Many South African start-ups are heading overseas. Funding and regulatory issues can strangle South African start-ups, according to the acting deputy director-general of the Department of Small Business Development. For her, that was more forthcoming in the United Kingdom than it was in South Africa. He added that South Africa's tax policy and regulations for businesses were "strangling the start-ups that are wanting to scale in South Africa". Rwexu said she was optimistic that the discussions surrounding start-up support in South Africa were encouraging and said that she was optimistic about the future of the sector in South Africa.

Source: News 24 September 14, 2023 12:09 UTC