Budget 2017
SMALL BUSINESS: Big plans for procurement
Increased emphasis by government and corporates on buying from small businesses should help grow the sector
24 February 2017 - 21:04
The priority in encouraging small businesses must be to create an enabling environment that ensures they are targeted by the procurement policies of government and the private sector alike, said finance minister Pravin Gordhan. New preferential procurement regulations, gazetted in January 2017, require large firms awarded tenders of R30m or more to set aside one-third of the value for small or black-owned enterprises, where feasible. The budget allocates R3.9bn over the medium term to support small, medium and micro enterprises and co-operatives.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.