Small, Medium and Micro Enterprises in Mfuleni, Athlone and Gugulethu had the opportunity to be informed of funding opportunities available to them to help grow their businesses.
The City of Cape Town recently partnered with the Department of Small Business Development to encourage Small, Medium and Micro Enterprises (SMMEs and Cooperatives) in Mfuleni, Athlone and Gugulethu to apply for funding through Township and Rural Enterprise Programmes (TREP). The programme aims to assist SMMES with information about the purchasing of business equipment and provision of working capital, cost of production inputs and access to credit.
The Department, together with the Small Enterprise Development Agency and Small Enterprise Finance Agency, visited the areas recently.
The Township and Rural Enterprise Programme (TREP) for micro enterprises includes the following sectors:
- General dealers and spaza shops
- Clothing, leather and textiles
- Butcheries, tshisanyamas and cooked food
- Fruit and vegetable informal traders
- Bakeries and confectioneries
- Automotive aftermarket and mechanics
- Personal care service (Hair salons, nail technicians, message services, etc.)
‘The COVID-19 pandemic and the corresponding national lockdown regulations have undoubtedly had a devastating impact on the economy of Cape Town, especially SMMEs and township enterprises, and in particular the Informal traders. We welcome the initiative by the Department of Small Business Development and entities like Sefa and Seda to encourage Small, Medium and Micro Enterprises (SMMEs and Cooperatives) to apply for funding through Township and Rural Enterprise Programmes (TREP). As we emerge from one of the hardest lockdowns globally, the City recognises that partnerships and interventions like these will help economic recovery in our communities,’ said Alderman Grant Twigg, Mayoral Committee Member for Urban Management.
‘The City offers support to SMMEs through the Business Hub, which was launched in August 2019. The Business Hub is available to help entrepreneurs set up or improve their business and can help with any part of the process, including connecting SMMEs with business partners, funders, support organisations or municipal departments. We will continue to provide the right conditions for entrepreneurs to flourish and to push economic opportunities to all corners of the city,’ said Alderman James Vos, Mayoral Committee Member for Economic Opportunities and Asset Management.
More information about the Business Hub is available here: https://www.investcapetown.com/how-can-we-help/business-hub/