Media advisory: DA to present plan to prevent job losses in the SME sector

Date: 09 May 2018 Release: Immediate   On Friday, 11 May 2018, DA Leader, Mmusi Maimane MP, will be joined by the DA Shadow Minister of Small Business Development, Toby Chance MP and the DA Gauteng Shadow MEC for Provincial Treasury and e-Government, Adrianna Randall MPL, to present our plan that will help solve the problem of late payments to Small and Medium Enterprises (SMEs) by government departments and the private sector. While SMEs generate half of South Africa’s gross domestic product (GDP) and nearly 60% of employment, the sector’s viability is threatened by the problem of late payments. Payments made after 30 days affect the cash flow of SMEs undermining their ability to survive as going concerns. This often leads to job losses and closure of some SMEs, further worsening the rate of entrepreneurial activity in South Africa. In a country with almost 10 million jobless people we should be focusing on SMME’s as the drivers of creating jobs. Despite this national government is notorious for late and non-payments to SMME’s who do business with the state. Government departments have as much as R7 billion in outstanding invoices to date. The event will take place as follows: Date: Friday, 11 May 2018 Time: 10:00 Location: Denel Vehicle Syatems, 12 Barnsley Street, Benoni https://www.google.co.za/maps/place/12+Barnsley+St,+Benoni,+1501/@-26.2090026,28.2987783,17z/data=!3m1!4b1!4m5!3m4!1s0x1e953d5fdf08bfa1:0x18b83184f54b664!8m2!3d-26.2090026!4d28.300967   Media Enquiries       Democratic Alliance   Portia Adams Spokesperson to the DA Leader 082 319 6666   Lulama Mankabane Communications Officer 078 955 6834   Enocent Nemuramba National Press Officer 071 095 1806