Why big businesses urgently need to rethink their relationship with SMMES

SOUTH Africa has over 2.5 million small, medium and micro enterprises (SMME5), employing nearly 10 million people.

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Yet, many of these businesses are still viewed by corporates through the narrow lens of CSI or supplier development compliance.

What if we have it backwards? What if it is big business that can no longer afford to underestimate the value and innovation of small business?

The truth is, without meaningful partnerships with the SMME ecosystem, especially in underrepresented and township communities, large companies risk stagnation.

It is time to reframe the conversation around small businesses. SMMEs are not charity cases. They are central to our country’s economic resilience and recovery. These entrepreneurs are resourceful, driven and deeply connected to the needs of the communities they serve.

They move with agility, often doing more with less, and their solutions are often more local, inclusive and relevant. They understand culture and context, and they are embedded in their markets. This is something many large corporations struggle to achieve, even with deep budgets and broad reach.