JOHANNESBURG – When Finance Minister Tito Mboweni gives his Budget Speech for the 2019/20 tax year, I hope to hear examples of how the government will work towards boosting South Africa’s ranking in The World Bank’s annual Doing Business Report.
Given that India climbed 23 positions in this year’s ranking and that South Africa ranked 32nd just a decade ago, this goal is highly achievable.
Making it easier to do business will ignite the growth of our Small & Medium Businesses and nurture the entrepreneurial flame of South African business builders. As the President and government recognise, Small & Medium Businesses have a vital role to play in job and wealth creation.
Against the backdrop of a tight economy, the government should be looking at ways to reduce red tape and to enable them to focus on growth rather than compliance.
Here are a few of the issues keeping Small & Medium Business owners awake at night, and some ways government could address their pain points: