Lack of market access still a big concern, some black-owned businesses tell govt
This is the latest to emerge from a poll conducted during the Black Industrialists Conference in Sandton.
Minister of Trade and Industry Ebrahim Patel briefs the media on the Black Industrialists and Exporters Conference on 18 March 2024. Picture: GCIS
JOHANNESBURG - Some black-owned businesses have told government that a lack of market access remains a big concern as firms vy for a larger stake in the economy.
This is the latest to emerge from a poll conducted during the Black Industrialists Conference in Sandton.
The second annual event is part of a long-standing initiative to provide support to previously disenfranchised business owners.
Concentrated markets where existing, dominant firms are still believed to limit entry for new players.
Trade and Industry Minister Ebrahim Patel said that this meant fewer customers for black businesses.
Patel said the poll was a change in tone from the years before.
"In the past, they have always chosen financing but as our financing programmes has begun to work, black industrialists themselves start to focus on market access."
More than R200 billion in procurement pledges has been made.
"What that does, it gives black businesses and black industrialists a sense of constant orders, strong market demand and that can be translated into support from your bankers and your suppliers of raw material."