New business development


Seda support for small business

19 August 2005 Trade and Industry Minister Mandisi Mphahlwa says small, medium and micro enterprises (SMMEs) need advisory support on financial and cash-flow management to make inroads into South Africa's "first economy". Speaking at the launch of the Small Enterprise Development Agency (Seda) branch at Mafikeng in North West on Thursday, Mphahlwa said that even if small enterprises got financial support, most would collapse from financial mismanagement. "We are launching the Seda branch here to provide non-financial and technical support for SMME sustainability," he said. The launch was attended by about 2 000 entrepreneurs from small and medium businesses. Mphahlwa said the government aimed to create a conducive environment for small businesses to thrive, with Seda branches being key delivery portals. "The fact that Seda provides non-financial support does not stop it exploring ways SMMEs can access funding from other institutions," he said. Seda chief executive Wawa Damane said the agency had already held discussions with Khula Enterprise about use existing networks and channels such as Absa bank to help small businesses access funding. "If small entrepreneurs approach us for help, and we see they have good business ideas, we will refer them to Khula in Rustenburg as part of this agreement," she said. Dawane said they had identified small-scale mining and agriculture as two key areas needing attention in the province. North West is the first province in the country to adopt the Seda model, with its first branch launched in Taung two months ago. Finance and economic development MEC Darkey Africa urged entrepreneurs to use the resources provided by the government to develop of their businesses. Africa said the province would work hard to set high standards in SMME development. Source: BuaNews

MediaClubSouthAfrica

MediaClubSouthAfrica.com

Helping the media cover the South African story >