Pinecrest Centre in Pinetown after looters emptied the supermarkets and other shops in the centre last week. Photograph: Supplied
Here’s a financial lifeline for SMMEs hit by civil unrest
Trade and Investment KZN has set up a fund to provide assistance to SMMEs who are trying to pick up the pieces after the recent civil unrest.
Pinecrest Centre in Pinetown after looters emptied the supermarkets and other shops in the centre last week. Photograph: Supplied
As businesses across the country battle to recover from the recent civil unrest, some financial relief is on the way for Small, Medium and Micro Enterprises (SMMEs) in KwaZulu-Natal.
This comes after the establishment of Trade & Investment KwaZulu-Natal’s (TIKZN) Business Support Fund, which was set up between the Provincial government’s Department of Economic Development, Tourism and Environmental Affairs (EDTEA) and the Industrial Development Corporation (IDC). The fund is valued at R30 million and aims to assist SMMEs impacted by the civil unrest in mid-July.
The unrest in July 2021 damaged growth, jobs and transformation and affected investor confidence in the domestic economy. To mitigate the damage caused, TIKZN in collaboration with its strategic partners launched the special fund to support affected SMMEs in urban, rural and in the township areas, to restore what has been lost, preserve jobs and continue with efforts to re-industrialise the economy.
This is a grant ranges from R50 000 up to a max of R 1 000 000,00 per business subject to the TIKZN Business Support Fund Application approval process. This support is intended to accelerate social, economic, and spatial transformation in the Province of KwaZulu-Natal.
Applications opened, from Wednesday, 6 October 2021, to the owners of Small Enterprises, Micro- Enterprise, and Medium Enterprises which are operating in KwaZulu-Natal. The closing date for applications is 25 October 2021.
Neville Matjie, Chief Executive Officer of Trade & Investment KwaZulu-Natal said:
“We continue to work with all South Africans to rebuild an economy that is more resilient and sustainable. We call on the private sector and other stakeholders to partner with us in forging expeditious solutions to save our all-important SMMEs in affected areas. We urge the affected and qualifying businesses to take this opportunity and apply for the business recovery support programmes offered to ease the pressure and risk to closing their businesses while progressively elevating the economy during this difficult period.”
“We are pleased that through IDC, Trade & Investment KwaZulu-Natal has been given the baton to assist in facilitating applications for businesses. Our One Stop Shop facility will be the point of contact for these businesses,” concluded Matjie. ”
Information on the TIKZN Business Support Fund Application Forms and Guidelines can be downloaded from the TIKZN website www.tikzn.co.za / business support desk. Applicants can submit their applications together with all supporting documentation to the following email address: business.support@tikzn.co.za.
Physical documents are also obtainable and can also be returned to:
- The Department of Economic Development, Tourism and Environmental Affairs (EDTEA) District Offices available in all District Municipalities and
- Trade & Investment KZN Offices located at Kingsmead Office Park, Kingsmead Boulevard 1 Arundel Close, Stalwart Simelane St, Durban, 4001.
The closing date for submission of completed applications with all supporting documents is 25 October 2021 and no late applications will be accepted post the closing date.
Enquiries can be directed to Mr Ndumiso Mlambo, General Manager: KZN One Stop Shop email address:- business.support@tikzn.co.za or telephone number: 031-368 9600
