Seda pleased with progress

2016-10-12 06:00
DELEGATES during the recent stakeholder meeting. Photos: Boipelo Mere

DELEGATES during the recent stakeholder meeting. Photos: Boipelo Mere

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THE Small Enterprise Development Agency (Seda) supported incubators was reported to have created 497 new Small, Medium and Micro-sized Enterprises (SMMEs) in the year that was under review.

The total of 74% of SMMEs surveyed during the period showed an increase in turnover and in the process created 2 331 new jobs.

That is according to Seda’s 2015-’16 annual review document that was elaborated on by the chairperson of Seda, Dr Ivor Zwane.

He made remarks during the 12th Annual Stakeholder Forum (ASF) of Seda’s support to small enterprises and cooperatives at the Mitah Seperepere Convention Centre on Friday (07/10).

The event was attended by the Minister of Small Business Development, Lindiwe Zulu, who made the keynote address on the overall performance of Seda and provided a way forward regarding its mandate and objectives.

The MEC for Economic Development and Tourism in the Northern Cape, Mack Jack, and CEO of Seda, Mandisa Tshi-kwatamba, highlighted how Seda has emerged with an unqualified audit from the Auditor General of South Africa.

Apparently, the period under review has proven to be one of the most challenging. However, some really good developments emerged during this period.

Seda and the Department of Small Business Development (DSBD) launched the business acceleration programme, Gazelles For Top 40 Businesses, which has been in existence for two years, turning over R1 million per annum.

According to the document, the agency’s footprint through incubation centres grew to 57, with 55 as a target for the year.

The centres support largely technology-based businesses.

They were significantly supported through the Seda Technology Programme, particularly increasing Seda’s incubator total.

In the year under review, 10 679 small enterprises were supported by Seda through its branches. Of these clients, 910 are from the Northern Cape.

Co-operatives are the ones reported to be facing some challenges, which affects their survival in the current economic climate.

Seda managed to increase the number of secondary co-operatives supported to 40, while the number of primary co-operatives supported stood at 166.

Seda, DSBD, the United States Agency for International Development (USAID), the Institute of Business Advisors of South Africa (Ibasa) and the Human Resource Development Council (HRDC) launched an online platform for SMMEs and cooperatives seeking finance, called FinFind.

Finfind is an online finance readiness portal in which business owners can meet potential financiers, both in the public and private sector.

It was officially launched in October 2015.

Section 13E (6) of the National Small Business Amendment Act, Act 29 of 2004, requires that Seda, through its board of directors, organise a yearly consultative meeting with stakeholders to report on the agency’s performance achievements.

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