Government Moves to Empower Small Businesses with New SME Bill

The Government of Zimbabwe has approved key principles for a new Small and Medium Enterprises (SME) Bill, marking a significant step toward accelerating economic transformation and entrepreneurship development.

According to Cabinet, the proposed legislation will modernise the registration, regulation, and support systems for small and medium enterprises across the country. The Bill will introduce official accreditation frameworks for SMEs, business associations, and service providers, ensuring greater accountability and improved access to government and financial support programmes.

In addition, the Bill seeks to update the national definitions of Micro, Small, and Medium Enterprises to align with current economic realities and international standards. Officials say this will help capture the true scale of small business activity and promote inclusive growth across all sectors.

Government officials emphasised that the new SME Bill is designed to encourage the formalisation and competitiveness of small businesses — a move expected to spur job creation, industrial growth, and exports.

“This initiative underlines Zimbabwe’s commitment to empowering entrepreneurs and driving the nation towards its Vision 2030 objectives,” the Government said in a statement following the Cabinet meeting.

The proposed SME Bill will now move through further drafting and consultation stages before being tabled in Parliament for consideration.

By Witness A Phiri