Make a dedicated effort to support a small business this coming Friday, the 6th of September 2013, and win a prize. Not that kind of a prize, but an accolade for setting South Africa towards becoming a winning nation. Simply put: Make thing happen.
This is a message coming out of Nedbank and its partners as the banking group drums up the second installation of its Small Business Friday, a campaign launched last year.
In a statement released yesterday, Nedbank said Small Business Friday is a symbolic day for everyone, from consumers to large corporations, to support small businesses. Started in association with the National Small Business Chamber (NSBC), Nedbank said the initiative has gained much support over the past year.
Nedbank Retail and Business Banking executive Ingrid Johnson said “This year we are once again encouraging the people of South Africa to stand behind our country’s small businesses and the hardworking individuals who make them what they are and to support a small business actively in their community on the day”. She said the small-business sector is considered the engine for economic growth in South Africa as an estimated 2,8 million small and medium enterprises contribute between 52% and 57% of gross domestic product (GDP), providing approximately 61% of total employment.
“Our ability to achieve sustainable economic growth is highly dependent on the success of our country’s small businesses. Starting a business is an avenue of independent wealth creation that is open to a broad and diverse part of the population – but to succeed these entrepreneurs need all the support we can give them, hence our call to Vote Small Business”, said Johnson.
Nedbank said for the consumer, this could simply mean shopping at a local small business, or promoting it to friends and colleagues. To this end the nation is requested to utilise social media platforms using #VoteSmallBusiness to spread the word. For larger business, supporting small business could be a matter of reviewing procurement practices, minimising red tape and ensuring prompt payment to their small business suppliers.
Nebank said small-business owners also have their role to play. By actively participating in the day, they can drive awareness beyond Small Business Friday; so that Vote Small Business becomes an everyday cause.
Nedbank said it was leading by example. “Nedbank continues to invest in this segment and today announced the early findings of the Nedbank Small Business Index, the first to provide a comprehensive and robust assessment of the challenges faced by small business. Nedbank also procured goods and services from 3 100 small and medium enterprises in 2012 to the total value of R2.8bn and is the first signatory to the NSBC Prompt Payment Code, thereby making a public commitment to pay smaller businesses in line with clearly defined terms and within 30 days”.
Mike Anderson, founder and CEO of NSBC, comments “We are excited to see a similar trend in South Africa. With the support of corporates such as Nedbank and consumers at large, Small Business Friday has the potential to make a real difference to this important sector of our economy”.
We are asking you to Vote Small Business – vote with your feet, heart and wallet. Always think of a small business in your community when planning to buy goods and services, not only on 6 September but every other day”.