Bizcommunity: The job-generating, economy-boosting benefits of franchising

South Africa’s National Development Plan (NDP) expresses an important aspiration: by 2030, 90% of all jobs should be created by small, medium and micro enterprises (SMMEs).

While 60% to 70% is the international norm, according to South Africa’s first baseline study on SMMEs conducted by the Small Business Institute in 2016, 98,5% of all registered businesses in the country were SMMEs and yet they created only 28% of jobs.

Therefore, in order to achieve the NDP target of 6% unemployment and 11 million jobs by 2030, South Africa needs 49,000 SMMEs growing at a rate of 20% a year.

A daunting target, but one sector that may help achieve this is the franchise sector.

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by Bizcommunity – https://www.bizcommunity.com/Article/196/173/195397.html