What is SMEs?
Small and medium-sized enterprises or small and medium-sized businesses are businesses whose personnel and revenue numbers fall below certain limits.
The abbreviation “SME” is used by international organizations such as the World Bank, the European Union, the United Nations, and the World Trade Organization.
Top SMEs In South Africa
1. Cap-H
CAP-H is Paperless HR. It’s a simple, convenient web and mobile-friendly application that automates key Human Capital (HC) processes.
It allows SMEs to implement best practices in HC management and ensure compliance with labor legislation to support sustainability.
2. Element Applications
We are building a mobile-first solution for salons to run their business from the palm of their hand, improve their business efficiency and increase revenue.
We use real-time interactive timelines, financial data, and analytics to provide detailed information at a touch. LILA enhances the client connection with personal profiles, in-app messaging and notifications, and real-time views of which clients are expected next.
3. JinPay
JinPay enables Individual Business Owners and SMEs to seamlessly make and receive cross-border foreign exchange payments. Today we do this by partnering with a local Tier 1 dual-listed Bank that holds the banking license in which we leverage capabilities in order to facilitate transactions for SMEs.
We make it easier for SMEs to make and receive payments as we enable a fully-digital experience end-to-end when making and receiving payments.
4. Create an Optimal Group
At 40%+ of GDP, and 60%+ of employment, small and medium businesses matter. Cash Management is the leading concern for business owners.
FitMoney helps business owners manage their working capital and invest their excess cash. It is a digital treasurer for businesses. For financial institutions, FitMoney improves the conversion rates on sales, creates efficiencies in your delivery channels, and produces a more sustainable client base.
5. AirSME
AirSme is an on demand platform and mobile app that helps small businesses access and compete in the billion Rand tender market by providing instant access to trusted, skilled individuals to attend meetings on their behalf. We believe small businesses deserve equal treatment, access, and opportunities.
6. GetBuild
We solve both eCommerce for emerging markets as well as payments. We have also recently landed 500,000 customers from the largest bank in Africa.
7. Hubble Capital
Hubble is a Software as a Service platform focused on simplifying Business-to-Business trade, through providing Small and Medium Enterprises with one-click access to various integration and other value-added services.
Our focus will be on providing merchants using our online platform access to various financial services.
8. Akiba Digital
Akiba Digital is a data and technology SAAS company focusing on intelligence-enabling solutions.
For SMEs, we enable them to access better financial services, improve their risk score, and keep their businesses financially healthy.
For lenders, we provide alternative credit scoring, OCR capabilities, and services to optimize their lending decisions and automate their lending value chain.
9. Polymagnus
We are a digital communications company helping small businesses look and feel professional with air hub mobile business solutions, it’s a smart and simple mobile landline, business email, and instant messages.
How many SMEs are there in South Africa?
2.6 million
Of the estimated 2.6 million micro, small and medium enterprises (SMEs) in South Africa, about 37% are considered formal.
What is SME size in South Africa?
A comprehensive definition of an SME in South Africa is, therefore, an enterprise with one or more of the following characteristics:
Fewer than 200 employees, Annual turnover of less than R64 million, Capital assets of less than R10 million, Direct managerial involvement by owners.