Small Business Development Committee recommends budget of R8.1 billion to dept over medium term
10 July 2019
The Portfolio Committee on Small Business Development has recommended a budget of R8.1 billion for the Department of Small Business Development over the medium term of this, R5.9 billion will be transferred to the Small Enterprise Development Agency for its operations and also to the Small Enterprise Finance Agency for administering the Small Business and Innovation Fund.
In its report for budget vote 31 for the 2019/20 financial year, the committee further called on the department to spearhead a process of developing a wholesale and retail charter, as well as a market access strategy.
The committee has identified small enterprises’ and cooperatives’ access to market as one of the critical delivery areas for the department in the medium term.
The Chairperson of the committee, Ms Violet Siwela, said that both the charter and strategy should state how small enterprises will benefit from government’s 30% procurement policy and R100 billion infrastructure fund, recently announced by the President.