Small businesses key to inclusive economic growth in South Africa
Small Business Friday™ is aimed at galvanising everyone in South Africa, including corporates and the private sector, to show their support for small businesses through the Small Business Friday movement. The movement calls on the nation to get behind the job creators, nations builders, entrepreneurs, and the hardworking men and women who make up the backbone of the economy. It forms part of Nedbank’s continued focus on partnering with SMEs for growth for a greater South Africa.
The BIG value of small businesses in South Africa
- One out of every five units exported from South Africa is made in the small- and medium-business sector*.
- Nearly two thirds of all workers in South Africa are employed by small businesses.
- Small businesses contribute over 35% of South Africa’s gross domestic product (GDP)
- If one million SMEs could each employ just one additional person – it would mean one million new jobs in South Africa.
- Most big businesses started out as small businesses!
* Source: Small Enterprise Development Agency (SEDA)
Annette Francke, Managing Executive: Retail Relationship Banking at Nedbank, points out that by simply ‘making a small change to where we, as South African consumers, choose to spend our money, we can have a huge impact on small businesses, our communities and ultimately our economy, which means that the power to create more jobs for more South Africans really lies with each and every person who is a consumer in this country’.
It is primarily for this reason that Small Business Friday™ has been designed to put small businesses across South Africa firmly in the spotlight and encourage everyone in the country to visit and buy from small businesses all year round – but especially on Fridays, and particularly on 4 September.
FIVE TOP REASONS TO SUPPORT A SMALL BUSINESS
1. You’ll be making a positive impact on the economy – both locally and nationally.
2. You’ll be helping to uplift and shape a local community.
3. You’ll enjoy great service from someone that really appreciates your business.
4. You’re assured of top quality, often unique, products and services.
5. Your purchase has a positive impact on the business owner, the employees, their families, the community, and South Africa as a whole.
Make supporting small business a habit
Small Business Friday™ is about far more than supporting a small business on the first Friday of spring. It’s a national movement to encourage and inspire South Africans to use their buying power to make a big and lasting impact by supporting small businesses all year round, with a particular focus on every Friday – and especially the first Friday of spring each year.
When you shop at small businesses, you’re not spending, you’re investing. Spread the word, and show your support of South Africa’s small businesses on 4 September 2015.
Small Business Friday is powered by Nedbank in association with the National Small Business Chamber (NSBC).