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South Africa: Dti to Launch Informal Sector Scheme |
| Source: |
www.sanews.gov.za |
| Source Date: |
Monday, October 21, 2013 |
| Focus: |
Electronic and Mobile Government, Citizen Engagement, Internet Governance
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| Country: |
South Africa |
| Created: |
Oct 21, 2013 |
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“What we want this summit to look at is the informal sector,” said October.
The annual summit this year is being held under the theme, ‘The role of SMMEs in South Africa’s Industrialisation Path’.
October said there was a need to pump resources into township businesses.
“Clearly what we can say is that we have not as a country, both as the public and private sector, done enough for small business, especially for township business,” he said.
South Africa’s economy, he said, had a structural problem.
“We’ve been working on the industrial policy to grow employment in the manufacturing sector and so on. We’ve supported the business community like the automotive sector, chemical sector, etc. and those sectors are starting to grow. What we are realising now, unlike other countries, when the big business sector grows, it takes small business with it.
“If you take Japan for example, when Toyota exports, there are 10 000 small businesses that benefit. There’s a symbiotic relationship between small and big business. In South Africa, we don’t have that. What we’ve realised is that as we’ve grown the formal sector, the township businesses have not grown because of our history,” said October.
It was now necessary to invest in infrastructure for the informal sector and for basics like equipment.
“What we have to do now … is to provide massive resources. We must invest in infrastructure and basic stuff like equipment,” October said.
The summit follows just a few days after the hosting of the first ever BBBEE Summit that was held in Midrand last week.
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South Africa: Dti to Launch Informal Sector Scheme The Department of Trade and Industry dti will launch an informal sector scheme which will give grants to the country’s informal sector dti Director General Lionel October said on Wednesday “We are going to launch this programme in December What we are going to have are small grants -- most of our incentives are quite big amounts We are going to structure incentives of R500 to R50 000 We are going to give small scale incentives,” October told SAnews He was speaking following the opening of the Small Business Summit held in Mpumalanga
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