Assessing the drivers of growth for small business in Gauteng.

Abstract

ABSTRACT Micro and small business development has been highlighted as a key area to drive the South African economy forward. The need to encourage micro and small businesses is essential in curbing South Africa’s high unemployment rate. Micro and small businesses can offer individuals an opportunity to become economically independent while at the same time contributing to the South African economy. Johannesburg is the capital of Gauteng, the wealthiest province in South Africa. It is widely recognized as the heartbeat of the South African economy and is a key location in ascertaining the factors required for all types of businesses to develop. The city provides a platform for existing entrepreneurs to grow their businesses and new entrants to enter the market, due to the volume of trade that is conducted in this geographic area on a daily basis. This research report seeks to identify some of the factors required for micro and small business growth in Johannesburg, The research methodology used for this study was qualitative analysis, in order to identify the factors required for micro and small business growth in Johannesburg. The data was collected by interviewing business owners in the micro and small business sectors. A significant finding was that there are certain factors responsible for micro and small business growth. These factors are used in different combinations to achieve the business’ desired outcomes.