The creation of a Small Business Development Ministry under Lindiwe Zulu has received a universally positive response. To achieve the objectives of the National Development Plan [NDP] for job creation and expanded black ownership, a healthy, growing SME sector is vital.
Theo van Wyk, chairman of the board of specialist SME lenders Business Partners Ltd, believes that small business is the only sector that can reduce unemployment numbers and increase the tax base. He sees the new ministry as a sign that government is serious about the meaningful reform needed to stimulate SME growth.
But to be effective new ministry needs the co-operation and input from the SME sector itself.
There are three challenges facing SME’s:
- Access to mentorship and advice
- Acquiring financing without significant collateral,
- Negotiating rigid labour practises that were originally designed for large-scale enterprises.
The SAICA survey
With the Ministry of Small Business Development now in place, all stakeholders have the opportunity to lobby for changes in law or policy which should mitigate these challenges and benefit growth in the sector.
The South African Institute of Chartered Accountants has commissioned a survey for South African Small and Medium business owners (SMEs). The survey aims to collect and collate SME owners’ attitudes, concerns and needs, and the results will be used to lobby government decision-making and policy, to better facilitate business development in the sector.
SAICA is deeply involved in developing the country alongside government and the intention of the survey is to aid SMEs’ development.
“We urge all SME owners to participate in the survey as this is an opportunity to voice your concerns, state your major challenges and suggest ways in which the new ministry can effectively serve you and stimulate the economy.”
The survey will take you about 15 minutes to complete and you can participate by going to the follow link: Survey