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Why are small businesses important for the economy?

It goes without saying that small businesses promote and encourage local entrepreneurship. But more than that, this article continues that, “Small businesses provide opportunities for entrepreneurs, jobs for neighbours and gathering places for communities. They’re rooted in the landscape where they grow, and they give back vitality and sustenance.” For many, small businesses are the local corner shops, or the homemade brownie side hustles the teenagers down the road are selling, but Pineapple Payments reports that small businesses are in fact any business with less than 500 employees. In this case, almost…

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2020 could be the year of the entrepreneur in South Africa

South Africa is home to many aspiring entrepreneurs and with the unemployment rate currently sitting at 29%, it may just be the answer to South Africa’s shrinking economy. Never before has there been such a dire need for entrepreneurs to positively impact and transform the community. Small business represents the greatest opportunity this country has to grow the tax base and provide employment. In an effort to assist small business an economic policy paper titled Transformation, Inclusive Growth and Competitiveness: Towards an Economic Strategy for South Africa has been released and proposes the following steps to promote growth in small,…

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