Structure of economy makes it difficult for entrepreneurs to succeed: Ramaphosa
Deputy President Cyril Ramaphosa says government realises that it sometimes makes it hard for small businesses to thrive.
Ramaphosa launched the 2016 South African Chapter of the Global Entrepreneurship Week in Sandton - a gathering of innovators and entrepreneurs.
Ramaphosa says the way the economy is structured, makes it difficult for entrepreneurs to succeed.
He says a lot of work needs to be done to foster a more enabling environment for small business development.
"Costs of entry are high. Anti-competitive behaviour is also widespread and as government we recognise that we may unwittingly reinforce this market dominance through bureaucratic inefficiency and costly regulatory requirements," says Ramaphosa.
Ramaphosa believes entrepreneurs are the key to unlocking Africa's potential.