WILLIAM GUMEDE: Put job-creating SMEs at the heart of strategy for economic turnaround
SA’s new unity government, which has brought new capacity, ideas and energy to the heart of the executive, must pursue growth led by small and medium-sized enterprises to at least halve the country’s depression-era levels of unemployment, mass poverty and inequality.
For the past 30 years, the strategy wrongly prioritised growth led by a big state and big business, counting on the state and the business establishment to create growth and jobs. Clearly, this was flawed. SMEs are estimated to provide close to 90% of all employment globally. This means both government and established business in SA must focus on growing SMEs. ..
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