Ignite Economic Growth
Open a business in 48 hours, finance without pledging your land
SUM will let a Seychellois open a business within 48 hours of registering, channel SCR 50 million a year into low-interest startup loans that do not demand land as collateral, and steer public contracts toward local enterprise.
The problem
Too many good ideas die in the licensing queue. Too many Seychellois cannot start because the only finance on offer asks them to risk the family land. Public contracts flow to the largest and the foreign while local firms are left the scraps. An economy that rewards insiders will always feel rigged, because it is.
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What SUM will do
Business open in 48 hours
Replace the slow licensing regime with fast registration through the Revenue Commission and clear industry standard operating procedures. Responsible, quick, and open to all.
Finance without a land pledge
An additional levy on bank profits channelled through the Development Bank, SCR 50 million a year in loans at four percent for startups and small firms, with no requirement to pledge land as security.
Local business first
A mandated share of government contracts reserved for Seychellois small and medium enterprises, so public money builds the local economy.
Cash stays legal tender
A guarantee that cash remains accepted everywhere, so no one is shut out of the economy by a phone or a bank they do not have.
How it works, step by step
Replace licensing with fast registration
A business registers through the Revenue Commission and follows clear industry standard procedures, so it can open within 48 hours instead of waiting in a licensing queue that kills good ideas before they start.
Fund the loan pot from bank profit
An additional levy on bank profits feeds the Development Bank, which lends SCR 50 million a year at four percent to startups and small firms, and asks for a business plan and cash flow rather than the family land.
Reserve public work for local firms
A mandated share of government contracts is set aside for Seychellois small and medium enterprises, so the money citizens pay in tax builds businesses at home.
Keep cash as legal tender
Cash stays accepted everywhere, so nobody is locked out of the economy for want of a card, a phone or a bank account.
In real life
A Seychellois with a good idea can start in days, find finance without gambling the family land, and compete fairly for the contracts their taxes pay for. Growth that is owned at home.
He registers on a Monday and can trade by Wednesday, then borrows for tools at four percent without signing away the family plot he grew up on.
The reserved local share gives her a real chance at public work that used to flow straight to the largest or the foreign supplier.
The loan fund is financed by a five percent levy on bank profits, channelled through the Development Bank, so a share of the profit the financial sector makes here is recycled into the Seychellois firms that generate the deposits. Fast registration and the local-contract rule cost little to run and grow the tax base as more businesses open and survive.
On this article
Is taxing bank profits going to raise my bank fees?
The levy is on profit and directed into affordable local lending. The aim is to recycle a share of financial-sector profit back into the Seychellois enterprises that generate it.
Why remove land as collateral?
Because it locks out anyone whose family land is their only asset, which is most young Seychellois. Character, plan and cash-flow lending opens enterprise to the many.
Will taxing bank profit raise my bank fees?
The levy falls on profit and is directed into affordable local lending. The aim is to turn a slice of financial-sector profit back into the small businesses it depends on, not to add charges to ordinary accounts.
Why remove land as collateral?
Because for most young Seychellois the family land is the only asset they have, and demanding it locks them out. Lending on the strength of a plan and a cash flow opens enterprise to the many instead of the few.
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