The Nelson Mandela Bay Business Chamber wants support for the micro, small and medium enterprise (MSME) sector, prioritized by government.
This is ahead of the Mid-Term Budget Policy Statement, on Wednesday, 12 November, by Enoch Godongwana, Finance Minister.
Denise van Huyssteen, Chief Executive Officer of the Nelson Mandela Bay Business Chamber, said SMMEs can catalyse growth, create jobs and boost confidence.
“This is particularly relevant to small businesses operating in the metro and the Eastern Cape, which are also dealing with the knock-on economic impact of loss of business due to the contraction of volumes and restructuring activities we have seen in the manufacturing sector. These pressures have arisen due to a combination of factors, among which includes the unreliability of electricity, water and sanitation infrastructure; political and municipal instability; rapidly declining safety and security; logistics inefficiencies; cheap imports entering the market and the uncertainty created by the US tariffs issue and geo-political shifts.”
van Huyssteen said despite accounting for around 90% of formal business entities, contributing more than half of the country’s GDP, and employing over 60% of the workforce, small and medium businesses remain constrained by excessive regulatory red tape, limited access to finance and markets, and inadequate business support systems.
Picture: ECRDA