The limited resources of an entrepreneur need to be focused on the business development process. The plethora of red tape costs a small business significantly more than a big business and this cost increases the risk of failure dramatically. We call for a reduction in the red tape through the establishment of a single point of web-based access with form-f ill capability to enable the entry of information once for all compliance documents related to doing business within specified sectors as well tax and labour compliance. This should be supported by electronic submissions and tracking reports.
While challenges present themselves in all policy directives, bold moves are needed in an economy that underperforms t he required growth r ates a prosperous South Africa demands. No challenge is insurmountable in the face of bold leadership.
Pavlo Phitidis is CEO of Aurik Business Accelerator (www.aurik.co.za), an organisation that works with business owners to grow their businesses into assets of value and a director of Aurik Enterprise Development.