BY KEDIBONE MOLAETSI

MORE than 35 000 small business across North West has benefited from small business development department thus far. The spokesperson, Cornelius Monama said they will continue to support SMMEs.

“The department will continue to work with various stakeholders to support small businesses. We have also pumped more than R8m to assist. We know that small businesses contribute immensely to the main stream economy.

“We have other entities that we working with. We have SEDA and others. So we urge our small business owners to visit those areas for any assistance,” Monama said.

The department of Small Business Development has been allocated R1.3 billion for the 2016/17 financial year. Monama said of this allocation, 17 percent goes to administration and personnel.

He said the remainder, which is 83 percent goes to the core business of the department, strengthening small businesses and cooperatives.

“The Black Business Supplier Development is allocated R245 million. Cooperatives incentive scheme have been allocated R75 million. For National Informal Business Upliftment Scheme the allocation is R96 million and the Enterprise Incubation Programme is allocated R46 million. For the craft sector, the department has allocated R10 million.

“The department has allocated R634 million to the Small Enterprise Development Agency (seda) of which R140 million will go to Technology Support Programme. A R13 million will capacitate in building for small businesses. The Small Enterprise Finance Agency (sefa) has been allocated a budget of R213 million for the current financial year,” he said.

Monama further added that consistent with the undertaking made by Minister Lindiwe Zulu last year, Sefa will approve a further R3.4 billion of loan financing facilities to SMMEs and Co-operatives over the next three years.

North West premier, Supra Mahumapelo said they will continue to support small, medium and micro enterprises especially in rural areas. Mahumapelo said they targeted the SMMEs sector as an economic empowerment vehicle for previously disadvantaged people.

“SMMEs will receive significant attention and investment. This will range from establishment of state-initiated projects. We will provide necessary skills to village business owners. We have already implemented village developmental programme,” he said.

-TDN

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