Small Business as Economic Development

“Rupert saw the country’s future as lying not in mass production, but in production by the masses – as had happened in South Korea and was also the case in Italy.”

“He pointed out that about five million small enterprises in Japan employed 80% of workers in the private sector. With reference to these statistics, he said: ‘To create jobs one must think small.’ He proposed the creation of a small business development corporation with a ‘multiracial’ board of directors and starting capital of R100 million, half of it provided by the state. ‘I shall personally propose to my Group that we contribute one tenth, that is R5 million, of the private sector’s R50 million to such a corporation.’13 Money alone would not solve the problem – small business also had to be promoted through investments in training and aftercare of new entrepreneurs. He proposed that the state provide a further R2,5 million for initiatives of this nature.”