Better support is needed to enable SMEs to continue playing a significant role in SA’s economy. Picture: iStock
However, it is believed that more still needs to be done to enable SMEs to play a bigger role, as they do have the potential. “The COVID pandemic years made one thing very clear: SA’s SMEs don’t have a lot of support,” says Gosling.He says SMEs contribute 40% to the country’s GDP and employ at least 60% of the private sector workforce. It has been projected in the National Development Plan that by 2030 SME will provide 90% of new jobs.
He emphasises that small businesses are usually the ones that bring innovations that improve the quality of life and boost communities. “SMEs and entrepreneurs are key drivers of the green and digital transitions and are regularly delivering on