The Chief Executive Officer for John‘s St. Paul Rum Product of Liberia has stressed the significance for Liberian businesses to transform from street vending to entrepreneurship, if they should take over the country’s economy.
CEO John T. Richardson said, transformation of Liberian businesses will go a long way to ensuring Liberians take ownership of the economic status in the nation. Mr. Richardson made the urge Wednesday, 21 October when hisrum products were exhibited at Renault’s Showroom on Capitol Bye-pass in Monrovia.
He noted that Liberian businesses can be transformed when government empowers Liberian entrepreneurs to be competitive with their foreign counterparts in the business community here.
He observed more Liberians have been involvedin street vending over the years which has not made any major transformation in advancing Liberian-owned businesses. He stressed that empoweringlocal businesses will create more Liberian entrepreneurs and boost investment across the country.
According to him, while it is true central government needs taxes to carryout its functions, small Liberian businesses should enjoy flexibility in tax payment rather than shutting them down.
He pointed out that closing Liberian small businesses due to delay in payment of taxes will not help to strengthen entrepreneurship among Liberians, who are striving in the business community.
Mr. Richardson further urged government to do everything possible to ensure Liberian businesses advance to another level instead of Mere Street vending, noting that the private sector is the engine for economic growth in any nation and Liberia is no exception.
He emphasized that the private sector, through entrepreneurship has potential to create huge jobs and boost effective tax generation in Liberia, but local businesses need to be empowered initially.Editing by Jonathan Browne