The Department of Economic Development and Tourism has announced it has launched its 2023 Small, Medium and Micro Enterprise (SMME) Booster Fund, to date a successful initiative.
Western Cape Minister of Finance and Economic Opportunities Mireille Wenger said: “SMMEs are the backbone of our economy, contributing significantly to both economic growth and job creation in the Western Cape.
“This is why I am very proud of the fact that since the first iteration of the fund in 2019, the SMME Booster Fund has assisted 860 SMMEs, sustaining 4 977 jobs. The Booster Fund has helped these SMMEs grow, creating an additional 651 jobs.”
The SMME Booster Fund provides support to interventions that include projects and programmes implemented by organisations and/or municipalities that are geared towards supporting SMMEs based in the Western Cape.
The fund will focus specifically on support projects and programmes aimed at growing and developing SMMEs in the following categories:
. Exporter development. Women-owned businesses. Youth-owned businesses. Township-based businesses
The fund uses a co-funding implementation model that encourages collaboration and partnerships, and will focus only on the technical support aspect of the project or programme.
The roll-out of other aspects such as training, mentoring, coaching, access to market interventions will be funded by the organisation applying for funding.
The minister continued: “The Western Cape Government takes its role in creating an enabling environment for SMMEs to thrive in seriously.
“We also understand just how difficult the current climate is for small businesses, especially due to ongoing load shedding, compromising the ability of all businesses, big and small, to trade.”
Applications close on 11 July 2023 at midnight, and all information on how to apply as well as the relevant documents can be found at https://www.westerncape.gov.za/general-publication/smme-booster-fund-2023
“I strongly encourage qualifying organisations to apply to the SMME Booster Fund so we can help sustain and grow businesses in the Western Cape, which will help create many more jobs in the Western Cape.”
