Department lacks vision

South Africans often ask what the Department of Small Business Development is doing to stimulate the creation, survival and growth of small businesses, which are expected to create 90% of new jobs so desperately needed by our 9-million unemployed citizens. The answer is, very little.

From its own reporting, it is clear the department is practically invisible to 97% of businesses in SA. It has failed to create a conducive business environment for SMMEs.

Argentina recently approved an entrepreneurs law providing for the registration of a “simplified shares company” in 24 hours, tax incentives for investment in early-stage loans, zero-interest loans for promising start-ups, funding for 13 business accelerators and the formation of a National Trust Fund for Entrepreneurial Capital. It signals what can be achieved by a government that recognises the need for a joined-up approach to policy making, which our government does not understand.

Toby Chance MP Cape Town