The National Development Plan predicts that 90% of new jobs will be created by SMEs by 2030. Small and medium-sized businesses, however, believe much will have to be done before this prediction can become a reality.
Lindie Engelbrecht, executive director of Members and Global Alliances at SAICA outlined 10 findings from SAICA’s latest SME Insight Report relating to the aims of the NDP. This includes the fact that government and big business need to recognise the role larger, more established SMEs play in achieving the growth and employment objectives of the NDP. According to the report, one of the most significant reasons why SMEs fail is because of cash flow related problems. Government incentives are therefore a necessity for SME growth.
Digital vs traditional marketing
Vika Mpisane, CEO of ZADNA said an online presence is important because it allows potential clients to be able to find you. In the same way, it is important to register a domain name online, which becomes your unique online presence, as well as renew it annually to avoid theft.
According to panel discussion on integrating digital and traditional marketing, small businesses need to understand their consumers and where to reach them and then invest in the channels they use. The panel, consisting of Velly
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