SMME funding not responsibility of govt alone – Zulu
Small Business Development Minister Lindiwe Zulu discusses SMME funding. Camerawork: Nicholas Boyd. Editing: Lionel Silva. Recorded: 23/10/2014.
Government could not take responsibility for radical economic transformation and small business development on its own, Small Business Development Minister Lindiwe Zulu asserted on Thursday.
Speaking at the South African Chamber of Commerce and Industry (Sacci) 2014 Convention, she said all South Africans had to support government’s transformation agenda.
“Therefore, money must be given to small, medium-sized and microenterprises (SMMEs) and not only by government alone,” she commented.
Zulu stated that the Department of Small Business Development had been created in the “worst of times”, with the funds available to government not infinite.
She noted that the resources of large corporates, therefore, also had to be applied to growing the SMME sector.
Zulu pointed out that the participation of black people in the economy, 20 years after democracy, was still inadequate, stressing that government alone could not resolve the triple challenges of unemployment, poverty and inequality.
She urged big business to “look deeper” into supporting black entrepreneurs, but not only in terms of the provision of funds, but also the transfer of skills.
She added that, when giving money to SMMEs, corporates also had to take the history of the country into account and consider that many people did not have adequate financial management skills.
Therefore, while money had to be provided to fund new start-ups, mechanisms also had to be put in place to ensure that the SMMEs used the money provided in the best possible way.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...
VISIT SHOWROOM
South African leader in Steel -Racking, -Shelving, and -Mezzanine flooring. Universal has innovated an approach which encompasses conceptualising,...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
