Catapulting African SME’s
South Africa is sitting at an economic crossroad. The National Development Plan (NDP) proposes many measures to accelerate economic growth and deal with the country’s rising social problems. However, since the introduction and acceptance of the NDP as South Africa’s new economic blueprint- the country’s growth rate hovers at 1.4%. Situated far below the minimum 5.4% that the NDP calls for over the next fifteen years. Unemployment has risen to its highest levels, 25.6% under the strict definition and, according to Statistics SA, 16 million people are expected to draw social benefits over the next year at a cost of 60% of government spending. South Africa needs an economic ecosystem that is designed to support market-driven inclusive growth, provide quality jobs, rapid skills development, innovation, increased productive output and better means to compete in a global economy.
Examination of the challenges faced by small businesses in South Africa
The NDP sets out various ambitious goals for the small to medium enterprise (SME) sector, including the target of 90% employment opportunities created through this sector by 2030. The NDP envisions the South African economy growing by at least 5.4% growth annually over the next 15 years. Although despite the sectors contributing commitment to growing and supporting the countries SMEs, these firms continue to face an extremely hostile business environment. This includes the lack of skilled staff members, burdensome regulations, tough local economic conditions, lack of finance and the high costs associated with employing staff.
South African Business Chamber (SBCA) offers the solution
Timmal Holdings continues to implement innovative solutions in contribution toward the South African economy and global development. We are proud to announce the launch of SBCA (Small Business Chamber Africa) as an official associate of SACCI (South African Chamber of Commerce and Industry). In partnering with SACCI, we can efficiently provide SME business growth and be a part of the solution. SBCA functionally provides services that contribute to economic growth.
SBCA elements of success
- Members gain opportunities to attain global development
Through strategic partnerships, SBCA offers a shared platform for global investors to identify SME’s within Africa. SBCA also offers its members opportunities to achieve global knowledge and experience through networking sessions, global skill sharing events and other international opportunities. By partnering with SBCA, SMEs can access international markets and take their product or service to the world. We contribute toward businesses by playing a prominent role in innovation and consultation, on par with global industry standards and government in a knowledge based society.
- Through collaborative relationships we ensure the business development
Members of SBCA will acquire services through our partners who specialize in each pivotal element of business. With these partnership, member’s growth will exceed expectations and meet business goals efficiently.
SBCA envisions to catapult the SME sector and assist in achieving business goals through SACCI, government alliances and accessing the private sector.
- Reducing Costs for SME’s
SBCA members will enjoy discounted prices with our partners. By assisting our members access discounted rates we aim to decrease overheads and increase profits resulting in business growth. We have carefully selected these services to address all business requirements required at these stages of a business.