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The Western Cape has the highest labour absorption rate in the country, with 2.26 million people being employed. This according to Tim Harris, CEO of Wesgro, at a conference by the Afrikaanse Handelsinstituut (AHI). 

He emphasised the importance of both small and medium enterprises in the South African economy, and added that JSE-listed companies are significant employers. Close to 91 000 people are running businesses in the Western Cape with a turnover of less than R1 million per annum. 

South Africa is ranked 16th globally with regard to new business density. 

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