The United Nations established today (27 June) as Micro-, Small and Medium-sized Enterprises Day to raise public awareness of small business contribution to sustainable development and the global economy.

According to the data provided by the International Council for Small Business formal and informal Micro-, Small and Medium-sized Enterprises make up over 90% of all firms and account, on average, for 70% of total employment and 50% of GDP https://www.un.org/en/observances/micro-small-medium-businesses-day

In South Africa SMME’s contribute just over 50% to the national GDP, provides 60% of the jobs to the market and represents 40% of remuneration. The medical and healthcare sector represents a large component of small businesses – practicing medical professionals, including doctors, dentists, veterinarians, pharmacists, allied health professionals, medical workers and medical manufacturers – all represent SMME’s.  Not only do they fulfil a very important role in the health and well-being of our population, they also contribute significantly to SA’s health economy. 

In his World SMME message, MediCoop MD, Theuns Botha, says “MediCoop is committed to support healthcare SMME’s. It is our aim and objective to provide dedicated finance and support services to small healthcare enterprises, so as to grow the space for emerging entrepreneurs to thrive and grow the economy. Through our co-operative structure of co-ownership we create more value than only competitive transactions – we create passive income and asset growth as well.  The former, very successful and popular MLS Bank, was established on the same principle.

 

*Content provided by MediCoop