Feedback from 4th Quarter SASMEF Board Meeting

The South African Small and Medium Enterprises Federation (SASMEF) on Monday 7 December concluded its quarterly board meeting taking note of the macro social economic issues that reflect negative credit risk ratings including the embarrassing corruption index, stagnant growth and increasing joblessness particularly amongst the youth.

In this context the SASMEF Chairperson Dr. Ruben Richards called for a renewed and robust effort to enable the environment for the growth of sustainable SMME’s.

Dr. Richards noted that SME is already the main instrument for growth and jobs. According to the National Treasury Research on SMMEs (2008) South Africa has an estimated 2.8 million small, medium and micro enterprises (SMMEs) which contribute 52%-57% of the GDP. SMMEs also provide about 60% of jobs, and contribute more than 40% of the country’s total remuneration. This means that SMME’s in South Africa employ more people than private sector and government combined.

However, according to Chris Darroll CEO of SBP (Business Day 8 December 2015) the SME growth index is showing downward trends. SME’s are battling to survive in a tough economic climate and increasingly hostile regulatory climate and 21% firms reporting a decrease in staff in 2015.

The board therefore affirms the SASMEF vision that as a national private social enterprise, SASMEF is committed to developing an enabling and vibrant environment where IMSME’s are able to significantly contribute to a healthy economy. SASMEF will intervene in three main areas: Policy, Money and Markets for inclusive growth. In this regard SASMEF is committed to UN Goal 8.

SASMEF has created the SASMEF Parthenon, a common place for policy makers, decision makers, practitioners and IMSME to find synergy in driving the SME eco-system.

SASMEF Parthenon

The board concluded the meeting with an invitation to all SME stakeholders into the SME pantheon as co-creators of an inclusive economy for South Africa.

Details: Parthenon and the SME Industry Health Monitor will be launched at the South African Small Medium Enterprise Federation Convention and AGM to be held 17 March 2016.

Stay connected with hash tag #IM_SME and join the movement. You can contact Carl Lotter, CEO of SASMEF, directly via carl@sasmef.org.za; Mobile 072 881 7900; Landline 021 850 0780.

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