Finance Minister Malusi Gigaba 
Cape Town - The  organisation for Economic Co-operation and Development (OECD) on Monday released its Economic Survey of South Africa, which identified priority areas for future action.

The survey suggests that South Africa should consider the following structural policy reforms for it to meet its inclusive growth agenda: that the country opens up key sectors including telecommunications, energy, transport and services to more competition.

It further encourages the country to have a wider development of apprenticeship and internship programs and streamline the labour dispute system to increase flexibility and lower barriers to job creation. 

Finance Minister Malusi Gigaba said on Monday that steps have been taken to ease starting a business and the Department of Small Business Development is currently addressing the red tape associated with starting a small business through simplification of procedures

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“We agree with the observations made in the 2017 Economic Survey that, among others, boosting entrepreneurship and growing small businesses will contribute to creating jobs. The government is in the process of finalising a complementary government fund aimed at financing Small, Medium and Micro Enterprises (SMMEs) in the start-up phase, ” he said.

“We further agree with the observation that the quality of the education system and lack of work experience contributes to gaps in entrepreneurial skills and, in that regard, government policies will provide more support for entrepreneurs and small businesses,” Gigaba said.

The OECD survey also found that the quality of South Africa's education system and lack of work experience has contributed to gaps in entrepreneurial skills and suggested there was scope to broaden the sources of finance and ensure that government policies provide both financial and non-financial support for small businesses.

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