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SMALL BUSINESS DEVELOPMENT: UNLOCKING THE UNDERGROUND ECONOMY POTENTIAL
INTRODUCTION
Most of the country’s attention has been placed on the modern capital-intensive manufacturing, and public and financial services whereas agriculture and small informal activities have largely been ignored.
However, much of the Pakistani population makes a living by working outside the formal economy and its official tax and regulatory system (known as underground economy in the west). ... Although this microenterprises sector is an important source of jobs, income, and even housing, its participants lose their full rights as citizens by operating outside the legal economy.
Recently, government of PM Nawaz Sharif has announced a robust small and medium enterprise development scheme. ... Microenterprises are very small businesses probably starting with $200 or so. ... If Pakistan is to advance along the development path, it must bring microenterprises sector participants into the legal economy, to share in both the benefits and the costs of formal economic activity. Therefore, the challenge is to end the dual structure of development in the country.
Approximate Word count = 837
Approximate Pages = 3.3
(250 words per page double spaced)
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