How To Improve Informal Sector Economics (1/3)
Channel: World Bank Group Jobs
Date: 2012-10-08

Louise Fox, Lead Economist for the World Bank's Africa Region, says the informal sector economy can be strengthened through a few policy steps. 

In many developing countries, less than 15 percent of the labor force is working in non-farm or public sector salary jobs. With millions of young workers entering the workers without enough formal jobs, many will likely follow their parents' footsteps to become informal workers in "mom and pop" businesses.

Several steps can improve this economic sector. To start, governments have to give informal workers access to public location to run their business. In addition lenders can improve access to microfinance, business and life skills training can be provided to help entrepreneurs become more efficient.