Bandwidth Barn News & Discussion Board

Just another weblog

Give small business more space to grow

leave a comment »

A group of top panellists attending a function organised by the Mail & Guardian last week agreed that government should do more to support SMME growth. Stimulating small business should be a key focus for the economy to absorb the unemployed, Finance Minister Trevor Manuel said. Economist Stephen Gelb said that black empowerment had created an environment that encouraged people to express their innovation in the corporate sector instead of in the creation of small business. Absa chief executive Steve Booysen said that not enough attention was given to small business although they were the biggest employers.

  • In OECD countries SMMEs account for more than 95% of firms, 60%-70% of employment and 55% of GDP
  • In developing countries SMMEs represent more than 90% of firms
  • It is estimated that in African countries SMMEs generate between 32% and 60% of GDP.
  • A World Bank estimate shows that SMMEs represent more than half of all GDP and account for nearly two-thirds of employment.
  • In all of Africa and south Asia, less than $1 billion in actively managed investment funds specifically target the SMME sector.

 Source: Business Report, Thursday, August 28 2008
Source: Grofin


Written by bandwidthbarn

September 1, 2008 at 8:35 am

Posted in Small Business Development

Tagged with

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: