There were suggestions that the Code be based on the following principles:
x Self-regulation i.e. voluntary to adopt rather than enforced
x Incorporates the particular needs of SMEs
x Flexible so that it can be adapted to the heterogeneous sectors and sizes of SMEs
x Not complicated and easy understand for business owners
x Should be incentives based such as providing tax rebates. This may even encourage informal enterprises to
adopt the CG system if tax incentives are provided by Government.