Bid to life up SMMEsNov 20, 2013
The United Nations Development Programme has partnered with the country’s business organisation to help small medium and micro enterprises. The UNDP yesterday signed a memorandum of understanding with Business Unity SA (Busa) and the Black Business Council (BBC) to establish the UNDP-Busa-BBC Private Sector Development Forum on Inclusive Market Development.
The forum with bring the three parties to discuss ways in which large corporation in South Africa can work to develop sustainable small businesses.
This initiative is a platform for the three organisations to collaborate on developing greater inclusive markets in South Africa.
The initiative seeks to further examine and work towards increased and broadened economic growth in South Africa. Busa, UNDP, BBC all concluded that the country’s goal of creating five million jobs by 2020, underscored in the New Growth Part, was in jeopardy unless solutions were found to include and strengthen all the country’s productive sector into the economy. By promoting inclusive markets, the partnership will strive to extend of economic opportunities and choices to all segments of a population while effectively expanding the region’s economic activity.
BBC spokesman Sandile Zungu said the partnership was a big step in the development of SMMEs. He said the forum is where the three parties would be meeting on regular basis to share ideas, experienced and even frustration on dealing with the development of SMMEs. Zungu said a study will be conducted in Mexico, where UNDP has done a lot of work and a tour to the country to see how they have done it.