The five ways in which government can have the most positive effect on the community is by making capital more accessible, facilitating business education, promoting entrepreneurship, reducing regulatory burdens, and protecting intellectual property.
With most of the world’s business being conducted by small entrepreneurs, it makes good economic sense for governments to implement policies that encourage small-business growth. Is the Local Municipality of Madibeng promoting small businesses?
That Government policies can have a huge impact on the growth and promotion of small business is a vast understatement. In Madibeng there is too much hunger and need. Small business is one thing with a proven capacity not only to ease suffering, but also to create a solid middle class, generate a secure tax base, and foster social stability. All in all, small business is good business.
There should be meetings after meetings in the municipal boardroom together with the small business owners to plan ahead and see how Madibeng can sustain such businesses. Madibeng should further recognise such businesses and have a good working relationship with them.
By working together, the municipality will therefore be able to support such businesses and see to it that they are promoted and create jobs. That way, people will be more willing to leave the comforts of their jobs and start new businesses too.
Although, since then, I have learnt that entrepreneurs actually like to take small, calculated risks. Therefore, if a government wants to promote small business, it must advance policies that reduce the risk inherent in entrepreneurship.
So the first policy necessary to promote small-business development is one that would assist entrepreneurs to find the funds they need to get started. The first thing Madibeng should do to promote small business is to establish a pool of state guaranteed loans. Nedlac should get involved hands-on.
Easy access to capital creates the foundation for a lively small-business sector. There are many things that go into creating a successful small-business economy, but surely a significant one is a collection of entrepreneurs willing to start new businesses. For that to occur, citizens must be able to learn business skills.