Small business owners are often indifferent to the launch of the National Budget, thinking that is it something that mainly concerns big entities with multimillion rand annual turnover. But they need to be alert as changes to the National Budget equally affect them, according to Heather Lowe, Head of Enterprise Development at FNB Business.
Lowe said the budget speech provides insight of developments that are likely to impact on their operations in some way, more especially from a regulatory and economic point of view. He emphasised: “Over the years, significant regulatory amendments have been made during the budget speech, therefore, every small business owner should make time to familiarise with the contents of the National Budget.”
He mentioned the following areas of interest for small businesses: tax policy; incentives from the Small Business Development Department; National Development Plan updates which, directly and indirectly, affects them; infrastructure investment, as well as procurement.
