Minister of Small Business Development, Stella Tembisa Abrahams has announced a R3.036 billion budget aimed at expanding support for entrepreneurs, with new funding initiatives targeting youth, women and township businesses.
Small Business Development Minister Stella Ndabeni-Abrahams says government is ramping up support for entrepreneurs through a R3.036 billion budget, including new funding for youth, women, and township businesses as part of plans to create jobs and grow small enterprises.
Delivering her department's budget vote, Ndabeni-Abrahams said the department aimed to support one million micro, small, and medium enterprises (MSMEs) and cooperatives during the seventh administration, adding that progress was already underway.
“We are on track,” she said, revealing that 288,123 MSMEs had already received support during the previous financial year.
She said small businesses remained central to economic growth and job creation.
