Mavuso of BLSA has highlighted the greatest loss in jobs was suffered by the small business sector, calling for reforms in the labour market to be reviewed closely.
On Tuesday, 31 August 2021, CEO of Business Leadership South Africa, Busi Mavuso, penned a piece noting that the Small Enterprise Development Agency’s data revealed that of all jobs lost in the economy, 90 percent were lost within the small business sector. Mavuso pointed out that that the small business sector employed the majority of workers and had been facing immense pressure due to lockdown restrictions.
She further stressed the need to start reducing a flaw in the economic model, being rigid labour laws that have affected small businesses more severely. She also referred back to when former Minister of Finance, Tito Mboweni called for a deeper look at the country’s labour policies, to find out the extent to which they were constraining small and medium enterprises from functioning effectively. Mavuso believes the only escape from these economic crises is a labour market reform.
See the post below.
Small Enterprise Development Agency data show that of all jobs lost in the economy up to the third quarter of last year, 90% were lost within the small business sector, highlights @BusiMavuso2 in her @BDliveSA column. https://t.co/d4GCCLy4qE
— Business Leadership South Africa (@BLSA_Official) September 1, 2021