Pretoria: Efficiency as well as well as investment in skills development is key to ensuring the growth of Small Medium Micro Enterprises (SMMEs), says Gauteng MEC for Economic Development and Tourism, Nkosiphendule Kolisile.
“Efficiency is the key aspect in ensuring that small businesses are able to do well and gain a competitive edge nationally and internationally,” said Kolisile, who was speaking at a ministerial roundtable panel discussion at the 37th annual International Small Business Congress (ISBC) in Sandton, Johannesburg, on Monday.
More should be done to help SMMEs become efficient to enable them to effectively play their role in creating sustainable employment and to achieve inclusive economic growth.
“We need to invest more in skills development in order to improve the capacity of human resources within the SMMEs and cooperatives. We need to improve their capabilities and expertise as research has proved that with the necessary support, SMMEs become the backbone of employment creation in a country,” added Kolisile.
To address Gauteng’s worrying 25.4% unemployment rate, the province has put in place measures to assist SMMEs overcome challenges and barriers by establishing the Gauteng Economic Propeller, among other things.
The Propeller is tasked with providing financial as well as non-financial support to SMMEs and cooperatives. It also provides access to information, which has been identified as a serious impediment to SMMEs’ development and growth.
The conference, which kicked off on Saturday, brings together small business policymakers, providing a platform for policymakers to share ideas and best practices when it comes to boosting support to both survivalist micro enterprises and nurturing more high-growth firms.
The conference, which was being held on the African continent for the first time, concludes later today.