Section VII. Creating Enabling Conditions for the Development of the Private Sector
Throughout the book we have discussed the role of the private sector in alleviating poverty and providing dignity and choice to individuals at the BOP. It is useful to realize that all developing countries have a private sector. However, a significant portion of the private sector—the individual entrepreneurs and small enterprises—operates outside the law. The individual, self-employed vegetable seller in a shanty town is an entrepreneur, but he is outside the law. He operates in what has been called the “informal sector” or the “extralegal sector.” He is not part of the formal private sector because the cost to him of becoming a part of the formal sector is ...
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