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

Tutor and Coordinator

  • Gauteng Operations, Planning & Inventory Permanent Procurement Management Supplier / Business Development
Purpose of the job: To plan, coach, advise

Commodity Manager

  • <500 000 Commodities Gauteng Procurement Management
Are you a Commodity Manager looking for the

Supply Chain Professional

  • <500 000 Gauteng Procurement Management Supply Chain
I specialize in placing professionals in the Supply

Supply Planning

  • <500 000 Gauteng Operations, Planning & Inventory Supply Chain
Seeking dynamic candidates to take to the market

Industrial Engineer

  • <500 000 Gauteng Industrial Engineer Procurement Consultant
Are you an Industrial Engineer looking to make

Logistics Manager

  • >500 000 Gauteng Logistics & Warehousing Supply Chain
Seeking vibrant industry specific individuals seeking new opportunities

Operations Manager

  • <500 000 Gauteng Operations, Planning & Inventory Procurement Management
Looking for an Operations Manager to take into

Supply Chain Systems Administrator

  • >500 000 Gauteng Procurement Management Strategic Sourcing Supply Chain
One of South Africa's leading, mining companies is

Logistics Manager

  • <500 000 Gauteng Logistics & Warehousing Procurement Management
Are you an experienced Logistics Manager looking for

Continuous Improvement Manager

  • >500 000 Gauteng Procurement Management Supply Chain
I specialize in placing professionals in the Supply

Warehouse Assistant

  • <500 000 Gauteng Logistics & Warehousing Operations, Planning & Inventory
I am currently looking for ambitious Demand Planner,

Internal Procurement Officer

  • <500 000 Gauteng Permanent Procurement Officer / Specialist Strategic Sourcing
Position Available: Internal Procurement Officer Status : New ...More

Supply Chain Officer

  • <500 000 Gauteng Procurement Officer / Specialist Supply Chain
Seeking dynamic candidates to take to the market

Supply Chain Planner

  • <500 000 Free State Operations, Planning & Inventory Supply Chain
Seeking dynamic candidates to take to the market

Senior Buyer

  • >500 000 Buyer Gauteng Procurement Management
Tech-Pro specialises in placing professionals in the Supply

Industrial Engineer

  • <500 000 Gauteng Industrial Engineer
Tech-Pro specialises in placing professionals in the Supply

Warehouse Manager

  • >500 000 Gauteng Logistics & Warehousing Operations, Planning & Inventory Supply Chain
Seeking hands on individuals that come from an

Manufacturing Purchasing Specialist

  • >500 000 Procurement Officer / Specialist Supply Chain Western Cape
A leading auto manufacture company based in Cape

Procurement Sourcing Specialist

  • <500 000 Gauteng Procurement Consultant Strategic Sourcing
A Leader in the Supply Chain industry is

Planning Manager

  • >500 000 Gauteng Operations, Planning & Inventory Procurement Management
Looking for Planning Managers to take into the