SMMEs need "risk taking skills"

| 0 Comments

 

smmes.jpgThrough developing and encouraging small businesses across the country, the Minister of Small Business Development Lindiwe Zulu urged SMMEs to develop and adopt a skill of risk taking and allow innovation as these could have positive outcomes for their businesses, said the Minister during the opening of Global Entrepreneurship Week in Johannesburg in November 2015.


Zulu said her department will place more emphasis on the development of small businesses and cooperatives and facilitating access to finance and market support.


“Business failure is often attributed to the lack of entrepreneurial knowledge and skills such as innovation and risk taking and therefore should not be overlooked as essential ingredients to SMME success,” said Zulu.


Zulu also wants to remove regulatory constraints and tackle laws that inhibit the growth of entrepreneurs.


She said low levels of education and training, as well as poor business skills were contributing factors.


“To address the skills challenge, my department has embarked on a journey to develop entrepreneurs,” she said.


“Together with Technical Vocational Education and Training (TVET) Colleges, we are launching Centres of Entrepreneurship across all our provinces.”


In 2015, the department launched centres in False Bay College (Western Cape) and Gert Sibande College (Mpumalanga) focusing on the hospitality sector, while Centres of Entrepreneurship have been planned for the North West and KwaZulu-Natal.


To meet the National Development Plan target of creating 11 million jobs by 2030, South Africa needed scalable SMMEs, growing at a rate of 20% per annum, said Zulu.


“This means that small businesses will have to contribute roughly 800 000 jobs per year until 2030 according to our calculation,” she said. “In South Africa, SMEs contribute 55% to GDP and are estimated at more than two million in number.”


The Tech Start-Ups in South Africa survey showed that 17% of start-ups in SA had black founders.


This is a significant increase from a national survey undertaken in 2012 where just over 6% of start-up founders were black, said Zulu.


“It is encouraging to observe that the survey results reveal a marked change in the SA start-up landscape, with an increase in black entrepreneurs, more than that recorded by any other start-up survey to date,” she said. “Despite the upward trend in the number of SMMEs registered since 2000, there is growing consensus that South Africa’s business activity rate still lags behind its Brics peers.”


The opening ceremony was a precursor to preparations of the 2017 Global Entrepreneurship Congress (GEC), an event expected to attract international delegates from 157 countries.


South Africa will be the first African country ever to host the GEC, which Zulu said “will give the world a taste of our entrepreneurial spirit”.

Adapted from fin24.com
 

Leave a comment


 

 

Career opportunites

Planner

  • <500 000 Gauteng Operations, Planning & Inventory Supply Chain
Are you looking for new career opportunities as

Procurement Specialist

  • >500 000 Gauteng Procurement Officer / Specialist Strategic Sourcing Supplier / Business Development
As a specialist Supply Chain recruiter, I am

Logistics Controller

  • <500 000 Gauteng Logistics & Warehousing Procurement Officer / Specialist
Seeking dynamic up and coming candidates looking for

Supply Chain Manager

  • >500 000 Permanent Procurement Management Supply Chain Western Cape
As a specialist Supply Chain recruiter, I am

Business Process Specialist

  • <500 000 Gauteng Procurement Consultant Procurement Officer / Specialist Supply Chain
A company within the financial services sector is

LOC Procurement Manager

  • Gauteng Permanent Procurement Management Procurement Officer / Specialist
Your Responsibilities: Job Purpose To be the interface ...More

Account Manager

  • >500 000 Procurement Officer / Specialist Supplier / Business Development Western Cape
Key Performance Areas:• To ensure that all aspects

Consultant

  • >500 000 Gauteng Procurement Consultant Strategic Sourcing Supply Chain
Key Performance Areas:• You'll be concerned primarily with

Commercial Buyer

  • <500 000 Buyer Contracts Procurement Officer / Specialist Western Cape
A well-known Mining company is seeking the services

Technical Buyer

  • <500 000 Buyer Contracts Procurement Officer / Specialist Western Cape
A well-known Mining company is seeking the services

Business Development Executive

  • >500 000 Gauteng Supplier / Business Development
A retail solutions company is seeking a New

Financial Manager

  • >500 000 Contract Operations, Planning & Inventory Procurement Management Western Cape
Looking for an unemployed CA (SA) in Cape

Chief Financial Officer

  • >500 000 Gauteng Operations, Planning & Inventory Procurement Management
An exciting opportunity exists for a CFO with

Procurement Consultant

  • >500 000 Gauteng Procurement Officer / Specialist Strategic Sourcing
Key Performance Areas: A profound knowledge of sourcing

Commodity Specialist: IT

  • >500 000 Commodities Gauteng Procurement Officer / Specialist
Key Performance Areas:• Effectively applies acquired technical/functional skills

Senior Consultant

  • >500 000 Gauteng Projects / Category Management Supplier / Business Development
Key Performance Areas:• Adheres to best practice processes

Logistics Manager

  • >500 000 Gauteng Logistics & Warehousing Operations, Planning & Inventory Procurement Management
Key Performance Areas:• Manage warehousing and distribution 3PL's

Head of Franchise Network

  • >500 000 Contracts Operations, Planning & Inventory Western Cape
The opportunity to work for a multinational retail

National Driver Manager

  • >500 000 Analyst Contracts Logistics & Warehousing Operations, Planning & Inventory Western Cape
The opportunity for an extraordinary individual to join

Commodity Specialist: Industries

  • >500 000 Commodities Gauteng Procurement Officer / Specialist
Key Performance Areas:• Under the guidance of the