Benefits of Developing the Informal Sector

 

While one of the objectives of the Rivers Entrepreneurs & Investors Forum is developing both the growing formal and staggering informal sectors of the economy in providing equal and transparent accessibility to quality information for Entrepreneurs and Investors in these sectors to use to grow their business and investment interests. The Rivers Entrepreneurs and Investors Forum would dedicate more time to develop the staggering informal sector to a level that could favorably compete with the formal sector for the mutual benefits of both sectors without a sector rising above the other.

 

The following are some of the benefits inherent in developing the informal Sector:

 

* Panacea to Unemployment

* Reduction of Crime

* Generation of more Revenue through Taxes

* Raise the Standard of Living

* Self Reliance and Determination

* Safety of Lives and Properties

 

Let’s join hands to grow the informal sector of our Economy. Numerous studies have shown that the informal sector (SMEs) single handedly holds the key to rapid socio-economic development.