The Ministry of Small and Medium Enterprises and Cooperative Development is finalising Micro Small and Medium Enterprises (MSMEs) formalisation strategy. As we rally in supporting this important thrust, I found it necessary to look at the experience of Costa Rica. By and large, the economic structure and geographical factors of Costa Rica are different from Zimbabwe. However, the circumstances of the MSMEs in Costa Rica appeals to Zimbabwe situation. It is therefore necessary to compare lessons. According to data from the Ministry of Economy, Industry and Trade in the year 2012, micro, small and medium-sized enterprises (MSMEs) accounted for 95 percent of businesses in Costa Rica, 46 percent of total employment, and 30 percent of Gross Domestic Product. That same year, 70 percent of Costa Rican firms were classified as micro-enterprises.
By Dr Mugano is an Economic Advisor, Author and Expert in Trade and Competitiveness. He is a Research Associate of Nelson Mandela Metropolitan University.
