the Policy objectives are aimed at:
? Facilitate increased access to financial products and services for SMMEs;
? Create an enabling institutional and legislative environment to strengthen the business development support for SMMEs;
? Support for the ease of doing business for the SMMEs through improved business start-up and growth;
? Facilitate and foster a culture of entrepreneurship, innovation and increase ICT usage in the SMME sector;
? Enact into law a legislative framework that will enable the promotion and co-ordination of the SMME sector;
? Facilitate and foster a culture of entrepreneurship, innovation and increase ICT usage in the SMME sector; and,
? Support and develop SMMEs owned by women, youth and disadvantaged groups and the informal sector.
Improve efficiency, cost-effectiveness and harmonization of the legal, regulatory and administrative environment for businesses, as well as appropriate incentive packages. Promote greater simplicity, cost effectiveness and efficiency in business licensing and registration and tax compliance procedures through greater use of Information and Communications Technologies (ICTs). Introduce "one-stop-shop" to facilitate business registration and application to reduce time and cost for setting up new businesses.
Policy consideration provides for tax breaks to prescribed SMME segments. Explore the feasibility of an annual flat tax rate for particular vulnerable self-employed individuals and target business sectors.
The survival of local SMMEs depends in part on the trade policy being pursued by the government both regionally and internationally. It is imperative that the Ministry of Commerce, Industry and Trade, in partnership with the Ministry of Foreign Affairs, and other key stakeholders, work harmoniously to capitalize on these opportunities. Encourage and support the participation of the SMMEs in relevant regional and global value chains by facilitating greater linkages with regional and international production networks and the effective sharing of the information.
Precondition for SMME development is to strengthen the entrepreneurial culture for all the population strata. The Introduction of entrepreneurship in the curricula of all primary, secondary and tertiary institutions has provided support to the practical component where students are encouraged to form businesses and gain useful skills from doing what they have been taught. Partner with the various development organizations, key private sector entities and academia, to promote entrepreneurship throughout the country, not just as a means of survival, but highlighting its possibilities for generating wealth and transforming the economy.
The SMME Policy has not direct budget line but benefit from the departmental budget as outlined in the National Budget through the parent Ministry
| Name of partner | Type of entity |
|---|---|
Ministry of Commerce, Industry and Trade
| Public Sector
|
The policy is still yet to be evaluated