SBEU is a non-profit and voluntary organisation representing the aspirations and interests of small and medium-sized businesses and entrepreneurs in the Republic of South Africa.
Numerous studies by global institutions such as the Organisation for Economic Co-operation and Development (‘OECD’) and the World Bank have shown that small and medium-sized enterprises (‘SMEs’) account for an overwhelming part of business worldwide and simultaneously contribute considerably to private sector gross domestic products (‘GDP’), employment and growth. South Africa is no exception. Numerous estimates put the total economic output of SMEs to about half of South Africa’s GDP, while contributing approximately 60% of South Africa’s labour force. Small, medium and micro enterprises (‘SMMEs’) are central to social and economic inclusion as well as economic transformation and job creation. It is therefore not surprising that SMEs are seen as the backbone of many economies, including here in South African.
South Africa has formulated the National Development Plan (NDP), whose principal goal is to galvanise South Africa towards economic growth. Naturally the NDP recognises the important role that SMMEs will play in employment creation and redressing skewed ownership patters in the economy, as well as the challenges faced by early stage entrepreneurial activities.
The NDP calls for attention to challenges such as access to capital and raising the levels of investment in research, development, SME innovation, manufacturing and production activities that will help build a robust SME sector that creates jobs and fosters economic transformation. The NDP calls for partnerships and stronger resourcing of the country’s SMEs, by both the public and private sectors, in such areas as public procurement, improved access to debt and equity finance and unburden some regulatory regime.
To galvanise all South African stakeholders towards economic growth, economic empowerment and job creation through stimulating and supporting SMEs.
The pre-eminent voice for the small and medium-sized companies in the Republic of South Africa for economic growth and transformation.