by AKANI CHAUKE
JOHANNESBURG, (CAJ News) – SMALL businesses hope for concrete proposals from the Finance Minister, Tito Mboweni, about how the South African government will implement plans to resuscitate the economy.
The hopes are ahead of this week’s Budget Speech.
It follows the fifth annual State of the Nation Address (SONA) by President Cyril Ramaphosa.
“The task that faces Finance Minister, Tito Mboweni, is not trivial,” said Viresh Harduth, Vice President, Small Business, Sage Africa and Middle East.
Harduth said focus would be upon the minister to show how South Africa could build back a more vibrant, competitive economy, and at a time when the fiscus is under enormous pressure.
“We hope Minister Mboweni will seize the opportunity to clarify how government will create an enabling environment for entrepreneurs and businesses.”
Small businesses anticipate to hear how government would addressing load shedding and catalyse growth.
Harduth also expects to know how government would incentivise entrepreneurs to invest and removing blockages such as relatively high connectivity costs.
There are also hopes of a simpler tax and compliance regime for smaller businesses.
“As we look ahead to the Budget Speech, we hope to see measures to support small businesses and consumers rather than steep tax hikes,” Harduth concluded.
– CAJ News