'Think small first' can be state's SME motto
Giving a key job-creating sector a fair chance in this tough economic environment should be a priority, not an afterthought in policymaking and execution.
Nearly 20 years ago, the UK and the EU began considering a new approach to regular revisions of company laws. By adopting a "think small first" approach, policymakers were encouraged to evaluate whether legislation, statutory instruments, directives and costs unfairly burdened small and medium-size enterprises - key drivers of innovation, growth, and job creation. The review determined that 13200(!) directives and regulations were relevant to business. Yet only 83 mentioned SMEs . Further, only half of those suggested that SMEs be considered for special treatment, though none suggested how to do this . Similarly, in South Africa, various policy documents, white papers and shared growth initiatives all pay tribute to the importance of SMEs. But few, if any, give recommendations for special treatment, simplified reporting requirements, measures for guidance, or other forms of relief, let alone innovative ideas to increase SME participation apart from mandating, "where feasible", procu...
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