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This is the average salary in SA - and it's not keeping up with inflation

According to Stats SA (link to http://www.statssa.gov.za/?p=14164 ), the average monthly salary in South Africa was just over R23 000. This was higher than in 2019 (by 3.1%) but did not keep up with the rate of inflation (at 3.2%). There was also a sharp drop in employment in 2020 and, those who kept their jobs, lost R13 billion in bonuses and overtime in December 2020. Workers in the construction industry were worst hit.  

Read more on Business Insider South Africa

Entrepreneurship Report Reveals How Startups Can Drive Growth in a Disrupted World

"USB launches Global Entrepreneurship Monitor South Africa (GEM SA) report in partnership with GEM SA and Seda.

The economic and social upheaval caused by the COVID-19 pandemic underlines the need for a collective, and robust national strategy to unlock entrepreneurship in South Africa. Already before the pandemic, many aspects of the country’s entrepreneurial ecosystem needed a major overhaul. This is highlighted in the Global Entrepreneurship Monitor South Africa (GEM SA) 2019/2020 report.

The University of Stellenbosch Business School (USB), the Global Entrepreneurship Monitor (GEM) and the Small Enterprise Development Agency (Seda) launched the report on Monday, 8 June 2020.

GEM’s research output is considered the world’s most authoritative annual report on the global state of entrepreneurship. USB is the new custodian of this research in South Africa. The study included a survey sample of 3 300 people, and the national expert survey involved the input of 36 experts from diverse fields."

Read more in this article by University of Stellenbosch Business School

Sanlam ESD Programme Committed to Helping SMEs Succeed

"Small Medium Enterprises (SMEs) operating on the African continent face several challenges that threaten their growth and sustainability. These include limited access to markets, informality, financial inadequacies, and a lack of vital business skills in planning, financial management, marketing, and operations.

In response, diversified Pan-African financial services group, Sanlam together with the Association for Savings and Investment South Africa (ASISA) Enterprise and Supplier Development Initiative have developed a programme to help entrepreneurs gain access to markets, funding, and skills. Sanlam’s support for entrepreneurship is driven through the Sanlam Enterprise Supplier Development programme (ESD), which offers a tailored solution for business owners that caters exclusively to their needs.

Started several years ago, the group’s ESD programme has been advocating and supporting the acceleration of the growth of small and medium businesses in their supply chain."

Read more on Social-TV

Focus on Enterprise Development with Zandile Njamela, Accenture Global

 

"Enterprise development has been growing in South Africa since entrepreneurs have been called on to come up with more innovative ideas. Our business development programs effective? As part of entrepreneur month, we focus on this subject that seeks to celebrate young entrepreneurs for their efforts in developing business, contributing to GDP growth and creating those much-needed jobs."

The role of enterprise development as driver of S.Africa's economy - CNBC Africa

The NDP states that about 90 per cent of jobs will be created through small and expanding companies by 2030. On this episode, CNBC AFRICA will hone in on enterprise development from its role in the South African economy to whether or not the country has the right regulatory framework in place to help drive this sector with Nomvula Makgotlho, chief director of the Ministry of Small Business Development, Roy Ross, chief executive of Business Banking Africa for Barclays Africa, Miriam Altman, National Planning Commissioner and Matsi Modise national executive director of the South African Black Entrepreneurs Forum. CNBC Africa, 2015

Enterprise Development in South Africa - CNBC Africa

Only 2 percent of South Africa's population start businesses that survive the three year mark. Growth in these numbers is important, however, as it will benefit the economy by providing jobs thus reducing social grants issued by government. Interview on CNBC Africa, 2013.

10 Ways to Invest in Enterprise Development

10 ways to spend Enterprise Development are:

  1. Provision of training or mentoring by suitably qualified entities or individuals to SMME’s which will assist the SMME’s to increase their operational or financial capacity; A Good example of this is How2Tender.com’s Enterprise Development package!
  2. Investments in beneficiary entities (SMME’s);
  3. Loans made to beneficiary entities;
  4. Guarantees given or security provided on behalf of beneficiaries;
  5. Direct costs incurred by a measured entity in assisting and hastening development of beneficiary entities;
  6. Contributions made to settling service costs relating to the operational or financial capacity or efficiency levels of beneficiary entities;
  7. Relaxed security requirements or absence of security requirements for beneficiary entities unable to provide security for loans;
  8. Settlement of accounts with beneficiary entities over a shorter period of time in relation to the measured entity's normal payment period, provided the shorter period is no longer than 15 days;
  9. Providing training or mentoring to beneficiary communities by a measured entity;
  10. Payments made by the measured entity to suitably qualified and experienced third parties to perform Enterprise Development on the measured entity's behalf.

Source Details:

http://www.sa-tenders.co.za

ENTREPRENEURSHIP IS ON THE AGENDA AGAIN: More hype or real action?

If entrepreneurship is really to be reinvented in South Africa it needs to be part of a larger paradigm shift at the level of the market economy. This includes:

  • A robust and interactive entrepreneurship ecosystem that offers equal access to opportunities, development tools and comprehensive access to resources.
  • A functioning ecosystem that connects everything, from suppliers, distribution channels, universities, to venture capital.
  • Improving access to entrepreneurial finance and market access for small businesses to ensure there is a level playing field for opportunities.
  • Long-term investments need to be made in developing entrepreneurial capital, which is a function of individuals with a high quotient of human and social capital.  

Small businesses are not simply just smaller versions of big business; instead they are vulnerable as they are small and new and consequently need a supportive environment and a mix of responsive policy interventions.

Read more by Boris  Professor Urban

EU supports South Africa to boost job creation, small business development and improved governance with €62 million

The new EU programme 'Employment Promotion through small, micro and medium enterprises Support Programme for South Africa', worth €52 million, will help to boost job creation in South Africa by supporting the country's National Development Plan 2030, which foresees that 90% of new jobs in the country should come from small and emerging business by 2030. Implemented by the South African Department for Small Business Development, the new programme will help reduce the cost of doing business for small enterprises, improve business, production and marketing skills, increase access to funding by de-risking enterprise development lending and keeping the interest rate at reasonable levels.

Read more in the European Commission Press Release

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