Finance and Economic Opportunities
Whether he can provide details of support measures that his Department is offering to township businesses during the lockdown period, especially to those regarded as part of essential services (such as pharmacies, retail or spaza shops and butcheries) and to those regarded as part of non-essential services (such as B&Bs and sewing), in addition to the SMME relief package announced by the national Department; if not, why not; if so, what are the relevant details?
The lockdown is necessary to stop the spread of the Coronavirus. We recognise that there will be a severe impact on businesses and the economy in the Western Cape. And so, we are working hard to support businesses, to back businesses and to save businesses, jobs and the economy in the Western Cape.
To support all businesses in the Western Cape to access financial assistance available, we have implemented the following:
- We launched the Covid-19 Content centre in partnership with Wesgro and the City of Cape Town, to provide advice and support for businesses include a series of Frequently Asked Questions which includes details of financial assistance available, and best practise advice on how they can adapt and build resilience in this difficult time. This information is freely available www.supportbusines.co.za and any business can email their questions about financial assistance to supportbusiness@wesgro.co.za
- We launched the Covid-19 support finder which helps businesses navigate and access the many support funds available to them. Available on the Covid-19 Content Centre, the tool asks five easy questions, ranks the answers against pre-determined criteria, and provides a list of funds that a business may qualify for. The process takes under a minute and can be accessed by any business at www.supportbusiness.co.za/covid-19-support-finder
- Launched the JUMP for entrepreneurs smartphone app which is an innovative one-stop-shop for existing and potential business owners in the Western Cape to get all the resources they need to start, scale and grow their companies. The app includes the FundingAssist feature which was developed in partnership with FinFind, a recognised leader in small business finance readiness. This feature gives any business owners looking for funding, the opportunity to assess their unique business finance needs, receive recommendations on the appropriate funders and products available, and assist them with their funding readiness and application process. The JUMP app for entrepreneurs can be downloaded at bizjump.co.za
