After assisting more than 950 small, medium and microenterprises (SMMEs) across the Western Cape, sustaining 4 977 jobs, and contributing R85.5 million (4.1m) since 2019, the latest window of the SMME Booster Fund is now open for applications.
SMMEs are the lifeblood of our economy, fuelling up to 70% of jobs in South Africa. Put simply, when SMMEs succeed, we all succeed. That's why the Western Cape Government (WCG) is passionately committed to helping entrepreneurs and small enterprises to establish and grow, by creating a vibrant and inclusive business environment, making it easier than ever to thrive in the Western Cape, said the Provincial Minister of Finance and Economic Opportunities, Mireille Wenger .
Premier Alan Winde added: Starting a business can seem overwhelming. But through our SMME Booster Fund, we can guide new business owners on their journey to success. For existing businesses, the fund can help them expand and grow. With every business that accesses this fund, we can all help to create even more jobs and unleash the full potential of the SMME sector and economy.
Minister Wenger continued: Our work goes beyond just funding. Through our SMME Booster Fund, we provide specific support that empowers businesses to break down barriers and achieve remarkable growth. We're especially proud that, through our contributions, we can help women, youth and township-owned enterprises.
The 2024 SMME Booster Fund will dedicate R9 million (437905) in funding support to SMME business development through capacity building, coaching, mentorship, and the acquisition of technical support (machinery, equipment, software, digital tools and more) in the following categories:
