Moreover, looking ahead, the National Development Plan projects that, by 2030, no less than 90 per cent of new jobs will be created in small and expanding firms. Small business, furthermore forms part of the backbone of a thriving society. In order to survive, it has little choice but to be versatile, innovative and entrepreneurial as SMMEs seldom have a monopoly.
Recent developments in financial markets, such as the temporary closure of the covered bond market, point to a further tightening in liquidity and reinforce the view that there is still some way to go before we see a return to more normal market conditions.