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  • Finweek - English

    Analysing the state of SMMEs in a stagnant economy

    Feb 28, 2020 4 minutes
    By Glenneis Kriel

    relatively little credible data is available about small, micro and medium enterprises (SMMEs) in South Africa, and the available stats look dismal. A 2018 study by the Small Business Institute (SBI) showed that the number of micro firms in SA increased from 169 986 in 2011 to 176 333 in 2016, whereas the number of small firms increased from 63 864 to 68 494 and medium firms from 15 257 to 17 397.

    SMMEs, in effect, are not growing fast enough to meet the National Development Plan (NDP) targets, which envisioned that the segment would contribute up to 80% of GDP growth and generate 90% of an estimated 11m new jobs by 2030.

    “The segment would have to grow at a

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