White River - South Africa has not yet reached a point where small, medium and micro-sized Enterprises (SMMEs) are thriving, says Trade and Industry Deputy Minister Elizabeth Thabethe.
“We have big industries but we believe we need to do more in terms of SMMEs,” said Thabethe at a cocktail function on Tuesday evening.
Her comments come ahead of the department hosting the Small Business Summit, which will be held in the farming town of White River, Mpumalanga, today.
The annual summit is hosted by the Department of Trade and Industry (dti) in partnership with the Mpumalanga Department of Economic Development, Environment and Tourism (Dedet). The theme for this year’s summit, which will be attended by entrepreneurs, small business financiers and academia, among others, is ‘The role of SMMEs in South Africa’s Industrialisation Path’.
Thabethe said countries such as China, which forms part of the BRICS bloc (which South Africa is a member of), are where they are because of the role played by small business.
“They are where they are because at the bedrock of their economy is small business that is supporting their industries. They normally say think globally, act locally,” she said, adding that successful countries’ economies were supported heavily by SMMEs.
South Africa needed to look at successful models of best practices and localise them, Thabethe said.
Mpumalanga MEC for Economic Development, Environment and Tourism, Yvonne Phosa, said the promotion of entrepreneurship and small business support remained an essential priority.
Thabethe will today deliver the key note address at the summit. - SAnews.gov.za
