The entrepreneurial mind set profile of South African small medium and micro enterprises (SMMEs) in the Cape Metropole

Abstract

According to the South African National Small Business Act No. 102 of 1996, small medium and micro enterprises (SMMEs) are classified as separate and distinct business entities, together with its branches or subsidiaries with the main intention of uplifting the national economy. McGrath and MacMillan (2000) averred that an entrepreneurial mindset, which comprises of elements such as the passionate seeking of lucrative opportunities, being goal orientated, being very disciplined and incubating a strong personal inner-drive, is of utmost importance for any business to make ends-meet in today’s economy. Despite the afore-mentioned, South African SMMEs showed a dismal performance when taking the South African inflation- and unemployment rates into account. The perception was formulated that an adequate entrepreneurial mindset is a pre-requisite for SMMEs to attain success. The key objective of this paper was to determine the entrepreneurial mindset of South African SMMEs in general.