Western Cape booster fund applications open to SMMEs

Applications are now open for the SMME Booster Fund and any existing SMME business development projects based in the province, especially those that support rural, township-based, youth and women-owned businesses, are encouraged to apply.

CAPE TOWN, May 13 (ANA) – Applications for the 2021 SMME Booster Fund are open, the Western Cape government announced on Thursday.

In a statement, Finance and Economic Opportunities MEC David Maynier said the fund will distribute up to R20 million (about US$1.4 million) to organisations and municipalities for programmes that focus on supporting small businesses to grow and improve sustainability in order to create more jobs in the province.

He said the funding will be run by the Department of Economic Development and Tourism.

The fund is calling for any existing SMME business development projects based in the province, especially those that support rural, township-based, youth and women-owned businesses, to apply.

“In the previous iteration of the SMME Booster Fund, through the allocation of funding to 16 beneficiaries like the Innovator Trust and Edge Growth, amongst others, we were able to support over 350 businesses in the Western Cape to grow and improve their sustainability, creating much-needed jobs,” Maynier said.

He said he visited previous beneficiaries of the SMME Booster Fund and the small businesses they supported earlier this week.

Maynier said he was impressed by one of the entrepreneurs who benefited, namely Glynn Mashonga, the CEO of GlobeScope Security.

Mashonga said her company benefited from the Innovator Trust and that the funding helped her increase her turnover, open a new office and employ more staff.

“I look forward to seeing the many success stories that will emerge from the 2021 SMME Booster Fund and encourage all relevant organisations in the Western Cape to apply.

“Now more than ever, we need to work together to ensure businesses are supported and are operating safely and responsibly so that we can save jobs and rebuild the economy in the Western Cape,” Maynier said.

The closing date for applications is Monday, June 7, 2021, and application details can be found on www.westerncape.gov.za/general-publication/smme-booster-fund.

– African News Agency (ANA); Editing by Yaron Blecher