Creating and growing sustainable businesses is the only way to create the jobs our country needs so desperately. It’s also the way to help a critical foundation of the economy become more dynamic and resilient.
Small, entrepreneurial businesses are recognised as the engines of economic growth and job creation worldwide. Our own National Development Plan aims to see such businesses provide 90% of the country’s jobs by 2030—but we are making scant progress towards achieving that goal. Globally, SMEs provide 50% of jobs, with formal SMEs contributing up to 40% of gross domestic product.  Here, however, they account for only 28% of jobs. 
All of this comes into sharp focus in the steel industry. Because its product is essential to all industries, an underperforming steel industry impacts the whole economy. One direct job in the steel industry creates 13 jobs across its supply chain. And because steel is used in so many other industries, it also indirectly supports job creation beyond the steel industry itself.