The Department of Small Business Development has reminded the public to submit comments on the Draft South African Small, Medium and Micro Enterprises (SMMEs) and Co-operatives Funding Policy, as the deadline approaches.
The draft policy proposes 17 critical interventions that will enable the estimated 3.2 million SMMEs and 43 000 cooperatives in the country to thrive.
These interventions include addressing fragmented financial support mechanisms, consolidating a database of small businesses, improving access to start-up capital and increasing business development support.
The draft policy was published on 14 April 2023 by the Minister of Small Business Development, Stella Ndabeni-Abrahams.
Comments must be submitted within 30 days from the date of publication of this notice.
Late written submissions will not be considered.
The policy forms part of other interventions to support small businesses, including the National Integrated Small Enterprise Development Framework that was approved by Cabinet in 2022.
“Government has prioritised SMMEs and cooperatives’ support because these businesses create the most jobs and provide the most opportunities for people to earn a living,” a Cabinet statement said.
The draft policy has been published in the Government Gazette and well as the website of the Department of Small Business Development on www.dsbd.gov.za
Link to draft policy: http://www.dsbd.gov.za/sites/default/files/Final%20Gazetted%20SMMEs%20and%20Co-operatives%20Funding%20Policy.pdf. – SAnews.gov.za
