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Government and the Industrial Development Corporation (IDC) have launched an online portal<\/a>, providing business with easy access to information on government incentives.<\/p>\n IDC\u2019s Head of Development Finance Department Meryl Mamathuba, says the portal gives businesses all the information they need on what is out there to help them sharpen their competitive advantage.<\/p>\n \u201cIt is important to establish sustainable enterprises to boost job creation and to increase the state\u2019s participation in development. Ultimately, the aim is to promote private sector involvement in both the creation of productive capacity and research and development (RD) in the country,\u201d says Mamathuba.<\/p>\n She says the primary benefit for businesses is easy access to information and help.<\/p>\n \u201cBusinesses will no longer have to search through departments for government assistance programmes for their particular needs. It is all in one place. The site is easy to access and navigate.\u201d<\/p>\n The three categories of state incentives, which include grants and tax breaks, include:<\/strong><\/p>\n The first category of incentives is available to private sector businesses that invest in the creation, design and improvement of products or processes.<\/p>\n There are eight sub-categories:<\/strong><\/p>\n The capital expenditure category offers incentives to companies that want to acquire or upgrade assets to establish or expand their capacity.<\/p>\n These are incentives for:<\/strong><\/p>\n Competitiveness enhancement incentives are designed to increase competitiveness, sustainable growth and development in specific sectors.<\/p>\n These are incentives for:<\/strong><\/p>\n \u201cIt is important that businesses take advantage of these incentives to maximise their competitiveness both locally and beyond,\u201d says Mamathuba.<\/p>\n The website address is: www.investmentincentives.co.za<\/a><\/p>\n\n
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