SIPHO NKOSI: Cut red tape to prevent small business staying informal
Initiatives in Rwanda, Mexico and the UK show that making ease of business a priority yields rich rewards
30 August 2019 - 05:08
Both the finance minister and the new minister for small business development have laid down a few cards before the public in support of small businesses and economic growth. We’re glad to see they’re tossing some of their chips in to help eradicate red tape.
The burden of red tape is, of course, felt disproportionately by small and medium enterprises (SMEs), so much so that the International Labour Organisation says the problem “can encourage businesses to remain informal and small to avoid compliance costs, which of course limits our ability to create the jobs we need”. ..
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