There is nothing small about the impact small businesses have on our economy
South Africa has hundreds of thousands of small businesses and there’s nothing small about the impact these small businesses have on our country’s economy.
Small businesses need the nation to mobilise behind them more than ever before. That’s the word from Mike Anderson, Founder & CEO of the National Small Business Chamber (NSBC). The role that small businesses play in job creation, poverty alleviation, service delivery, and wealth creation all mean that small business is big business.
“Nearly two thirds of all South African workers are employed by small businesses,” says Anderson. “Small businesses also contribute a significant portion of our country’s gross domestic product, which is why we’re encouraging South Africans to lend their support to go out there and support their local small businesses.” This means that, the more support they receive, the more people they can employ, and the more successful our country becomes – which is good news for every small business.
“Small businesses are key to unlocking economic opportunities and achieving inclusive growth, adding that South Africa’s high rate of unemployment call for bold and far-sighted interventions,” says Anderson. One out of five units exported from South Africa is produced in the small and medium business sector. Adding even more weight to the argument that small businesses are the mainstay of the South African economy, and need greater support from government, the public sector, and of course ordinary South Africans. “Making a small change to where we spend our money can have a huge impact on small businesses, our communities and ultimately our economy,” says Anderson.
“The advantages of supporting small businesses lie not only in making an impact on the economy, but also the positive difference it can make in uplifting local communities. Locally owned businesses help shape strong communities by keeping vital spend within small towns and cities, leading to vibrant local economies that benefit all who live there,” says Anderson. “There are plenty of advantages for consumers too, very often small businesses care deeply about the kind of customer service they deliver; knowing that quality products and personalised service is what keeps their business thriving.”
With more support, small businesses have the potential to breathe new life into the South African economy and play an even bigger role in economic growth and job creation. Small businesses represent countless hours of hard work, commitment, resilience and thousands of jobs. When South Africans support the ‘small’, they make a big impact. Providing as much support to small businesses as possible is an investment in our communities and South Africa’s collective economic future.
“Through a sustained nationwide effort, we want to bring about permanent change in the hearts of all South Africans. We want to encourage everyone in our country to support their local small businesses as a priority. So, when you all go out to shop, please make that all-important choice, support your local independent small businesses,” concludes Anderson.