Western Cape Government to launch R16 million SMME Booster Fund
One of my key priorities is to back entrepreneurs and small businesses, who are the engines of our economy. As a part of our plans to do this, I am pleased to announce that applications for the SMME Booster Fund 2022 will open this Thursday, 26 May 2022.
The fund will distribute R16 million to selected organisations, which deliver training programmes on Business Development Support and Access to Markets, for SMMEs.
Managed by the Western Cape's Department of Economic Development and Tourism, the SMME Booster Fund 2022 aims to enhance the sustainability of rural, urban, township-based, youth, people with disabilities and women-owned SMMEs based in the province.
Since the first iteration of the SMME Booster fund in 2019, the Fund has allocated R59 million in funding and supported 730 SMMEs in the Western Cape.
To mark the countdown to the launch of this exciting initiative, this morning I visited Owen Mdledle, owner of Baphumelele Fountain of Hope Farm in Philippi, who was one of the past beneficiaries of the SMME Booster Fund.
In 2019 and 2021, the Association for Savings and Investment South Africa (ASISA) received funding from the SMME Booster fund. With this funding they ran the Financial Literacy and Micro Enterprise (FLAME) Programme which offers business support to businesses with a turnover of less than R1million.
Through this programme, made possible by the SMME Booster Fund, Mr. Mdledle, received financial management, business strategy, market development training, mentorship, and coaching. This was provided monthly over a period of eighteen months.
The SMME Booster Fund is just one of the many ways that we are supporting small businesses in the Western Cape.
I was also very pleased to visit Mr. Saliem Williams, the owner of Lekka Pies in Mitchell's Plain, who received assistance through our dedicated Red Tape Reduction Unit.
Mr. Williams contacted the Business Support Helpline Service to request information around funding opportunities that could save his business. Within 24 hours, our unit connected Mr. Williams with the support he needed for his business to survive in collaboration with SEFA.
I know that it is our job to make it easier for the private sector, especially small businesses, to create jobs. I am determined to ensure that this happens.
With targeted support programmes, and by making it easier to do business in our province, we can help our entrepreneurs to be the great success we all know they can be.