SMMEs vital to economy

Small businesses urged to cooperate

FORMER mayor Nceba Faku was the guest speaker at the first Eastern Cape Small Business Network (ECSBN) business mixer held yesterday morning.

The event, held at Nelson Mandela Bay Stadium, was attended by more than 200 small business owners who gathered to network and discuss business strategies.

ECSBN corporate manager Lwandiso Mpetsheni said its purpose was to promote economic growth for small business owners in the Eastern Cape.

“Our goal is to organise entrepreneurs, SMMEs especially, under one umbrella.”

Presentations by Faku and Nelson Mandela Metropolitan University Business School business services manager Peter Grant encour- aged small business owners to engage with each other and the government.

Faku said small business played a big role in the country’s economy.

“Creating and enabling the [business] environment is the only way growth in the economy can occur,” he said.

Referring to President Jacob Zuma’s state of the nation address, Faku said small business was big business in South Africa.

“It is in the interests of big business that small businesses strive to improve,” he said.

Local government programmes and initiatives should encourage SMME growth, he said, not hamper their efforts.

“In the past, bylaws and regulations have caused difficulties in business.

“But bylaws and [municipal] regulations should be friendly towards the growth and development of small businesses,” Faku said.

Hands-on experience could assist in minimising problems and help uplift business relations.

“Shared knowledge and support for small enterprises is important to help [SMMEs] succeed and grow,” he said.

The economy continued to show slow development, Faku said. The government should do more to develop small and medium business.

“It is critical to focus on black business. We cannot afford to be bystanders.”

Grant said everyone had the capacity to be a successful business person. “It all starts with observing yourself and educating yourself.”

Lwando Mjekula, of network marketing company IFA Ulwando Bis, said the event had helped him with contacts and a chance to see how other small businesses operated.