The Department of Small Business Development (DSBD), in partnership with several other entities, has launched a series of initiatives aimed at boosting small businesses in South Africa. These initiatives come at a time when small businesses are facing unprecedented challenges due to the COVID-19 pandemic.
1. National Informal Business Upliftment Strategy
The DSBD launched the National Informal Business Upliftment Strategy (NIBUS) to assist informal businesses in transitioning to formality. This initiative leverages existing government programs to provide support for small businesses in areas such as training, marketing, and access to finance.
NIBUS focuses on addressing the challenges faced by informal businesses, such as lack of access to capital, lack of skills and knowledge, and limited market access. The initiative aims to promote entrepreneurship, job creation, and economic growth in the informal sector.
2. Black Industrialists Scheme
The Black Industrialists Scheme (BIS) is a financial support program aimed at promoting and supporting black-owned businesses in the manufacturing sector. The program focuses on providing funding to black-owned businesses, particularly startups and early-stage ventures, to enable them to grow and create jobs.
Through BIS, the DSBD partners with local and international funders and investors to provide financial support to selected black-owned businesses. The program also provides capacity building and training to help businesses develop the necessary skills and knowledge to run successful manufacturing operations.
3. Township and Rural Entrepreneurship Programme
The Township and Rural Entrepreneurship Programme (TREP) targets entrepreneurs in townships and rural areas, providing them with support and resources to start and grow their businesses. TREP provides training and mentorship to entrepreneurs, as well as access to markets and networking opportunities.
The program aims to promote entrepreneurship in underserved areas, reduce poverty and unemployment, and stimulate economic growth in these areas.
4. Small Enterprise Development Agency Incubation Programme
The Small Enterprise Development Agency (SEDA) Incubation Programme provides support and resources to early-stage businesses to enable them to grow and become sustainable. The program provides incubation services such as business development support, access to finance, and mentorship.
SEDA Incubation Programme focuses on providing support to businesses in sectors such as manufacturing, agro-processing, and ICT. The program also helps businesses to access markets, network, and collaborate with other businesses in their sector.
5. Youth Entrepreneurship Programme
The Youth Entrepreneurship Programme (YEP) is aimed at empowering young people to start and grow their own businesses. The program provides training and mentorship to young entrepreneurs, as well as access to finance and markets.
YEP focuses on creating opportunities for young people to develop the skills, knowledge, and experience necessary to become successful entrepreneurs. The program also provides access to a network of young entrepreneurs, as well as support and resources to help them overcome the unique challenges faced by young entrepreneurs.
In conclusion, the DSBD has launched several initiatives aimed at promoting and supporting small businesses in South Africa. These initiatives offer support, resources, and training to small business owners and entrepreneurs, enabling them to overcome challenges and grow their businesses. The DSBD’s initiatives are an important step towards promoting economic growth, job creation, and entrepreneurship in South Africa.
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