Opportunity Issue 106

53.6% of businesses expect to grow online sales to customers during
quarter 2 of 2023.
Small businesses are anticipating that several challenges will
remain during the second quarter of 2023, including continued power
interruptions and increased cost of goods and energy.
What is needed for growth
The SBGI survey also explored the need for future skills and
competencies of small businesses. Predominant future skills and
competency requirements included import and export trade skills,
business development and marketing skills, cashflow management
skills, financial management competencies, investment
management competencies and debtor management.
Leading preconditions and priorities for small business survival and
business growth resulting from the SBGI survey include a stable business
and political environment, access to local and international markets,
increased clientele and consumer spending, economic growth and
government support, improved infrastructure, port transport logistics,
better service delivery, no power cuts, functional policies and policy
stability, lower VAT and a stable, effective and corruption-free local,
regional and national government.
Considering the current small
business growth prospects,
the overall SACCI | BMR SBGI
recorded a total of 49.33
index points (on a 100-point
scale) which showcases rather
sluggish growth prospects and
unfavourable small business conditions for the first quarter of 2023. Small
business growth prospects and conditions for Q1 were least favourable
for older businesses, sole proprietors, female-owned businesses, singleowned
businesses, micro (1-10 employees) and home-based businesses,
and business with an annual turnover of less than R1-million.
Small business growth is possible according to the SACCI |
BMR SBGI should certain short-term policy recommendations be
prioritised. These include increased access to fiscal and development
finance, venture and working capital support, a lower cap on energy
costs, improved access to domestic and international markets,
facilitating mentorship from bigger business, extending the
solar-panel tax incentive to businesses as well as the provision of
subsidised insurance policies to business through SASRIA, provision
of specialised mentorship to disabled entrepreneurs, a shortening
of the DFI-finance approval process and a review of the approach to
the application of the minimum wage to small business; the current
approach has priced staff in small towns out of the market.
The SBGI envisions to become a leading national brand in South
Africa representing the voice of the small business community. The
SBGI intends to brand the concept of a developmental community of
“small business ambassadors” who will share and gain access to small
business intelligence, advice and opportunities to participate in public
debate and stakeholder advancement.
Released by the South African Chamber of Commerce and
Industry (SACCI) and the Bureau of Market Research at the University
of South Africa (Unisa).
Professional enquiries:
South African Chamber of Commerce and Industry
(SACCI)
Mr Alan Mukoki: CEO, South African Chamber of
Commerce and Industry (SACCI).
Email: alanm@sacci.org.za
Bureau of Market Research (Pty), University of
South Africa
Prof DH Tustin: CEO, Bureau of Market Research (Pty)
Ltd, University of South Africa:
deon.tustin@bmr.co.za
Prof PK Kibuuka: Director, Bureau of Market Research
(Pty) Ltd, University of South Africa:
paul.kibuuka@bmr.co.za
Prof CJ van Aardt: Director Bureau of Market Research
(Pty) Ltd, University of South Africa:
carel.vanaardt@bmr.co.za
Despite challenging conditions, about one in five small businesses anticipate strong
growth according to the Small Business Growth Index. CREDIT: SAB Foundation
Tholoana Enterprise Programme
www.opportunityonline.co.za | 15