Small business in Lesotho is an integral part of the country's economy, providing employment and income opportunities for a large segment of the population. It is estimated that small businesses account for more than 70 percent of total employment in Lesotho. Small businesses are typically characterized by having fewer than 50 employees, limited resources, and limited access to capital. They often operate in the informal sector and provide goods and services in local markets.
Small businesses in Lesotho are diverse and range from small-scale agricultural production to retail and services. Agriculture is the main economic activity in Lesotho, and small-scale farmers are major contributors to the country's GDP. Other small businesses include food and beverage production, construction, and transportation services. The majority of small businesses in Lesotho are owned by local entrepreneurs, while some are owned by foreign investors.
Small businesses in Lesotho face several challenges, such as limited access to finance and a lack of business skills and knowledge. They also face a lack of infrastructure, including roads, electricity, and telecommunications. Despite these challenges, small businesses in Lesotho are key to the country's economic development and growth. In conclusion, small business in Lesotho play an important role in creating jobs, income, and economic growth for the country.
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