The Department of Small Business Administration (DSBA) was established by the Government of Liberia through an Act of the National Legislature in December 2014. The Department replaces the erstwhile Micro, Small & Medium Enterprise (MSME) Division which was implementing the first-ever national policy on MSME development in Liberia. The goal of the MSME Policy is to reduce poverty by increasing economic growth and decreasing income inequality so that all share in a growing economy. The rationale for the policy is to strengthen small businesses in Liberia, create more private sector employment opportunities, address poverty challenges and develop a robust middle class. The Division began executing programs and activities to support the growth of MSMEs since March 2012.
The DSBA is responsible to promote and foster the interests of MSMEs by ensuring that Liberian-owned MSMEs are awarded 25% of all government’s procurement contracts as required by statute, with at least 5% allocated to Women-owned MSMEs. The Department is to ensure that MSMEs have access to market and finance on favorable terms as well as build their capacity. In addition, the DSBA is also responsible to perform all responsibilities previously ascribed to the MSME Division.
Key Duties & Responsibilities
The Department of Small Business Administration is chiefly responsible for the performance of the following:
• Ensure at least 25% of all public procurement contracts be allocated and provided to Liberian-owned MSMEs, with at least 5% allocated to women-owned MSMEs;
• Promotion, development, regulation, control, operation and facilitation of loans of MSMEs, with particular focus and emphasis on Liberian-owned MSMEs
• Build capacity of Liberian-owned MSMEs
• Monitor and evaluate the development and performance of Liberian-owned MSMEs, which shall include a written assessment of such development and performance reports
• Coordinate programs for small business development and entrepreneurship
• Ensure that Liberian-owned MSMEs have adequate access to resources and markets
• Prepare statistics relating to Liberian small businesses
The Act Creating the Bureau of Small Business Administration: http://www.moci.gov.lr/doc/jjj.pdf