South Africa: Small Business Benefits From Covid-19 Economic Recovery Incentives

19 November 2020

The Free State Department of Economic, Small Business Development, Tourism and Environmental Affairs has paid more than R30 million to small businesses in an effort to help them recover from the COVID-19 pandemic and to save jobs.

"In total, R34 677 749 has been paid out to Free State businesses in order to get them back on their feet, saving 741 jobs," the provincial department said on Thursday.

These businesses are beneficiaries of the economic recovery incentives put together by the department. A total of 714 enterprises have been approved for the incentives.

Approvals are as follows:

Risk-Sharing Incentive Scheme - 15

Enterprise Incentive Scheme - 54

Spaza Shops and General Dealers Incentives - 395

Informal Business Support - ( Hawkers) - 250

"The journey back to economic recovery will not be an easy one, but with the help of strategic partners and stakeholders, the department remains committed to finding meaningful and long-lasting solutions to challenges facing our economy and exacerbated by the pandemic," the department said.

In addition, the enterprises will receive assistance with access to markets.

Advertising space will be secured in different media platforms to help businesses recover their lost clientele and find new markets.

"Very few, if any of these businesses, have a marketing budget. They depend on word of mouth, family, friends and churches as a marketing platform. It is our duty to add some spark in small, medium and micro enterprise (SMME) development, if we are to reduce the high mortality rate of SMMEs," the MEC for Economic, Small Business Development, Tourism and Environment Affairs, Makalo Mohale, said.

Enterprises that have applied for the incentives can track their applications by emailing or WhatsApp 060 588 6970 with details of the date of their application and reference number where applicable.

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