Principles of Management IIB - Entrepreneurship (BUSE2022)
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Principles of Management IIB (Entrepreneurship) by ProfessorBurgerQueen
Chapter 8: South African Policy And Broader Contextual
Issues
The National Development Plan (NDP)
- The strategy to eliminate poverty and reduce inequality in South Africa by 2030;
- Large-scale investment project to develop the economic infrastructure, education,
social welfare, science, and innovation of the country;
- If adequately implemented by 2030:
- Our economy should be close to full employment;
- Equipped and skilled labour;
- Ownership of production that is diverse and able to grow rapidly;
- Resources to invest in human and physical capital
- The NDP has the potential to increase the opportunities available for
entrepreneurs and make available resources to exploit these opportunities,
such as:
- Increasing exports and focusing on areas where SA already has endowments
and comparative advantage - mining, construction, mid-skill manufacturing,
agriculture and agro-processing, tourism and business services;
- More resources for entrepreneurs are linked to the NDP such as:
- More efficient and competitive infrastructure to facilitate economic activity that
is conducive to growth and job creation;
- Support for small businesses through better coordination of relevant
agencies, DFIs, and public and private incubators;
- An expanded skills base through better education and vocational training;
- Strengthened financial services to bring down the cost and improve access
for SMEs;
- A higher rate of investment, with public sector investment crowding in private
investment (PPPs); and,
- A labour market that is more responsive to economic opportunity.
Promotion of Entrepreneurship and SMMEs
- The National Small Business Act 102 of 1996, helped to establish many of the
supportive structures now in place for start-ups and development of SMMEs;
- In 2004, the Department of Trade and Industry (dti) led a 10 year review on the status
of small enterprise support in SA. This led to the development of an Integrated
Strategy on the Promotion of Entrepreneurship and Small Enterprises, which aimed
to:
- Increase supply for financial services support;
- Increase supply of non-financial services support;
- Create demand for small enterprise products and services; and,
- Reduce small enterprise regulatory constraints.
, Principles of Management IIB (Entrepreneurship) by ProfessorBurgerQueen
Broad-Based Black Economic Empowerment Policy
- South Africa’s B-BBEE is a specific policy to advance economic transformation and
enhance the economic participation of black people in the SA economy;
- A B-BBEE scorecard measures the efforts of both for-profit and non-profit entities in
increasing the following in their operations:
- Black Ownership;
- Skills Development;
- Enterprise and Supplier Development;
- Management Control; and,
- Socio-economic Development
National Strategy For The Development And Promotion Of Franchising
- This strategy seeks to:
- Increase the participation of local entrepreneurs in franchising;
- Create entrepreneurial culture through franchising;
- Create an environment conducive to the growth of franchising; and,
- Promote linkages between big and small enterprises in order to stimulate the
creation of new franchise enterprises.
- In order to enable entrepreneurs to exploit the franchising opportunities, actions
include:
- Facilitating joint ventures between government, franchisors, and investment
businesses to stimulate greater availability of capital for investment of
franchise-based business ventures;
Strategic Framework On Gender And Women’s Economic Empowerment
- The strategy purposes a large number of initiatives aimed at both opportunities and
resources for women entrepreneurs, that include:
- Provision for business information – incentives include: information business
forum for women programme, the annual business symposium for women
and your government telling you like it is project;
- Entrepreneurial education and training – incentives include: self-employed
development-support programme, the young women in entrepreneurship
programme, the women enterprise programme, the south African women in
business programme and the women in manufacturing programme;
- Financing gender budget analysis
- International trade
- Research and statistics
- Science and technology
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