Limited access to finance hampering SMME growth – Thabethe
The requirements of funding institutions continue to hamper the growth of small, medium-sized and microenterprises (SMMEs), Trade and Industry Deputy Minister Elizabeth Thabethe said at the close of the two-day National Small Business Summit hosted by the Department of Trade and Industry and the Mpumalanga Department of Economic Development, Environment and Tourism, in Mpumalanga, this week.
She said it was evident that there were several issues that still posed problems to the SMME sector, the most significant being a lack of coordination between the three spheres of government, the need for microfinance and the need to establish more youth-driven cooperatives.
“We have deliberated about various challenges over these past two days and will now investigate where these resolutions can be implemented to enhance our small enterprise sector,” the Deputy Minister commented.
The summit, which ended on Thursday, aimed to provide a platform for stakeholders to engage on government on its SMME programmes and to find solutions to challenges facing small enterprises in South Africa.
The second day of the summit comprised four breakaway sessions during which delegates deliberated on four themes including infrastructure development as a stimulant for economic growth; the creation of demand for small enterprise products and services; increasing the supply of financial and nonfinancial support; and the reduction of regulatory constraints.
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