Job Creation Versus Job Shedding and the Role of SMEs in Economic Development
SMEs have historically played an important role in contributing to economic development of many countries around the world. Naturally all businesses start as small businesses or even start out of small businesses initiated by individuals. Evidence from this study shows that SMEs represent vast portion of businesses in developing countries including South Africa. In South Africa, SMEs account for about 91% of the formal business entities, contributing to about 51 and 57% of GDP, providing almost 60% of employment.