Challenges, Opportunities, Risks and Next Steps
The South African government has prioritised small business development with the objective of creating 11 million jobs by 2030 to reduce the country’s chronic and high unemployment rate, and looking to SMEs to create these jobs and stimulate economic growth. This objective can only be achieved through the establishment of a supportive and enabling environment for the growth of small businesses.
SME SA in collaboration with In On Africa (IOA) has endeavored to assess the current environment in which SMEs operate through executing nationwide research on the sector. The aim of the research was to shed light on the challenges, opportunities and risks that need to be considered in the development of the SME sector to ensure the much needed growth and new employment opportunities in the country.