South Africans often ask what the Department of Small Business Development is doing to stimulate the creation, survival and growth of small businesses, which are expected to create 90% of new jobs so desperately needed by our 9-million unemployed citizens. The answer is, very little.
From its own reporting, it is clear the department is practically invisible to 97% of businesses in SA. It has failed to create a conducive business environment for SMMEs.
Argentina recently approved an entrepreneurs law providing for the registration of a "simplified shares company" in 24 hours, tax incentives for investment in early-stage loans, zero-interest loans for promising start-ups, funding for 13 business accelerators and the formation of a National Trust Fund for Entrepreneurial Capital. It signals what can be achieved by a government that recognises the need for a joined-up approach to policy making, which our government does not understand.
Toby Chance MPCape Town