Almost 5 000 SMME jobs boosted with R 85 million in funding since 2019
17 April 2024
Small, Medium and Micro-Enterprises (SMMEs) are essential to any economy and the driving force behind economic growth and job creation. To enable the growth of these engines of our economy, the Western Cape Government’s (WCG) SMME Booster Fund has assisted over 950 SMMEs, sustaining 4 977 jobs, dedicating R85, 5 million to this essential boosting since 2019.
“The fact is that we need SMMEs to succeed because we know that small businesses are the backbone of our economy and are responsible for up to 70% of jobs in South Africa. As the driving force of job-creation in any economy, one of the WCG’s key priorities is to back entrepreneurs and small businesses, to create an enabling environment and to make it much easier to do business in the Western Cape. This is more than just simply allocating funding. Our SMME Booster Fund assists businesses with bespoke support, helping to remove barriers to the growth of women-, youth-, and township-owned businesses, as well as SMMEs developing exports” said Minister of Finance and Economic Opportunities, Mireille Wenger.
“Applications for the 2024 SMME Booster fund will open in May 2024 and I look forward to sharing more information on the latest iteration of the fund soon,” continued Minister Wenger.
“I had the pleasure of meeting with one of the many beneficiaries of the SMME Booster fund recently, Mr Imtiyaaz Riley, of Loop Transport (https://www.looptaxi.co.za). Loop Transport is a fantastic example of how the digital, township, informal and formal economies are intricately linked. The business provides commuters and public transport drivers with a platform to interact, facilitate cashless payments, and plan and monitor trips. After receiving digitisation services, marketing and promotion support through our intermediary organisations, as well as an inverter to keep operating when Eskom turns the power off, Mr Riley has been able to grow his business from 3 employees, to 13 employees, in just three years,” Minister Wenger explained.