Signing of Small Enterprise Bill a welcome step in cutting red tape for SMMEs

25 July 2024

The DA welcomes the signing of the National Small Enterprise Amendment Bill into law, which will rationalise conflicting entities in the Department and provide a "one-stop-shop" for SMMEs.

Thriving small businesses are key to our long-term economic growth. By encouraging and supporting entrepreneurship and providing business owners with the necessary support to thrive, we can better combat the rampant unemployment and poverty faced by millions of South Africans.

The Act will combine the Cooperative Banks Development Agency (CBDA), the Small Enterprise Development Agency (SEDA), and the Small Enterprise Finance Agency (SEFA) to create Small Enterprise Development Finance Agency (SEDFA).

Establishing a single agency helps to cut red tape between the Department and SMMEs and greater coordinate resources to the frontline. In addition, the Act creates a Small Enterprise Ombud, which the DA has advocated for since the Fifth Parliament. The Ombud will play a sizeable role in increasing the ease of doing business for SMMEs.

The DA will continue to put forward policies to support SMMEs, and looks forward to working with the Department of Small Business Development in bringing these forward.

Issued by Henro Kruger, DA Spokesperson on Small Business Development, 25 July 2024