KGANKI MATABANE: Ramaphosa must address the plight of SMMEs

Late or nonpayment of invoices by clients is one of the main contributors to the failure of small businessesGlobally, small enterprise development and promotion has taken prominence due to the higher potential they have to reduce unemployment and spur economic growth.

According to the National Development Plan, of the 11-million new jobs that are targeted by 2030, 90% are expected to come from the SMME sector. To achieve this goal it is essential that government creates and maintains a more conducive environment in which these businesses can thrive. This has many adverse effects, not only on the sector, but also on the economy at large. First, business owners have had to take time that could have been spent coming up with growth strategies and managing business operations to spend on chasing payments. We are also an ecosystem, and the efficient operation of one business has an impact on the operation of another. Some of these SMMEs have not been able to pay their own suppliers due to lack of cash flow.

Out of the seven reasons cited for non-compliance, five are within the ambit of government departments to correct. Despite departments having taken steps to conduct a root-cause analysis of reasons and provide recommendations to remedy the causes, implementation plans lack timelines that can be used to ensure solutions are implemented with speed and accountability.

A timeline of six months for all government departments and state-owned companies to settle outstanding debts, with monthly update reporting provided to the president by all affected ministers;

Surprised this has not taken off in 28 yrs, artificial business principle at exorbitant cost to client.

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