Government improves access to finance for SMMEs

The Department of Small Business and Development has announced funding instruments for small, micro and medium enterprises (SMME).

The fund will see 100,000 young entrepreneurs take their businesses to new levels with funding from the Small Business and Innovation Fund.

Minister Khumbudzo Ntshavheni explains the improvements in the funding instruments.

We have introduced that now our services will be available in municipal offices at the LED [local economic development] units in municipalities.

Khumbudzo Ntshavheni, Minister - Small Businesses Development

We have also introduced a common application form, although it is still a bit difficult we continue working on it.

Khumbudzo Ntshavheni, Minister - Small Businesses Development

The minister adds that funding instruments will also deal with red tape and turnaround time for feedback on applications.

You will now get feedback in two days on your applications in case there are missing documents.

Khumbudzo Ntshavheni, Minister - Small Businesses Development

Listen to the full interview below...


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