LUNCEDO MTWENTWE: Unshackle SMEs from grinding red tape
South Africa’s small business sector doesn’t just need policy change; it needs bold, immediate action
South Africa’s regulatory environment is becoming an increasingly heavy burden for small and medium-sized enterprises (SMEs), the very businesses we depend on to drive economic growth and create jobs. Often called the lifeblood of the economy, SMEs account for two-thirds of business employment in advanced economies and nearly four-fifths in emerging markets.
It’s worth looking at how other countries are getting it right. Singapore, for example, was ranked the world’s most competitive economy in the 2024 World Competitiveness Ranking by the International Institute for Management Development (IMD). South Africa, by contrast, placed 60th out of 67 countries, inching up just one place from the previous year...
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