Manufacturing value has been declining since the 1980s and the level of production, is lower than 2005. It is therefore critical to support the SMME sector and reduce our reliance on cheap imports. The Government must invest more in skills development programs and manufacturing technology. This will make South African products more cost effective and improve quality, helping our economy to be more competative globally.
presidential process and the ethos of all this grandstanding ought to be questioned given SA’s unemployment rate. The sheer scale of unemployment, and its decade-long rising trend, is unique — and clearly self-inflicted through the wrong policy choices. It is the SME, SMME, sector that was not given any direct attention at the investment conference beyond lip-service.
As I have already argued, SA’s problem is primarily unemployment, which has poverty and inequality consequences. Resolving unemployment will not be achieved by our existing economic capacity or pledges from big business. The other important potential source of capital to fund small businesses lies in the household sector. Start-ups and SMEs are primarily backed by household resources — using the equity in homes, pension funds, and household savings.
Smoke and mirrors.
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