Pretoria – The Department of Small Business Development has funded 678 enterprises with R224.8 million through the Black Business Support Development Programme (BBSDP).
On Wednesday, the department appeared before the Portfolio Committee on Small Business Development to present its annual report for the 2015/16 financial year.
The department also funded 247 primary co-operatives with R74.9 million through the Cooperatives Incentive Scheme (CIS). Furthermore, 227 cooperatives benefitted from skills development through partnerships.
“The department continued with its programmes to support entrepreneurship. In partnerships with Technical Vocational Education and Training (TVET) colleges, the department launched five centres of entrepreneurship,” the department said.
The centres were launched in KwaZulu-Natal, Limpopo, Northern Cape, North West and the Eastern Cape. They provide generic enterprise development services and incubation to Orbit TVET College graduate students and members of the surrounding communities.
“The centres will contribute towards the promotion of entrepreneurship and to assist college graduates who cannot be absorbed by the labour market in starting their own businesses,” the department said.
As part of bringing services closer to communities and its constituencies, the department established 29 co-location points across the country. They serve as integrated complimentary services offered by Small Enterprise Development Agency, Small Enterprise Finance Agency, provincial partners, SA Revenue Services to increase business support services in townships and rural areas. – SAnews.gov.za
