http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 15.03Change: -0.11
R/$ = 13.36Change: -0.06
Au 1144.25 $/ozChange: 10.50
Pt 1010.00 $/ozChange: -2.00
 
 
Note: Search is limited to the most recent 250 articles. Set date range to access earlier articles.
Where? With... When?








Start
 
End
 
 
And must exclude these words...
Close Main Search
Close Main Login
My Profile News Alerts Newsletters Logout Close Main Profile
 
Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science and Technology   Services   Trade   Transport & Logistics   Water  
What's On Press Office Tenders Suppliers Directory Research Jobs Announcements Letters Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Sep 14, 2012

Absa launches index to assist SME development

Back
Absa CE|Africa|Africa|South Africa|Business Banking|Financial Services|Retail|Services|SME|Bobby Malabie|Mike Schussler|South Africa
Africa|Africa||Services|||
absa-ce|africa-company|africa|south-africa|business-banking|financial-services|retail|services|sme-market-index|bobby-malabie|mike-schussler|south-africa-region
© Reuse this



Unemployment remained one of South Africa’s key challenges going forward, and entrepreneurship could play a significant role in reaching the target of five-million new jobs by 2020, said financial services group Absa CE for retail and business banking Bobby Malabie on Friday.

With about 50% of the country’s youth unemployed and 15-million people on social welfare supported by 7-million taxpayers, the situation was unsustainable, he said, as Absa launched its Small and Medium-sized Businesses (SME) Index.

Malabie also pointed out that the consolidation of businesses through mergers and partnerships and a number of businesses folding owing to high operating costs and other economic pressures made it difficult for SMEs to employ more people.

The number of employers fell by 5 000 in the second quarter of this year, Absa commented, adding that the number of self-employed citizens also dropped from 1.28-million at the start of 2008, to 1.24-million in the second quarter. However, this was a year-on-year increase from 1.23-million in the second quarter of 2011.

The new Absa SME Index, which extrapolated data sourced from Statistics South Africa’s economic indicators, found that about 270 000 of the more than 1.9-million businesses employed five or more employees. Only 10% employed more than 50 employees.

The index, Malabie said, aimed to provide relevant information on the state and development of SMEs and the challenges of employment in South Africa.

“The Absa SME Index will provide valuable information that allows SMEs to make better and informed decisions with access to solid and reliable information that will help them to grow their businesses,” he said.

It would also enable policymakers to make policy decisions aimed at SME development, reducing high unemployment levels and creating jobs.

Economist Mike Schussler, who worked on the index, added that the index provided a quick overview on how SMEs were fairing.
 

Edited by: Mariaan Webb
Creamer Media Senior Researcher and Deputy Editor Online
© Reuse this Comment Guidelines (150 word limit)
 
 
 
 
 
 
 
 
Other Economy News
Finance Minister Nhlanhla Nene
Updated 3 hours ago Finance Minister Nhlanhla Nene on Tuesday launched a new central supplier database (CSD), which will ensure greater productivity and value for money from suppliers doing business with the State. The database would also enable government to engage and manage major...
Updated 3 hours ago Low water levels at Kariba dam will further worsen power generating capacity in Zimbabwe and Zambia, power utilities in the two southern African countries say, with power deficits seen widening until the onset of rains in November. Increased power deficits will...
Deputy President Cyril Ramaphosa
Updated 3 hours ago Deputy President Cyril Ramaphosa is to shed light on plans to improve the efficiency of key state-owned enterprises such as South African Airways, Eskom and the South African Post Office at a parliament briefing on Wednesday. Ramaphosa was assigned by cabinet in...
Article contains comments
More
 
 
Latest News
Updated 22 minutes ago South Africa’s growing energy crisis should be addressed through a well thought-through and phased programme that included economically feasible renewable-energy alternatives, nuclear energy and traditional fossil fuel-based sources, multidisciplinary engineering and...
Updated 29 minutes ago Financial advisory firm Deloitte has acquired Frontier Advisory to expand its business footprint in Africa. The company will now be known as Frontier Advisory Deloitte.
Updated 32 minutes ago New-vehicle sales in August dropped by 8.2%, to 51 055 units, compared with the same month last year. New-vehicle sales in the domestic market declined by 6.1% in July and 4.8% in June.
More
 
 
Recent Research Reports
Defence 2015: A review of South Africa's defence sector (PDF Report)
Creamer Media’s Coal 2015 report examines South Africa’s coal industry with regards to the business environment, the key participants in the sector, local demand, export sales and coal logistics, projects being undertaken by the large and smaller participants in the...
Real Economy Year Book 2015 (PDF Report)
There are very few beacons of hope on South Africa’s economic horizon. Economic growth is weak, unemployment is rising, electricity supply is insufficient to meet demand and/or spur growth, with poor prospects for many of the commodities mined and exported. However,...
Real Economy Insight: Automotive 2015 (PDF Report)
Creamer Media’s Real Economy Year Book comprises separate reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, gold, iron-ore and platinum sectors.
Real Economy Insight: Water 2015 (PDF Report)
Creamer Media’s Real Economy Year Book has been divided into individual reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, coal, gold, iron-ore and platinum sectors.
Real Economy Insight: Construction 2015 (PDF Report)
Creamer Media’s Real Economy Year Book has been divided into individual reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, coal, gold, iron-ore and platinum sectors.
Real Economy Insight: Electricity 2015 (PDF Report)
Creamer Media’s Real Economy Year Book has been divided into individual reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, coal, gold, iron-ore and platinum sectors.
 
 
 
 
 
This Week's Magazine
Training company The Intelligence Transfer Centre will host the fourth yearly Environmental Crimes Conference at the Indaba Hotel, in Fourways, Johannesburg between September 9 and 10. Confirmed key regulatory bodies that will attend the event include the Department...
The government of Egypt has said it is ready to provide technical assistance to Malawi in the development of the Shire–Zambezi waterway, which is designed to link landlocked Malawi to the Indian Ocean by opening the two rivers for navigation. Egyptian ambassador to...
Kenya is finally set to start building a new multipurpose petroleum pipeline, after securing a $350-loan from a consortium of banks, including South Africa's Rand Merchant Bank. The other banks in the consortium are the Cooperative Bank of Kenya, Citibank's Kenya...
MARAIS VAN HEERDEN The owner/operator should be able to view the overall project design and progress made at any time
Three-dimensional (3D) engineering design models can now be viewed on tablets, which enable stakeholders to view the design without having to buy the design software used to create it, says engineering design firm 3DDraughting executive Marais van Heerden. The...
Ford’s newest offering in a long list of newcomers to the local market in the last two years is the B-Max multi-activity vehicle (MAV). The B-Max will play in the so called B-MAV segment, or the small MAV segment, currently dominated by Toyota’s Avanza, which sells...
 
 
 
 
 
 
 
 
 
Alert Close
Embed Code Close
content
Research Reports Close
Research Reports are a product of the
Research Channel Africa. Reports can be bought individually or you can gain full access to all reports as part of a Research Channel Africa subscription.
Find Out More Buy Report
 
 
Close
Engineering News
Completely Re-Engineered
Experience it now. Click here
*website to launch in a few weeks
Subscribe Now for $96 Close
Subscribe Now for $96