Informal economy faces biggest Covid shock
The government’s stimulus packages and measures to limit business failures and job losses focus primarily on the formal sector, ignoring the informal economy of businesses most susceptible to shock, operating in the most vulnerable communities. Brett Hamilton, visiting lecturer in Corporate Finance at the University of Stellenbosch Business School... Read more
Isiqalo, LRED workshops hailed vital, eye-opening
The young and small entrepreneurs from the four major and largely rural regions of the Eastern Cape hailed the Eastern Cape Isiqalo Youth (EC Isiqalo Youth Fund) and Local and Regional Economic Development Funds workshops as vital and eye-opening engagements. They called on the Eastern Cape Department of Economic... Read more
NYDA launches district centre in Alfred Nzo
The National Youth Development Agency (NYDA) has successfully launched another district Centre at Alfred Nzo District Municipality in the Eastern Cape Province. The NYDA Alfred Nzo District Centre follows a successful launch of the NYDA OR Tambo Full Service Branch. This launch marks another milestone in the vision to... Read more
New initiative to support grassroots innovators
About 100 grassroots local innovators will have a chance to develop and commercialise their ideas and products. This will be made possible by the Department of Science and Technology’s Grassroots Innovation Programme (GIP), which will be unveiled on Thursday. To be implemented by the Technology Innovation Agency (TIA), the... Read more
Review for LRED applicants have 30 days to appeal
The Department of Economic Development, Environmental Affairs and Tourism has notified stakeholders that its independent review team, appointed to review unsuccessful applications for Local and Regional Economic Development (LRED) Fund for the 2018/19 financial year, have begun its work. The outcome of these requests will be communicated to the... Read more
Department  seeks means to boost SMMEs in SEZs
The Department of Small Business Development has commissioned a research study into opportunities and best practices for small, medium and micro enterprises (SMMEs) within the Special Economic Zones Programme. The study will be concluded and approved in June. It will look at international best practice of SMMEs within SEZs... Read more
Why are SMMEs battling to secure funding
While the failure rate of small businesses in the country is high, they remain the backbone of the economy, providing the majority of the job opportunities and contributing significantly to GDP. With the recent announcement of government job cuts over the next three years and with only 22% of... Read more
Coega a catalyst for emerging businesses
Two local SMMEs from Port Elizabeth, are currently benefiting from the construction of the state of the art facility for HELLA, a new investor at Coega Development Corporation. Sikuphiwe Trading, owned by Ncebekazi Mhlaba, is responsible for the brick works and plastering. Whereas, Dicky’s Electrical, owned by Sadick Hendricks,... Read more
Include women, youth in nuclear science development
Efforts to use nuclear science and technology for human development must include an element on skills development for women and the youth, says Energy Deputy Minister Thembisile Majola. “Our efforts in utilising nuclear science and technology towards human development will not be successful unless we locate at its core,... Read more
Small Business Development department develops red tape strategy for SMMEs
A national strategy is being developed to address the negative impact of red tape on small businesses and cooperatives, Small Business Development Minister Lindiwe Zulu announced on Thursday. “We are in the process of developing a National Red Tape Reduction Strategy, which will provide clarity on the logic, model... Read more