By Madelein Kleyn
South Africa does not invest in procuring accurate statistics on small businesses in South Africa, making it difficult to find the exact number of companies that operate in the country. SEDA issued a broad statistical overview of the SMEs of South Africa in January 2016 and presented the following indicators. According to the Banking Association of South Africa in South Africa, small and medium-sized enterprises make up 91 percent of formalised businesses, provide employment to about 60 percent of the labour force and total economic output accounts for roughly 34 percent of GDP.
