships, and enhancing digital infrastructure, the government can create a thriving entrepreneurial ecosystem within the state.
*Some potential next steps could include:*
1. Promoting Tourism and Local Products: Encouraging visitors to explore Edo State’s unique offerings, such as local crafts, agriculture, or cultural events.
2. Supporting Education and Training: Providing resources for entrepreneurs to develop essential skills, such as business management, marketing, and finance.
3. Tax Holiday: Introducing a tax holiday for a certain period yearly can be a game-changer for small-scale business owners, giving them the breathing space they need to grow and thrive. Here are some key benefits and examples of a tax holiday:
– Encourages Investment: Tax holidays can attract investors and encourage them to put their money into small-scale businesses ¹.
– Relief from Financial Burden: A tax holiday provides temporary relief from the financial burden of taxation, allowing businesses to allocate resources to other critical areas.
– Boosts Economic Growth: By reducing the tax burden, tax holidays can stimulate economic growth, create more jobs, and increase productivity.
By consistently supporting small-scale businesses and championing entrepreneurship, the governor can strengthen his bond with the people and lay a solid foundation for sustainable economic prosperity in Edo State. Such efforts demonstrate a deep understanding of the vital role small enterprises play in fostering job creation, reducing poverty, and driving innovation.
This proactive approach not only inspires trust and loyalty among the citizens but also positions Edo State as a hub for economic growth, attracting investments and fostering a culture of innovation that benefits the State and Nigeria at large.
Ultimately, sustained support for entrepreneurship ensures long-term progress and inclusive prosperity for all.