Worried by the slow growth of Small and Medium Enterprises (SMEs) former Governor of Abia state, Senator Orji Uzor Kalu, has called for special legislation that would assist small businesses, particularly the hospitality industry, to have access to loans.
Kalum who made the call, weekend in Abuja, during the unveiling of Tastia Restaurant and Bakery in Wuse 2, noted that special purpose legislation would protect businesses of young entrepreneurs.
The Senate Chief Whip, who also made case for the establishment of Bank of Hospitality, said it would give more access to both old and upcoming hospitality industry players to get better loan facilities.
According to him, people who are taking unemployed youths out of the streets, and promoting entrepreneurial activities in the country need to be encouraged and supported.
“We need to come up with new legislation to encourage entrepreneurs and protect their businesses. Government should also consider setting up a hospitality bank to provide more access for those in the hospitality industry to get loan,” he stated.
Similarly, the Proprietor of Tastia Restaurant and Bakery, Kester Agwu, who disclosed that he has employed 1,000 Nigerians in the hospitality business, assured that he would continue to open more branches across the country to support government’s efforts at reducing unemployment.
He tasked the incoming government to initiate deliberate policies to grow entrepreneurial ventures and create more jobs.
