Minister of Small Business Development Stella Ndabeni has outlined priorities that will guide South Africa’s efforts to support start-ups and small businesses locally and globally.
Ndabeni stated these priorities at the launch of the Startup20 Midterm Engagement Group Meeting at Birchwood Hotel in Ekurhuleni on Monday.
She highlighted the importance of building a solid foundation for entrepreneurs, saying South Africa is focused on improving policies and strengthening support systems to help early-stage businesses succeed.
Ndabeni said innovation and long-term growth need an enabling environment to succeed.
The second priority is finance and investment. She said many startups, especially those led by women and young people, struggle to access funding.
According to Ndabeni, South Africa is working to close gaps in early-stage financing and promote cross-border investments, including support for capital readiness to reduce risks for investors.
“Third, there should be a focus on inclusion and sustainability, emphasising circular economy models and green innovation incentives and providing pre-investment business support specifically for enterprises led by youth and women to enhance their capital readiness.
“Fourth, market access, with a focus on facilitating international trade, enabling e-commerce, reforming public procurement systems, and supporting integration,” said Ndabeni.
Access to finance, support services
She also highlighted the importance of township and rural entrepreneurship, underscoring South Africa’s commitment to enhancing infrastructure, connectivity, and local value chains in underdeveloped areas.
The goal, she said, is to expand access to finance and support services for cooperatives and microenterprises.
Ndabeni said the task teams, which are made up of local and international experts, have already been set up to work on these priorities and will present clear policy recommendations at the Startup20 Summit in November.
The inaugural Startup20 Awards, aimed at recognising the best start-ups and support organisations in G20 countries, will also take place at the summit.
She said the South African Presidential Ministry of Micro, Small, and Medium Enterprises Awards would also be part of the programme.
“This is indeed a historic week for entrepreneurs and MSMEs. Running parallel to this Midterm Startup20 Engagement Group Meeting is a meeting of Global Trade Promotion Organisations, which we are co-hosting with the DTIC [Department of Trade, Industry, and Competition] and the International Trade Centre.
Ndabeni stated: “They will deliberate on the reconfiguration of the global trade system and explore strategies for SMMEs to enhance their resilience and explore new markets.”
Support for small businesses
The International Trade Centre will host the Global SME Ministerial on Wednesday and Thursday.
Deputy ministers and officials from more than 60 countries, along with several international organisations, will meet to talk about how to support small businesses and entrepreneurs and to find better ways to grow that support around the world, especially in countries that are often left behind.
“Specifically, the high-level meeting will look at how to bridge the digital divide to empower SMMEs and start-ups with the infrastructure, skills, and tools needed to compete globally and how to unlock capital access, especially for women- and youth-led businesses through inclusive financial ecosystems,” she said.
Ndabeni emphasised the importance of positioning SMMEs as crucial participants in the green economy, promoting sustainable practices, fostering circular innovation, and cultivating inclusive trade policies that guarantee SMMEs a place in the global economic arena.
