#BUDGET2018: “Budget speech gives hope to SME sector”

Paul Keursten, co-founder of OPEN Workspaces (experts on co-working ecosystems for the SMME and entrepreneur sector), shares his insight on the impact the Budget Speech will have on SMEs.

“Today’s Budget speech gives real hope to the South African SME sector, a critical growth engine of our economy,” said Keursten.

“We welcome the allocation of R2.1-billion intended for SMEs during the early start-up phase – a phase that is often bedevilled with regulatory and financial obstacles. If government can reduce the barriers to entry (such as Minister Gigaba’s mention of relooking local data prices, which is a step in the right direction) then SMEs and entrepreneurs can thrive in this country and contribute even more significantly to GDP,” added Keursten.

“South Africa has seen the growth of entrepreneurial hubs, innovation hubs, incubator and accelerator programmes. These represent a concentration of entrepreneurs, mentors, skill sets, learning opportunities and networks. The government should link up with these in order to bundle and leverage resources so real impact can be achieved and economic growth can be accelerated,” said Keursten.

“If government can reduce the barriers to entry (such as Minister Gigaba’s mention of relooking local data prices, which is a step in the right direction) then SMEs and entrepreneurs can thrive in this country and contribute even more significantly to GDP.” – Paul Keursten, OPEN Workspaces.