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| South African Small Business Index Launched https://sabusinesshub.co.za/webforum/viewtopic.php?f=22&t=170 |
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| Author: | BenB [ Wed Jun 07, 2006 2:28 pm ] |
| Post subject: | South African Small Business Index Launched |
Good news for all the stakeholders in small business, and lets face it the countries economy depends on small business growth. According to Candes Keating and the Cape Argus: Trends, developments and the impact of government policies on small enterprises will be closely monitored by the newly launched Small Medium Micro Enterprise Business Confidence Index. "The index will provide the government and investors with the voices and actual thoughts of small medium micro enterprise owners throughout the country," said Professor Nicholas Biekpe, at the launch of the index in Stellenbosch yesterday. Biekpe, president of Africagrowth Research, heads the project. Small enterprises provided 61% of employment and made up 90% of South Africa's businesses, but their owners had never been able to voice opinions on the challenges facing them, he said. Up until yesterday, there has only been an index detailing big businesses. The new index will capture issues impacting on small business developments by looking at their access to bank credit, skills shortages and issues surrounding operating costs. It will also follow the impact of cheap imports on businesses, impact of HIV and Aids, as well as the impact of government taxes and policies. In order to compile the index, business owners have to register on the database, which already has 17 000 listed businesses. "We find out how businesses are operating. We look at their opinions and experiences and general business conditions. "We then pull all the responses together and put it into the index," said Biekpe. The quarterly index would be used by by policy makers and investors. "It will be distributed to the media, investors and the government." Biekpe said there were 2.5 million small medium micro enterprises in South Africa and together they generated more tax than big businesses. "They have a major role to play in the South African economy in terms of employment creation, income generation and output growth." Shawn Daniels, a small enterprise owner, said they did not know where to go for help or who to inform about the impact certain policies had on their businesses. The index would be enable them to keep the government and other important roleplayers in the economy updated about any developments in their businesses. Lizo Ntloko, regional manager of the Industrial Development Corporation which provides funding for small enterprises, said: "The index is very important. This will help us see what challenges they are facing and what interventions we can put in place." candesk@incape.co.za http://www.capeargus.co.za/ |
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