SA must set up SMME ministry, says Black Business Council
THE Black Business Council (BBC) is calling for the creation of a new ministry to focus strictly on small, micro, and medium enterprises (SMMEs).
The call for a ministry of small business comes after the BBC’s national council meeting this week.
“We need a minister that must be accountable and have their own budget,” Ndaba Ntsele, BBC President said.
The coordination on SMME development was currently limited, Ntsele added.
“The lack of adequate focus on SMMEs is cause for concern,” Sandile Zungu, BBC secretary noted.
Small businesses, challenged by lack of access to funding, delayed settling of invoices and lack of adequate skills, had no immediate avenue where their concerns could be addressed, according to the business organisation.
The BBC also discussed other issues including the mining sector, corruption, and the proposed national youth wage subsidy.
It said it remained “deeply concerned” at the lack of sustainable transformation in the mining sector.
Less than 5% of the aggregated value of shareholders equity in mining companies was in black hands, it said.
“Whereas we do not believe in any extra constitutional measures to deal with the inability of the mining industry to grapple with the changes, revolutionary change is what is required in the mining industry,” Zungu said.
The BBC welcomed the youth wage subsidy, but added that the concerns and views of government, labour and business should be further discussed at discussion forum Nedlac [National Economic Development and Labour Council] prior to the approval of the scheme.
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