Blog #8: Small business is big business in SA
Small businesses are key to unlocking economic opportunities and achieving inclusive growth, Small Business Development Minister Lindiwe Zulu said last week at the Global Entrepreneurship Congress in Milan, Italy. Zulu said the government's policy interventions aimed to ensure that small enterprises grew into thriving businesses: "They cannot remain small forever”. Accepting the award on behalf of Johannesburg, Zulu said: "GEC 2017 will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders.” I thought this article was important because unlike America, South Africa is putting much of its faith into small business. In America our current economic standings don't necessarily allow us to be as dedicated to our small and privately owned businesses, due to the possibility of failure. The failure would be placed solely on that of the business owner and in turn could be a huge financial burden. In South Africa, it seems as though the government is standing behind small businesses, willing to help them thrive. Again that is not necessarily the case in the United States. In a recently read article, I have seen that many of the businesses in the U.S have decided to take on a different approach in the way they treat their workers, however, they are still not given that same governmental support that South Africa is currently indulging in. If given a personal opinion on what is going on in South Africa, I would have to agree with Minister Zulu that these small businesses wont remain small always and they will grow if given the opportunity. I am hopeful that as our economy continues to stabilize here in America, so might the small business market, as it did once before.
Citation: "SouthAfrica.info." Small Business Is Big Business of South Africa. N.p., n.d. Web. 10 Apr. 2015. <http://www.southafrica.info/business/trends/newbusiness/small-business-development-303015.htm#.VSh43lxH0b0>.