Question NW1731 to the Minister of Small Business Development
26 May 2023 - NW1731
Luthuli, Mr BN to ask the Minister of Small Business Development
(a) How do events such as the Presidential Small-, Medium- and Micro-Enterprise (SMME) and Cooperatives Awards to recognise SMMEs which her department held together with The Presidency contribute to the development and advancement of the SMME businesses they seek to recognise and (b) what incentives are in place that will prompt other young people to start SMMEs and/or to weather the storms in maintaining their businesses?”
Reply:
1. The aim of the National Presidential SMME and Co-operatives is to cultivate an enabling environment for the development, and nurturing of innovative ideas and best practices across the whole spectrum of small business development in the country. The awards recognise and celebrate outstanding SMMEs, SMME financiers, entrepreneur support organisations and success stories from Enterprise Supplier Development programmes.
The Department does not only recognise excellence but most importantly, the platform serves as a catalyst for business development and growth in that businesses are assessed to determine their development needs. The DSBD further seeks partnerships with other ecosystem players to provide mentorship, incubation support, training support and any relevant interventions aimed at assisting businesses to scale.
a) The department establishes incubators across all sectors of the economy to nurture and develop ideas from entrepreneurs and further provide business development support and financial support through its agencies.