Sandton: Small Business Development Minister Stella Ndabeni has affirmed the government's commitment to fostering a supportive environment for small businesses in South Africa. "Over the course of this seventh administration, we will, as the Department of Small Business Development (DSBD) and the Small Enterprise Development Finance Agency (SEDFA), provide financial and non-financial support to one million Micro, Small, and Medium-sized Enterprises (MSMEs)," Ndabeni stated at the 14th Annual Proudly SA Buy Local Summit and Expo in Johannesburg.
According to South African Government News Agency, the government plans to implement the Red Tape Reduction Framework and support municipalities in adopting the E-Registration System. These initiatives aim to alleviate municipal red tape and streamline business registration processes to create a more accessible environment for small businesses.
The minister emphasized improving access to business infrastructure and scaling up financial access for MSMEs by collaborating with Development finance institutions (DFIs), banks, and non-bank financial institutions. The government also seeks to integrate financial services with market readiness and post-investment support to ensure business sustainability.
Ndabeni highlighted the significant role of MSMEs in tackling unemployment and inequality. She noted that MSMEs could employ up to 60% of the workforce in the country, providing crucial opportunities for youth, women entrepreneurs, and local economies. She stressed that community support is essential for the success of these enterprises.
Purchasing locally produced products strengthens small businesses by enabling them to pay wages, expand, and reinvest in the community. "That purchase might help someone hire a new employee, train an apprentice or open another store," Ndabeni remarked, outlining plans to simplify business operations through the new Business Licensing Bill.
Ndabeni also addressed the challenges posed by global online platforms and illicit goods, urging support for e-commerce platforms promoting local products. She revealed ongoing bilateral trade negotiations to counteract these threats and efforts to combat illicit goods entering the country.