Brian Sokutu
2 minute read
4 Feb 2021
6:30 am

Enough scope for SMME rebound

Brian Sokutu

Time to innovate and look for new opportunities in sector, value chain.

Photo: iStock

As South African industries continued reeling from the impact of earlier lockdowns, the subsequent easing of regulations looks set to lead to an economic rebound for small business. This is according to a small, medium and micro enterprises (SMME) business expert. The SMME sector experienced an adverse impact from the pandemic when government placed the country under severe lockdowns restrictions to reduce the spread of the virus, leading to the closure of many businesses classified as nonessential. According to Statistics SA 2019 figures, SMMEs generated R2.3 trillion (22%) of the R10.5 trillion (68%) revenue attributed to the formal business sector....