SMALL BUSINESS INDABA – 20 JUNE 2018
Global data shows that small, medium and micro-enterprises (SMMEs) play a critical role in boosting job creation, economic competitiveness in the global market and economic development. The South African government has identified the SMME sector as a key growth sector in the country’s manufacturing industries and a key sector in the fight against youth unemployment.
South Africa has developed an established, diversified manufacturing base that has shown its resilience and potential to compete in the global economy. The manufacturing sector presents an opportunity to significantly accelerate the country’s growth and development by focusing on small manufacturing operations.
More than a third of young South Africans in the labour force are unemployed. In every province, the unemployment rate among youth is more than double that of people over 35 years of age. If South Africa can effectively address youth unemployment by focusing on small to medium manufacturing operations, it will lift millions of South Africans out of poverty and place the economy on a trajectory of sustainable, inclusive growth.
The annual Small Business Indaba takes place alongside the national Manufacturing Indaba.