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Spazas are Gauteng's lifeblood

By unknown | May 31, 2007 | COMMENTS [ 0 ]

According to a recent survey, one in six adults in Gauteng runs a small business.

According to a recent survey, one in six adults in Gauteng runs a small business.

That means more than a million people are involved in the small business sector.

But before getting excited about this, let's examine what entrepreneurship is.

Simply put, it's how new businesses are created .

Entrepreneurship creates wealth and employment.

This makes entrepreneurs key players if South Africa wants to keep growing economically.

The country needs small businesses to reduce unemployment and to fight poverty.

Research by Finscope confirms these benefits. The research found that:

l the small business sector contributes 35percent of Gauteng's employment;

l small enterprises contribute significantly to the economy of Gauteng;

l about 180000 small businesses employ five or more people, significantly reducing the province's unemployment rate;

l about 69percent of small businesses in Gauteng are run from home by people who do not have post-matric qualifications. These firms provide an alternative route to an income for people without higher education and reduce the demand on the government to provide for the unemployed;

l most of the people who start small businesses are women who can't find other employment.

l most of the street hawkers and owners of spaza shops said they would consider formal employment.


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