cover image: Glass Ceiling  - Challenges Confronting South Africa’s SMME Community

Glass Ceiling - Challenges Confronting South Africa’s SMME Community

27 Nov 2023

The Role of SMMEs in the Developing World and South Africa Across the world, Small, Micro, and Medium Enterprises (SMMEs) are the unsung heroes who drive economic growth and sustain millions of livelihoods, as they account for 90% of businesses, 60 to 70% of employment, and 50% of GDP.2 They are at the forefront of economic transformation in the developing world, creating jobs, reducing poverty, a. [...] In 1995 the Parliament of South Africa adopted the White Paper on the National Strategy for the Development and Promotion of Small Business in South Africa. [...] However, a review of the ISPESE, published in 2018, found that, among other things, the contribution of small enterprises to investment and economic growth in South Africa remained stagnant for the period of 2004 to 2015. [...] The 2022 World Bank Container Port Performance Index, which measures the operational performance of 348 global container ports, ranked Durban 341st.30 The inefficiencies at the port range from the availability and reliability of the equipment to the port infrastructure itself. [...] Despite meeting a local need, providing an opportunity for members of the community to earn money, and, according to the business manager for one such delivery business, “keeping a lot of its young off the streets and away from dangerous activities”, they are saddled with challenges that threaten their vision of providing quality and efficient services to the community.

Authors

Richard Morrow

Related Organizations

Pages
20
Published in
South Africa