OVERVIEW
Development finance and SMME support Big companies are using their supply chains to support small business.
SECTOR INSIGHTS The University of Limpopo has started a Seed Fund for students with business ideas.
Chairman of Zizwe Opencast Mining, Howard Maimela, Kgosi Manotshe Ramokoka and senior general manager of Amandelbult Complex, Patrick Morutlwa.
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he provincial government, through its departments and agencies, has since 2014 given financial support amounting to more than R51-million to 1 200 co-operatives. In the same period, R193-million was provided to SMMEs. In partnership with the Small Enterprise Development Agency (Seda), the provincial government has established a construction incubation centre at Steelpoort in Sekhukhune to train emerging contractors. A jewellery incubation centre in Polokwane trains young jewellery makers. Local, provincial and national government have all committed to spending more of their budgets through small businesses and cooperatives. The Limpopo Provincial Government reports that in 2017, government departments paid invoices within 30 days 96% of the time. The University of Limpopo has launched the Limpopo Student Seed Fund which aims to promote social innovation among students. Sponsored by the SAB Foundation, the new fund will see R400 000 distributed to students whose businesses tackle social issues such as hunger, violence and unemployment. A concerted strategy to strengthen and develop the economies of the townships and villages of Limpopo has been launched. Spearheaded LIMPOPO BUSINESS 2019/20
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by the Limpopo Economic Development Agency (LEDA), a unit of the Limpopo Department of Economic Development, Environment and Tourism (LEDET), the plan has eight focus areas which include making licences and permits easier to obtain, that government departments buy from small, medium and microenterprises (SMMEs), indigenous products are supported and protected, and encouraging small businesses to support one another through the clustering approach. The revitalisation of the Seshego and the Nkowankowa Industrial Parks is intended to boost the local economy, with SMMEs expected to benefit the most. The National Department of Trade and Industry has committed R21-million to revitalising the Seshego Industrial Park which will provide trading and storage space for businesses of all sizes. LEDET has signed memorandums of understanding with the South African Bureau of Standards (SABS) and with
