South African small businesses need the nation to mobilise behind them more than ever before. That’s the word from Mike Anderson, CEO and Founder 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 the South African population to lend their support to the Shop Small Business movement and Small Business Friday™ on 4 September – a movement by the National Small Business Chamber (NSBC) in association with Nedbank.”
Speaking at the Global Entrepreneurship Congress in July this year, Small Business Development Minister Lindiwe Zulu reaffirmed that small businesses are key to unlocking economic opportunities and achieving inclusive growth, adding that South Africa’s high rate of unemployment, poverty and extreme inequality call for bold and far-sighted interventions. The minister’s sentiments are shared by Anderson – and for good reason. According to the Small Enterprise Development Agency (SEDA), 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 notably all the citizens of South Africa. “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 country’s high unemployment rate is well documented and its effects far-reaching. Yet South Africa’s business confidence rose by 3.3 index points to 87.9 in July 2015 according to the South African Chamber of Commerce and Industry (SACCI). This sentiment is aligned to the 2014 Nedbank Small Business Index (NSBI) results which reflected an optimistic outlook on small business owners’ business future with 54% anticipating an improved financial situation over the next 12 months, with 35% expecting it to remain as is.
“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.”
The Shop Small Business movement and Small Business Friday™ aims to put small businesses across South Africa firmly in the spotlight, by encouraging individuals to support, visit and spend at a small business all year round, especially on Fridays, and particularly on Small Business Friday™ falling on the first Friday of spring in September.
With more support, small businesses have the potential to breathe new life into the South African economy. “Small businesses represent countless hours of hard work, commitment, resilience and thousands of jobs. Providing as much support to small businesses as possible is an investment in our communities and South Africa’s collective economic future,” concludes Anderson.
Alan Straton
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