Due to the complaints by the citizens about banks and financial institution’s refusal to support the SMME’s proposals as they consider them as risky ventures irrespective of the brilliance.
The National Treasury and the Department of Science and Technology have formulated an SMME and Innovation Fund which will be impĺemented during the 3rd quarter, with the disbursements in 2019/2020.
The funds will build on best practices in the sector and will be directed towards innovative and potential start-ups. The fund will lead to the rollout of the EUEP through SMMEs Support Programme for SA(SSPSA). This project will inject R800million into the SMMEs over the next 5years.
The Fund will be announced in September 2018 and will deploy effectively to craft an alternative future for entrepreneurs and SMMEs in SA.