With Minister of Finance Tito Mboweni’s mini-budget speech still resonating and giving some hope with his call that ‘together, as a country, we can rebuild and recast our future... and choose a path that takes us to faster and more inclusive economic growth and strengthens private and public sector investment,’ the Franchise Association of South Africa (FASA) signs a Memorandum of Understanding (MOU) with the Small Business Institute (SBI).
According to Vera Valasis, FASA’s Executive Director ”the collaboration with SBI will provide FASA with an official ‘voice’ to be represented and lobby through the SBI at BUSA level on business related issues that arise on a regular basis. We hope our involvement with both the SBI and BUSA will help strengthen the voice of small business and franchising in particular to government.”
The Franchise Association of South Africa (FASA) has a proud 40 year history of nurturing entrepreneurship through the franchise business system and oversees an industry that today boasts 865 franchise systems, over 40 000 small businesses employing close to 400 000 people and contributing R721 billion equivalent to 15,7% of the total South African GDP.
“Through a wide range of socio, economic & political challenges over the past four decades,” says Vera Valasis, Executive Director of FASA, “franchising has continued to make an important contribution to the economy. We want progressive leaders in government such as President Cyril Ramaphosa and Minister Tito Mboweni, both with impeccable business credentials, to recognise that the franchise sector has and can continue to play a crucial role in entrepreneurship, skills transfer and job creation. We recognize the importance of the business community rallying together to ensure that with strength in numbers, it can grow to benefit all in our country. To this end, FASA has embarked on a number of collaborations with like-minded institutions and organisations like SBI – with the express intention of playing our part along that road of prosperity and opportunity that Minister Mboweni has chosen.”
FASA, whose members are franchisors, franchisees, professional service providers, product suppliers and individuals and whose mission is to promote ethical franchising and the SBI, a non-profit (NPO) organization constituted to promote the economic and business interest of its more than 100 chamber organization members and thousands of SMEs in the wider economy, share a common goal and look forward to collaborate in the following areas of mutual interest:
- Government and other stakeholder lobbying
- Dissemination of industry information
- Reciprocal promotion of industry events
The SBI is a member of Business Unity South Africa (BUSA) and stand for
} Market-led job creation
} Inclusive economic growth
} Transformation and
} Ethical leadership
For SMME’s, one of the biggest challenges and obstacles to overcome and boost economic growth, is the regulatory environment. Winda Austin-Loeve, SBI President, says influencing the regulatory environment through the SBI’s representation on BUSA is one of the main reasons for the MOU between the SBI and FASA. “The SBI will lobby on a national level on behalf of all its members and partners in an attempt to get legislation and regulations passed that create a favourable and friendly climate for SMME’s to build and grow long-term sustainable businesses that will ensure job creation and economic growth.”