Cape Town - The SA Institute of Chartered Accountants (Saica) has commissioned a survey for South African Small and Medium business owners (SMEs).
The survey aims to collect and collate SME owners’ attitudes, concerns and needs.
The results will be used to lobby government decision-making and policy, to better facilitate business development in the sector, according to Bridgitte Kriel project director of small practices at the SA Institute of Chartered Accounts (Saica).
“We urge all SME owners to participate in the survey as this is an opportunity to voice your concerns, state your major challenges and suggest ways in which the new ministry can effectively serve you and stimulate the economy”, said Kriel.
New ministry
With the new Ministry of Small Business Development now in place under Lindiwe Zulu, all stakeholders have the opportunity to lobby for changes in law or policy to enable growth in the SME sector, according to Theo van Wyk, chair of specialist SME lenders Business Partners.
To achieve the objectives of the National Development Plan (NDP) in regard to job creation and expanded black ownership a healthy, growing SME sector is vital, he said.
Van Wyk believes that small business is the only sector that can reduce unemployment numbers and increase the tax base.
He sees the new ministry as a sign that government is serious about the meaningful reform needed to stimulate SME growth.
"To be effective, however, the new ministry will require co-operation and input from the SME sector itself," said Van Wyk.
The three biggest challenges most often cited by SMEs are access to mentorship and advice, acquiring financing without significant collateral and negotiating rigid labour practises originally designed for large-scale enterprises.
- Fin24
* Share your experience of setting up your business and get published or simply ask a question. Our business panel can put you on the right path.
The survey aims to collect and collate SME owners’ attitudes, concerns and needs.
The results will be used to lobby government decision-making and policy, to better facilitate business development in the sector, according to Bridgitte Kriel project director of small practices at the SA Institute of Chartered Accounts (Saica).
“We urge all SME owners to participate in the survey as this is an opportunity to voice your concerns, state your major challenges and suggest ways in which the new ministry can effectively serve you and stimulate the economy”, said Kriel.
New ministry
With the new Ministry of Small Business Development now in place under Lindiwe Zulu, all stakeholders have the opportunity to lobby for changes in law or policy to enable growth in the SME sector, according to Theo van Wyk, chair of specialist SME lenders Business Partners.
To achieve the objectives of the National Development Plan (NDP) in regard to job creation and expanded black ownership a healthy, growing SME sector is vital, he said.
Van Wyk believes that small business is the only sector that can reduce unemployment numbers and increase the tax base.
He sees the new ministry as a sign that government is serious about the meaningful reform needed to stimulate SME growth.
"To be effective, however, the new ministry will require co-operation and input from the SME sector itself," said Van Wyk.
The three biggest challenges most often cited by SMEs are access to mentorship and advice, acquiring financing without significant collateral and negotiating rigid labour practises originally designed for large-scale enterprises.
- Fin24
* Share your experience of setting up your business and get published or simply ask a question. Our business panel can put you on the right path.