There is no doubt that small businesses are the backbone of any economy. In South Africa, there is an incredible amount of talent and innovation amongst small business owners, but they often lack the resources to grow and scale. That’s where we come in – as a community of supporters, we can help these businesses thrive and create much-needed jobs and economic growth. So let’s get behind our local small businesses, and watch them flourish!
9 Reasons why Supporting Small South African Businesses is Important
1. Small businesses are the backbone of the South African economy
Small businesses make up the vast majority of businesses in South Africa and contribute significantly to the country’s GDP. In fact, small businesses are responsible for creating 60% of new jobs in the country.
2. Creates jobs
As mentioned above, small businesses are responsible for creating the majority of new jobs in South Africa. This is extremely important as unemployment is currently at an all-time high in the country. By supporting small businesses, you are helping to create much-needed jobs and boost the economy.
3. Reduces poverty
Reducing poverty is one of the main goals of the South African government. Small businesses help to reduce poverty by providing employment opportunities and increasing household incomes.
4. Promotes entrepreneurship
Small businesses promote entrepreneurship by giving people the opportunity to start and grow their own business. This is important as it helps to develop a culture of entrepreneurship in the country, which is essential for economic growth.
5. Develops local communities
Small businesses help to develop local communities by providing goods and services that are needed by residents. This is important as it helps to improve the quality of life for those living in poverty-stricken areas.
6. Preserves cultural heritage
South Africa is a culturally diverse country with 11 official languages and numerous traditional customs. Small businesses help to preserve cultural heritage by providing products and services that are specific to certain cultures.
7. Provides essential goods and services
Small businesses play a vital role in providing essential goods and services to local communities. This is especially important in rural areas where access to basic amenities is often limited.
8. Boosts economic growth
Small businesses contribute significantly to economic growth by creating new jobs, promoting entrepreneurship, and developing local communities.
9. Small businesses are more innovative than large corporations
Small businesses are typically more innovative than large corporations as they are not bogged down by bureaucracy and red tape. This allows them to be more agile and responsive to change, which is essential for economic growth.
Final thoughts:
Although it may be difficult to find small businesses in your area, the effort is worth it. South African small businesses are the backbone of our economy and they need our support now more than ever. Show your community spirit by supporting small South African Businesses, and tell your friends and family about the great products and services these small businesses offer. Together, we can make a difference.
Read related article – Sustainability essential for small businesses
