n Transactions of the Centre for Business Law - Concept and development / Konsep en ontwikkeling : caput 1




Small enterprises play a valuable role in particularly in a country where the unemployment level is high by creating new job opportunities, providing stability, eliminating poverty, improving competitiveness, promoting the development of labour skills and ensuring economic growth. It was estimated in 1996 that small to medium enterprises in South Africa employed approximately 20% of economically active South Africans; more than 90% of South Africa's formal business entities could be classified as small to medium businesses; small to medium businesses provided jobs to approximately 7 million South Africans; and small to medium enterprises contributed almost 45% of the South African GDP.


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