Small businesses and better risk management

Small businesses are a significant contributor to the South African economy and many believe that they will play a big role in the future growth of the country. Our president, Mr Cyril Ramaphosa, finalised an SME fund in March that is valued at R1.4 billion to support the development of the sector.

As the small business sector develops, it has been interesting to see how the insurance industry has responded and is providing these businesses with risk management solutions that are tailored to their needs.

One of CN&CO’s partners is CIB and in a featured article on the Financial Intermediaries Association of Southern Africa (FIA) website, they discussed “Can we offer better risk management for SMEs?”.

“The biggest risk, however, is for SMEs either to take out too little insurance, or none at all”, writes Janine Wilson from CIB.

Read the full article here.