MAKE MORE JOBS FOR MORE PEOPLE HAPPEN

Published Aug 31, 2015

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Small business support equals big potential for South Africa

South Africa’s small businesses have the potential to make a huge impact on the country, its people and its sustainable economic growth. However, to achieve that potential, small businesses need big support, not just from government, but also from consumers across the nation.

That’s according to Mike Anderson, CEO and Founder of the National Small Business Chamber (NSBC), who emphasises that small businesses play a crucial role in job creation, poverty alleviation, service delivery and wealth creation in South Africa.

Speaking ahead of the annual Small Business Friday™ initiative, which takes place on 4 September this year, Mike stresses that, in South Africa, small business really is big business. Nearly two thirds of our workforce is employed by small businesses, which ‘contribute a significant portion of our country’s gross domestic product, making them vital to the continued economic growth and development of the nation’.

According to Mike, these were a few of many vital reasons for founding the NSBC, which provides vital support and networking to South Africa’s small businesses, and also drives the Small Business Friday™ and Shop Small Business movements with the support of title sponsor, Nedbank.

Established in 2012, Small Business Friday™ is a national movement aimed at encouraging South Africans to support their local small businesses. Importantly, the initiative is not intended to promote small-business support just on the first Friday of spring. Rather, the aim is to encourage support throughout the year, particularly on Fridays, which culminates on the official Small Business Friday, which is on 4 September this year.

The movement is in line with the focus of South Africa’s national government on promoting entrepreneurship and small-business development as key drivers of its National Development Plan. Small Business Development Minister Lindiwe Zulu reaffirmed this commitment earlier this year and emphasised that South Africa’s success in addressing its high rates of unemployment and poverty depends on its ability to implement bold and far-sighted interventions. ‘Small businesses’, she stressed, ‘are key to unlocking economic opportunities and achieving inclusive growth for the country.’

Annette Francke, Managing Executive: Retail Relationship Banking at Nedbank, agrees and stresses that with the full support of all South African consumers, Small Business Friday™ is one such intervention that has the ability to fuel the much needed growth in small-business effectiveness and impact – both economically and socially.

‘The advantages lie not only in the impact such support has on the economy’, Annette explains, ‘but also the fact that locally owned businesses help shape strong communities by keeping vital spend within small towns and cities – leading to vibrant local economies that benefit everyone in the country.’

‘Small businesses in your community exist because of the passion, commitment and countless hours of hard work of the owners and their staff.’ Mike concludes, ‘When you choose to support a small business, you not only acknowledge this commitment, you also add another brick to the foundation on which South Africa’s economic future will be built. Not to mention probably enjoying some great personal service in the process!’

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