Small Business Development Minister Stella Ndabeni-Abrahams told a mini plenary of the National Assembly last week that there would be better funding opportunities for small and medium businesses.
A recent study revealed that 56% of the respondents reported that they used the PEST (Political, Economic, Social and Technological) analysis model on their business and that 89% of them conducted a financial analysis of their businesses.
The Act is aimed at addressing the legacy apartheid left on Gauteng’s townships and is meant to open up new procurement and market opportunities for township businesses.
SEDA acting CEO Nkosikhona Mbatha said the agency had set aside R902-million for its various programmes and interventions in a bid to ramp up support for SMMEs and cooperatives.
Small Business Development Minister Stella Ndabeni-Abrahams also encouraged SMMEs to highlight the various challenges they faced when dealing with government processes.