NEWS RELEASE                                                                                               01 June 2001

 SMALL BUSINESS CONTRIBUTES 50% TO CITY’S ECONOMIC OUTPUT               – Small Business Week to enhance growth                                                       

Scared to go at it alone in business? Don’t be – that’s the message from the City of Cape Town, NGOs and hundreds of successful small business people who will never look back.

Small, medium and micro enterprises are rapidly replacing formal industry as the bedrock of the local economy and are seen as the engine for economic growth in the future. 

To demonstrate its unwavering commitment to assisting small business through a range of development initiatives, the City of Cape Town will host Small Business Week at the Peninsula Technikon from 17 to 20 July this year. 

“We want to encourage potential entrepreneurs to take the plunge into business on their own in the knowledge that there is a vast network of support available from the Council, NGOs and the private sector,” said Councillor Kent Morkel, the Council’s Executive Committee member responsible for the Economic Development, Tourism and Property Management portfolio. 

As the political driver behind the expansion of small and micro business in the city, Councillor Morkel has pledged full support to all initiatives that promote job creation and economic development, including Small Business Week. 

Through a series of exhibitions, business courses, workshops and a range of networking opportunities with the public and private sector, the council aims to inform small business about procurement opportunities, joint venture initiatives with business, offer practical training courses and obtain input on the city’s Economic Transformation Programme. 

“We want to provide a platform for input from big and small business and the public sector regarding our Economic Transformation Programme for the city,” said Councillor Morkel. “Small business is already contributing 50 per cent of the total economic output of the city, and its share is certain to grow even further.” 

Shahid Solomon, the Council’s Interim Manager for Economic Development, Tourism and Property Management, said the Council is committed to working as an integrated unit with other key economic role players, including the private sector, in promoting small business development. 

“There are 60 000 small, medium and micro enterprises (SMMEs) in Cape Town and we want them to take the opportunity in Small Business Week to equip themselves with the services offered by big business and also to promote the concept of entrepreneurship to all our communities,” he said.   

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