The 27th of June is World Micro-, Small and Medium-sized Enterprises Day; this is how to use planning for growth to help SMMEs grow.
South Africa (24 June 2021) – Learning from the big business playbook and using the science of organisational behaviour to plan ahead for the structure and culture of their businesses, small business owners will have a better chance at longevity and achieving their potential as engines of economic growth and job creation.
Small, medium and micro enterprises (SMMEs) make up 98% of formal businesses[i] in South Africa, but they contribute only 28% (3.8 million) of jobs1 in the formal economy and little more than a fifth (22%/R2.3 trillion) of all formal business turnover.[ii]
The economic importance of SMMEs is acknowledged annually on 27 June, the United Nations-declared Micro-, Small and Medium-sized Enterprises Day to raise public awareness of their contribution to sustainable development and the global economy.
SMMEs have a significantly high failure …