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SMMES AND CO-OPERATIVES: DRAFT FUNDING POLICY OUT FOR COMMENT
- 01 May 2023
- Small Business Development
- SA Legal Academy
The Department of Small Business Development has called for input by 29 May 2023 on a draft funding policy for small, medium and micro enterprises and co-operatives. Backdated to 28 April 2023, the document was published on 1 May 2023 as part of the composite National Government Gazette, which is normally issued on a Friday.
According to a foreword from Small Business Development Minister Stella Ndabeni-Abrahams, once operationalised, the proposed new policy is expected to be ‘adopted and implemented by both … private and public sector financiers’. Its purpose is to:
- ‘deepen access to finance’
- ‘reduce the level (of) concentration or monopolies in certain sectors of the economy’
- transform ownership patterns in the economy
- ‘address … financial literacy challenges amongst small businesses in both formal and informal sectors’
- ‘advocate for a compliance-light environment for small enterprises’
- improve co-ordination between SMME funding support programmes, and
- ‘eliminate … double dipping’.
Please click the link below to access the document:
- draft policy
Published by SA Legal Academy Policy Watch
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