Enterprise and Industrial Support Programmes
Enterprise support remains the centrepiece of economic and small business development programmes of the Department of Economic, Small Business Development, Tourism and Environmental Affairs (DESTEA). This support is in the form of financial and non-financial support. As a result of the massive economic impact of the Covid-19 pandemic on the Free State economy, it became clear that small and township enterprises, particularly, had no chance of recovery without Government intervention.
The Free State Provincial Government, (FSPG) responded to this devastation through DESTEA’s Economic Recovery Incentives which were announced by MEC Makalo Mohale on June 17, 2020. This intervention was meant to assist these Free State businesses to resume operations, retain jobs and create new ones where possible.
Through an open, transparent and fair process all received applications went through a screening process by a panel of selected adjudicators. By the end of the financial year a total of 893 formal and informal businesses received financial support to the total value of R74 943 562, 82 million and a total of 1340 jobs were created or saved. As a result of limited funds and various compliance issues other applicants were not successful and have been accordingly informed. This means that the Economic Recovery Incentives along with their financial support were only limited to the 2020/21 financial year.
For the 2021/2022 financial year, MEC Makalo Mohale announced several economic support programmes aimed at, amongst others, the transformation of the economy which will address the pattern of ownership and means of production.
MEC Mohale will provide an update on these and other Department programmes in due course.
Source: Government of South Africa