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Gordhan works on fixing small business funding
Finance Minister Pravin Gordhan was aware that there were funding problems facing small business and was engaging with funding institutions to find out where the blockages were, he said in Soweto on Thursday night.
“We are not doing well on small business funding as far as I am concerned,” he told a meeting that had been organised by the Greater Soweto Business Forum at the Soweto campus of the University of Johannesburg.
Gordhan said the government had gone a long way to make it easier for small businesses to pay tax and this was paying off.
He said he had been confronted by officials from India and Malaysia recently who pointed out that South Africa was lacking in small business development.
“How do we have more and more entrepreneurs? We need to move away from the mindset that says government will do everything for us. The dialogue must go on as to what we do for small business in the next 10 years. There are many changes that we need to do. We have to move to 7 percent growth for the next 20 years in order to grow small business,” Gordhan said.
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