SA small businesses are resilient despite major challenges

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SA small businesses are resilient despite major challenges
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The SME market seems to be viewed as a homogeneous entity while it should be seen as different segments. Moneyweb

Most small businesses have adjusted to load shedding and several other challenges that are unique to South Africa, and are able to handle way more than similar businesses in other parts of the world. However, the small and medium-sized enterprise market is still fragmented and businesses do themselves no favours by operating in a fragmented and disjointed manner, says Colin Timmis, country manager for cloud-based accounting software company Xero.

New technology The issue is not whether people are ready for new technology. The issue is whether the technology is built with the end user in mind. Traditionally accounting and tax software was built for the accountant or tax practitioner, says Timmis. “This caused a separation between them and the SME. This has now changed.

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