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Entrepreneurs can use these summits to elevate their businesses beyond local constraints.
Picture: iStock
South Africa will be flooded with heads of state and government from the world’s largest economies in November for the G20 and B20 summits.
This presents an opportunity for the country’s tourism sector to directly benefit from these gatherings, and most importantly, it is time for small and medium enterprises (SMEs) to take advantage of this growth opportunity.
The G20 summit is an annual meeting of heads of state and government from the world’s largest economies, along with the European Union and the African Union, to discuss and coordinate on pressing global issues.
The B20 serves as a platform for dialogue among policymakers, civil society, and businesses at the international level.
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How SMEs can benefit
David Morobe, executive general manager for Impact Investing at Business Partners Limited, says entrepreneurs can use these summits to elevate their businesses beyond local constraints.
“The summits offer the country’s entrepreneurs a once-in-a-generation opportunity to engage with influential decision-makers, forge cross-border partnerships, and position their businesses for international growth.”
He is of the view that SMEs in the country already embody the B20 theme of ‘Inclusive Growth and Prosperity through Global Cooperation’. Morobe highlighted that the B20 provides a platform for the country to showcase how homegrown enterprises are setting standards for inclusive and sustainable growth.
What SMEs need
Morobe says the pressure is still on, despite SME confidence growing in 2025, as entrepreneurs view the economy and government efforts as supportive of growth.
Referring to the latest Business Partners SME Confidence Index, he notes that respondents cited cash flow, economic conditions, and limited funding as the top barriers.
“To overcome these, 86% of SMEs say access to finance is critical, 85% need targeted business resources, and 83% highlight the importance of mentorship.”
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New Act for SMEs
Morobe notes that the introduction of the National Small Enterprise Amendment Act is a step in the right direction, but unfortunately, it is not enough.
The Amendment aims to simplify access to both financial and non-financial support by reducing bureaucratic hurdles.
He calls on the private sector to play a role in providing the capital, mentorship, networks, and exposure that entrepreneurs need to succeed.
Entrepreneur of the Year Awards
Entries for the 37th annual Entrepreneur of the Year Awards have opened and will close on 31 August 2025.
The awards aim to identify and support South African individuals who run successful SMEs.
“The awards are open to owners of SMEs across three categories: Emerging Entrepreneur, Small Business Entrepreneur, and Medium Business Entrepreneur.
“Five finalists will be selected in each category, with the finalist who makes the most contribution to employment and skills development in the country being awarded the Job Creator award.”
Winners will be announced at an awards ceremony at the end of October 2025 and share in R2 million worth of prizes, including cash awards, mentorship, technical assistance and business exposure opportunities.
Entrepreneurs interested in participating can enter at www.eoy.co.za.
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