Stamp Duties Act, 1968 (Act 77 of 1968)
R 385
Competition Act, 1998 (Act No. 89 of 1998)RegulationsBlock Exemption Regulations for Small, Micro and Medium-Sized Businesses, 20242 - 4. Background |
| 2. | The Covid-19 pandemic has affected many sectors in the economy, with some sectors showing gains whilst other shrinking. The consequent economic decline threatens job losses across the economy, in some of the most vulnerable areas of the country and may result in the exit from the market of a significant number of players. |
| 3. | SMMEs have also been negatively affected by the pandemic as value chains were severely disrupted and consumers shifting to online purchases. The Commission's recent study on Measuring Concentration and Participation in the South African Economy: Levels and Trends also shows that the share of SMMEs on the countries' aggregate income is comparatively low and declining. |
| 4. | In response to the economic consequences of the Covid-19 pandemic, government developed the Economic Reconstruction and Recovery Plan (ERRP) which maps out interventions aimed at promoting inclusive growth and employment in the domestic economy. These Regulations seek to complement the ERRP and other initiatives. |
