SME support is crucial for the SA economy, ENTERPRISE DEVELOPMENT HANDBOOK
SME support is crucial for the SA economy, ENTERPRISE DEVELOPMENT HANDBOOK
Small and Medium Enterprises (SMEs) undoubtedly play a crucial role in South Africa, rendering the sector critical and central to the quest for a growing, inclusive and employment-generating economy.
About 90% of formal business entities in South Africa are SMEs, which together contribute between 52% and 57% to GDP, and 61% to employment generation. In the case of the National Empowerment Fund (NEF), an agency of the DTIC mandated by legislation to promote and facilitate black economic participation in South Africa, the bulk of the portfolio of over 500 funded businesses comprises SMEs.
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