Development finance and SMME support Small businesses have multiple financing options.
SECTOR INSIGHT Sedaâ€™s incubators assist entrepreneurs in six sectors. â€˘ Ithala is building storage hubs to help SMMEs.
peration Vula is a provincial government initiative to ensure that co-operatives and small businesses get a leg up into the formal economy through state-led infrastructure programmes that assist them, and through procurement policies that favour them. The Coastal KZN TVET College has been training members of co-operatives and people working in small, medium and micro-enterprises (SMMEs) in the skills that will help them do well in business. Training young people is an important part of the plan to boost SMMEs. A provincial Youth Economic Empowerment plan allocates R94-million over three years to training 3 425 young people in technical skills such as brick-laying, working with concrete, diesel mechanics, boiler-making, fitter and turning, and plumbing. Trainees are given KWAZULU-NATAL BUSINESS 2017/18
placements after the training is complete. In 2015, 1 050 young people were trained; the figure in 2016 was 1 125. An active national agency in supporting entrepreneurs is the Small Enterprise Development Agency (Seda). Seda gives nonfinancial support through training, assistance with filling in forms, marketing and creating business plans. In KwaZulu-Natal, Seda runs 12 incubators which either help new businesses get started or with the rehabilitation of existing enterprises. Three models are used: Technology Demonstration Centres (demonstration and training); Technology Incubators (where the focus is rehabilitation); Hybrid Centres, which combine elements of the other two models. The incubators in KwaZuluNatal include ICT and construction (three centres each), furniture and hi-tech (two each), chemicals and essential oils. The provincial government controls two important develop-
Published on May 3, 2013
KwaZulu-Natal Business 2016/17 is the eighth edition of this highly successful publication that has since its launch in 2007 established its...