Government Funding for SMMEs
The South African Government recognises that a healthy and growing SMME sector is critical to boost economic growth and job creation and has developed a variety of funding products that SMMEs can apply for. These include full grants, cost-sharing grants, tax incentives, growth incentives, loans and equity finance options.
Since these funds need to align to the key objectives of the Government’s National Development Plan, they will all include conditions that:
- Boost key sectors as outlined in the National Development Plan (includes assistance to companies that export South African goods).
- Boost job creation to significantly lessen unemployment (often also includes the need to ensure critical skills are transferred).
- Impact positively on economic inclusion (specifically for previously disadvantaged people and young unemployed people).
To read about the various government funding mechanisms visit the Finfind website. You will find a list of all government funds, together with a brief summary of each one.
Source: FinFind
