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Micro-business lifeblood of CT economy - councillor

Cape Town - The City of Cape Town said it is serious in developing the micro-enterprises and the informal sector, as it is the lifeblood of the economy and the greatest job creator.

The City's mayoral committee member for tourism, events and economic development Garreth Bloor said on Thursday the City recognises the importance of micro-enterprises and the informal sector, and their contribution to the economy. "We are serious about the growth of this sector.

"We view this sector as the lifeblood of our economy and it is the greatest driver of job creation. In 2013, the sector contributed approximately R6bn per annum to the City’s GGP (Gross Geographic Product). The City of Cape Town is trying to ensure that we do everything in our power to increase the contribution of this sector to our GGP," Bloor said at the City's micro-enterprise and informal economy summit.

"There is therefore a need to understand the dynamics of this sector so the City can influence existing policy and by-laws to ensure economic growth of micro-enterprises. The City also endeavours to provide linkages and access to a range of economic development partners to support the potential for increasing specialisation and growth in the informal economy."

He said the scale and breadth of micro-enterprises in Cape Town means that the City cannot adopt a one-size-fits-all approach in supporting the informal economy. Events such as the summit bring representatives from across the sector together so that participants can explore these opportunities together and develop appropriate strategies for the future.

"The City is exploring the breadth of economic activity, spatial location of activity and value chains in key industries. The goal is to develop a vision and policy to respond to the informal economy as a whole," said Bloor.

"Initiatives such as our business retention and expansion projects have kicked off in areas such as Retreat, Philippi and Bellville to contribute to the growth and sustainability of established small and medium enterprises in those areas. Local businesses have shown a keen interest and many have participated in these projects."  

Trading plan processes have undergone a business re-engineering initiative to fast-track trading plans and to ensure that a win-win solution is realised for both traders and the communities in which they trade.

"As a City, we have remodelled tariffs for street trading, aiming to standardise prices across the city for all informal trading sites," said Bloor.

For entrepreneurs and residents seeking guidance to business support and/or workforce development, there is the Small Business Support service within the Economic Development Department. "Enterprises can make use of this service by contacting us so we can link them with the nearest or most appropriate support agency or programme," said Bloor.

"If a business has a particular issue which is hampering their growth or expansion, they are welcome to contact us and we will try and help to facilitate the process," said Bloor.

         
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