Tax and other incentives to small, medium, micro enterprises in South Africa.
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Date
2004
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Abstract
The promotion of Small, Medium and Micro enterprises (SMMEs) has
been identified as key strategy of government for employment
creation and income generation. For some time now small business
owners had to fend for themselves. Small business was neglected
and was in the main ignored by government. Since the 1994
democratic process the challenge for the new order has been to
create an enabling environment for the small business sector of the
economy. The historical neglect and the consequent policy vacuum
has had to be re assessed. To this end the 1995 White Paper on a
National Strategy for the development and Promotion of Small
Business in South Africa was the first major effort by government to
design a policy framework targeting the small business sector.
The promulgation of the Small Business Act in 1996 and the
establishment of the Ntsika Enterprise Promotion agency under the
aegis of the Department of Trade and Industry has attempted to
provide direction and facilitate the provision of Non Financial support
to the Small Business Sector. Various incentive schemes have been
developed and put into operation together with a range of tax
incentives to help promote Small Business. Eight years have passed
since the promulgation of the Small Business Act and the perception
that finance for SMMEs has been the greatest stumbling block to
development. However the failure of the vast numbers of micro
lending agencies have revealed that low levels of entrepreneurship
has led to their demise.
The provision of meaningful positive incentives need to be measured
and their effectiveness needs to be tested. This study will try and
identify the incentives available.
Description
Thesis (M.Com.)-University of KwaZulu-Natal, 2004.
Keywords
Tax incentives., Small business--Taxation--South Africa., Theses--Accounting.