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Organisations want Finance Minister to speak on SME's on 2025 budget

Organisations want Finance Minister to speak on SME's on 2025 budget


Published on 2025-02-22 10:20:49 - eNCA
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  • On Wednesday, Finance Minister Enoch Godongwana planned to announce an increase of 2 percentage points in VAT during the 2025 budget speech. However, objections within the Government of National Unity forced the minister to delay his speech. Critics argue that increasing VAT would come at a dire human cost, especially for the poor.

The article from MSN discusses the expectations and demands from various organizations for South Africa's Finance Minister, Enoch Godongwana, to address the needs of Small and Medium Enterprises (SMEs) in the upcoming 2025 Budget speech. These organizations, including the National Small Business Chamber (NSBC) and the South African Chamber of Commerce and Industry (SACCI), are pushing for policies that would alleviate the financial burdens on SMEs, such as reducing red tape, providing tax incentives, and improving access to finance. They argue that SMEs are crucial for economic growth, job creation, and innovation, yet they face significant challenges like high operational costs, regulatory compliance, and limited access to funding. The article highlights the call for government intervention to foster a more supportive environment for SMEs, which could potentially lead to economic revitalization and increased employment opportunities.

Read the Full eNCA Article at:
[ https://www.msn.com/en-za/money/small-business/organisations-want-finance-minister-to-speak-on-sme-s-on-2025-budget/ar-AA1zzLbY ]
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