Big role of small business

2016-10-12 06:00


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THE success of small and medium enterprises begins with their attitude towards their work, their understanding of the environment wherein they are operating and understanding their product, including the service that they need to provide.

This is according to Lindiwe Zulu, minister of Small Business Development, during the annual Stakeholders Forum meeting in the Mittah Seperepere Convention Centre in Kimberley on Friday (07/10).

She was referring to the role that the Small Enterprise Development Agency (Seda) plays and the expectations from small and medium enterprises.

Zulu said the role of government, through Seda, is to create a conducive environment for small, medium and micro-sized enterprises (SMMEs) to be able to operate in.

Zulu urged SMMEs to continue their commitment towards their businesses, as they contribute greatly towards the Gross Domestic Product (GDP) of the economy.

She pledged the government’s support to ensure that the regulations and legislation responds to the needs of the small and medium enterprises, which are mostly black-owned.

“Seda assists SMMEs and co-operatives with non-financial support, like workshops, business plans and the economy that they operate under.

“The Small Enterprise Finance Agency (Sefa) then comes in later with financial support like loans and incentives,” she clarified.

According to Zulu, government partly depends on the success of SMMEs in order for them to contribute towards the GDP, including through paying taxes.

She said there was already improvement in their growth, as at least 18 000 SMMEs are reported to have registered to pay tax in 2016.

“That is a good thing. We are not yet there, but we want to see SMMEs, thus I really encourage other small businesses to learn from the success stories of others.”

Pointing out that products from SMMEs can contribute greatly towards the GDP of the country, Zulu cited that this was the reason why government has come up with agencies that can support them to have the potential towards paying taxes.

“SMMEs play a huge role towards the economy of the country, as they are much more innovative and come up with new ways of selling their products.

“We would like to find ourselves in the same space as developed countries who prides themselves that almost 60% to 90% of their GDP comes from small and medium enterprises.”

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