Only a quarter of South African small and medium-sized companies do business with government. Fears of red tape and delayed payments are discouraging entrepreneurs from engaging with government, according to a report. Here are tips to make the process a bit easier.
This is according to the South African Institute of Chartered Accountants (SAICA)'s 2016 SMME Insight Report. The report found that 90% of the SMEs surveyed conducted less than 10% of their business with government at any level. Some 72% do not deal with government at all.
The Preferential Procurement Regulations, which took effect last year, offers new opportunities for SMMEs to participate in the government procurement process.
