Why are Local Businesses so Important?

Small, Medium, and Micro Enterprises (SMMEs) are one of South Africa’s economic lifelines. Indeed, contribute almost 40% of South Africa’s GDP, and around 60% of its workforce. This places South African business in a crucial position. The National Development Plan also predicts the importance of local business in future. South African businesses are likely to generate 90% of new jobs by 2030.

It’s clear that the government recognises the importance of supporting local business. For South Africans, it’s an excellent opportunity for much economic growth. But why should you make the contribution?

Local Business Tends to Care More

For smaller local businesses, larger engineering projects take up most of their resources. There are large staff, billing, and equipment contributions made to the project. This means that the company is closely focused on making the project happen, and getting it right.

Larger local and international firms run one among many simultaneous projects. As such, each project will receive less attention in total from the company. It’s important to note the differences. Large firms have almost no principal involvement. But, a smaller South African business will provide significant principal involvement.

South African Businesses Better Understand Needs

Office equipment on table

Small, medium, and micro businesses serve as a critical part of the South African economy. They make up roughly 40% of the country’s total GDP.

Many international firms boast a broader range of expertise and resources to use. But, South African businesses are often more effective with the same project. They usually have a better understanding of local laws, needs, and engineering standards.

This fact often makes the difference in the success of a project. You may end up facing massive delays and mistakes when using international companies. But a reputable local business can get the job done more efficiently. This while meeting the criteria of the job.

Supporting South African Business also Supports the Local Community

Businessman Thumbs Up

By supporting local business, you are encouraging growth in the local community as a whole. This then has further benefits for our economy as a whole.

When you spend your money locally, more of that money remains within SA and the local community. This is a boon to local businesses that receive larger projects. In the long run, this results in a gradual strengthening of that community over time.

Additionally, this means that locals are more likely to buy each other’s goods and services. The further upside of this is that the national economy will see massive growth over time. You can make it worth your while by using a South African business that is both local and reputable.

Retention of Skills and High-Paying Jobs

A problem within South Africa is the loss of technical skills. Emigration and poor education are some leading causes of this phenomenon. But, supporting South African businesses is an effective way to deal with this.

By supporting local businesses, we can effectively reverse this trend. As a result, the retention and growth of high-paying jobs will occur. This will further assist local communities, and the national economy, as well.

Facet Engineering – A Preferred South African Business

Facet Engineering embodies much of what makes for an excellent local business. As one of the leading South African businesses, we value local investment.

For further queries, contact Facet Engineering today. We are ready and eager to assist you.