The Minister has read the Pricewaterhouse Coopers report on emerging companies recently released in Cape Town.
(i) Increase the size of the procurement pie
The department is focusing on both the private and public sector’s procurement opportunities through using the Codes of Good Practice and the 30% set aside policy, respectively.
ii) Improve mentoring and networking structures to facilitate growth opportunities
The department, through the Small Enterprise Development Agency (Seda), is implementing a programme of improving the quality of advice provided to SMMEs and co-operatives through a partnership agreement with Switzerland’s State Secretariat for Economic Affairs (SECO).
iii) Closing the funding gap
The department is currently reviewing all funding instruments in order to identify gaps and improve the performance of funding institutions, in particular the Small Enterprise Finance Agency (sefa).
Rapid implementation and follow-up execution by Government
The department agrees with this recommendation from the PWC report and further states that additional budget would enable the department to move with speed in upscaling its plans.
v) Our history allows for increased entrepreneurial opportunity
The department has a bias towards rural and township enterprise development and this focus would allow for more previously disadvantaged entrepreneurs to participate in the economic mainstream.