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MSME Day highlights vital role of small businesses

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Micro, Small, and Medium-sized Enterprises (MSMEs) play a vital role in an economy, particularly in providing necessary goods, services, and employment opportunities for citizens.

On MSME Day, Danny Meyer, Director of SMEs Compete, addressed the importance of government officials being more supportive of the SME sector.

Meyer emphasizes that these smaller businesses are crucial for job security and national wealth. However, bureaucracy and a lack of communication between government departments and ministries often hinder their operations and prevent them from thriving.

Small business profit margins narrow

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The festive season is one of the most anticipated periods of the year, which also comes with an appetite for shopping.

Small business owners spoke to nbc's Luqman Cloete about consumer spending during the festive season.

Maria Ndifikepo, a small business owner, explained that business was booming at the beginning of the festive season but has somewhat slowed down.