SME confidence is climbing in 2025, with more business owners viewing the economy and government efforts as supportive of growth. But the pressure isn’t off. The latest Business Partners SME Confidence Index shows cash flow, economic conditions, and limited funding remain 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.
Policy changes are underway, but private sector support remains crucial
The government has introduced the National Small Enterprise Amendment Act, which aims to simplify access to both financial and non-financial support by reducing bureaucratic hurdles. “This legislation is a step in the right direction,” says David Morobe, Executive General Manager for Impact Investing at Business Partners Limited. “However, policy on its own won’t be enough. The private sector must play a role in providing the capital, mentorship, networks, and exposure that entrepreneurs need to succeed.”
Supporting SMEs to build stronger local and global footprints
The 37th annual Entrepreneur of the Year® Awards, open from 1 July 2025, is one platform that seeks to identify and support South African individuals running 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. Depending on entries received, an Innovator of the Year award can be conferred to a finalist who has introduced an innovative product or service to the market.
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.
“The businesses that get shortlisted for the Entrepreneur of the Year® Awards represent the excellence and resilience of South Africa’s SME entrepreneurs,” notes Morobe. “Their growth and success contribute to the country’s economic growth and open doors to broader markets and investment opportunities.”
Perfect timing for maximum impact
With South Africa hosting the 2025 G20 and B20 summits in November, bringing together economies representing 85% of the world’s GDP and nearly 80% of international trade, this year’s winners will gain unprecedented exposure opportunities.
“At a time when global attention is focused on South Africa, entrepreneurs have a brief but powerful window to elevate their businesses beyond local constraints,” shares Morobe. “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 adds that South African SMEs already embody the B20 theme of ‘Inclusive Growth and Prosperity through Global Cooperation’. “The summit provides a platform for South Africa to showcase how homegrown enterprises are setting standards for inclusive and sustainable growth.”
“With the right support, South African entrepreneurs are ready to lead; not only within domestic markets, but on the global stage,” concludes Morobe. “The Entrepreneur of the Year® Awards are more than a platform for recognition; they’re an investment in the country’s future growth engines. As global attention turns to South Africa, this is a rare opportunity to demonstrate the strength, scale, and ambition of our SME sector. The momentum is here, now we need to match it with action.”
Entries for the 2025 Entrepreneur of the Year® Awards close on 31 August 2025. Enter now at www.eoy.co.za.
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