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R18m revving up SMMEs

Feb 22 2013 19:25
Sapa
Johannesburg - The North West government has granted loans to 96 small, medium and micro enterprises (SMMEs), provincial officials said on Friday.

Premier Thandi Modise said in her state of the province address in Mafikeng on Friday the businesses that received the loans were "deserving".

The loans amounted to around R18,5m.

"Though access to funding has always been a thorny issue for emerging entrepreneurs, R22m was made available to start the SMME fund," said Modise.

"[A total of ] 396 jobs, of which 263 are permanent and 97 temporary were created in the sector, through the allocated loans granted to SMMEs".

Modise said the SMME sector has been prioritised by government as it has the potential to address socio-economic challenges facing both developing and developed countries.

She said without small business development, economies would remain stagnate, unemployment levels would continue to rise and the general standard of living would deteriorate.

Modise also prioritised helping the youth through entrepreneurial and skills development in her address.

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thandi modise  |  north west  |  smmes
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