Minister Lindiwe Zulu to launch the revised definition of Small Enterprises in South Africa and release the Annual Review of Small Enterprises and Co-operatives in South Africa.
25 Nov 2018
Minister of Small Business Development, Ms Lindiwe Zulu, will, on Friday, 30 November 2018, launch the revised definition of small enterprises in South Africa and also release the Annual Review of Small Enterprises and Co-operatives.
Small enterprises are currently defined in multiple ways across a variety of different departments and functions within government, resulting in many different understandings of what is a small enterprise in South Africa. The schedule to the National Small Enterprise Act defining SMMEs was last revised in 2003. The definition of small enterprises should also provide a basis for recording statistical information and data on the sector to measure and monitor small business growth and development over time.
Redefining Small Enterprises has gone through an extensive process of research and consultation on the need to update the definition, and the Minister of Small Business Development gazetted the proposed updated schedule on 12 October 2018 for public comment. The revised definition of small enterprises has a bearing across government and the private sector, which requires broad stakeholder consultation on the amendments.
To coincide with the launch, the department will also be releasing its Annual Review of Small Business and Co-operatives, which provides background, data and challenges facing small enterprises and co-operatives in South Africa.
Members of the media are invited to attend the launch as follows:
Date: Friday, 30 November 2018
Venue: Riversands Incubation Hub (Conference Centre), Fourways
E-mail: CMonama@dsbd.gov.za; CMonama@gmail.com