Tag: job creation

The untapped potential of Small and Medium Enterprise (SME) in the country is astounding. However, the red tape placed on them is even more startling. In South Africa we wouldn’t stand for our national teams playing with their hands tied behind their back.

As the world shifts away from disposable technology and towards sustainable, eco-friendly options, refurbished cell phones and laptops are increasingly becoming the go-to solution for consumers and businesses alike. Similarly, trading in used laptops and cell phones is becoming an ever more popular way for people to upgrade their devices with minimal expense and effort.

After years of sustained pressure especially from organisations like Sakeliga, the government relented in November last year and promulgated regulations stating that state-owned enterprises (SOEs) no longer have to comply with Broad-Based Black Economic Empowerment (B-BBEE), requirements when awarding government contracts.

Recycling has become a part of our day-to-day lives. Whether it’s the ritual of sorting our household waste or making the switch to reusable products, taking proactive steps towards sustainability goals by managing waste is already ingrained in our behaviour. This behaviour is supporting a widespread shift toward a circular economy.

Amidst the rising cost of living, interest rate and fuel price hikes, and load shedding, the elephant in the room remains persistently high rates of unemployment. Much fanfare tends to surround any announcement of a small decline in the quarterly unemployment rate as it did at the end of November 2022 when Statistics South Africa revealed that the official unemployment figure had decreased by one percentage point between the second and third quarters of 2022 from 33.9% to 32.9%.

“While spending on government consumption has been held down over the last ten years, demand for public services has increased substantially. Meanwhile, as public employment in health, education and criminal justice has stagnated, employment by private companies providing the same services has surged.

Pre-COVID-19, travel and tourism contributed 6.9% to South Africa’s gross domestic product, declining to 3.7% in 2020. Similarly, the number of jobs created by the sector dropped by 32.4% from 1.5 million to 987,000. It was, according to Statistics SA, bigger than agriculture, utilities and construction.

South Africa’s energy shortage is having a profound impact on its cities. Economic growth and jobs continue to be affected at a time when cities urgently need to recover from the COVID-19 crisis to retain their competitiveness and attractiveness.

While COVID-19 put the brakes on the economy, the post-pandemic recovery has almost been stymied by the ongoing Russian war on Ukraine and the impending fears of a US recession, contributing negatively to economies around the world. Through the most challenging hurdles, however, the franchise sector in South Africa has remained steadfast in its goals to grow the economy and create jobs.

Women entrepreneurs are on the rise globally, with this wave sweeping over the African and Middle Eastern region. Historically, Africa has led the world in terms of numbers of women business owners, with countries like Uganda and Ghana – leading the way.