small business development minister Stella Ndabeni-Abrahams proudly told the public:“We have a responsibility to enforce regulatory compliance in the SMME sector and close businesses that are trading illegally.”
Instead of developing small business, enforcement of over-regulation destroys small businesses and jobs Instead of developing small business, enforcement of over-regulation destroys small businesses and jobs. The task before the minister should be one of actually creating jobs. One prime reason unemployment levels are so high is because the regulatory state stands in the way of job creation.of the role small business in terms of economic development and job creation:
It is so much easier for a politician to deal with a large corporation, and for the career bureaucrat dealing with big business is often a lucrative option as well. They can finish their “public” career and find a cushy, politically connected job with one of the corporations that helped them regulate markets. It was good for big business and it was good for politicians.