The purpose of the study was to determine the perceptions of small, medium and micro enterprise\r\n(SMMEs) owners regarding the implementation of the New Companies Act. A quantitative approach was\r\nfollowed in the study where data were collected via structured questionnaires on a sampled of 335\r\nSMME owners from various provinces. The results indicate that most of the participants are not aware\r\nof the companies Act and its compliance requirements. It further emerged that no consultation and\r\nawareness made by the government or its agencies when the phasing out of close corporations was\r\nmade. It was found that there are different perceptions on the implementation in terms of qualifications\r\nlevels. It is thus recommended that prior to the implementation of the Act, a thorough consultation and\r\nawareness be made to the businesses. Finally, it is recommended that sensitisation workshops be\r\nconducted among SMME owners to ensure that the business owners have full understanding of the\r\nAct so that they are able to comply with its provisions.
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