Durban Chamber of Commerce hosts Economic Recovery Support webinar
The Department of Trade, Industry and Competition (DTIC) in collaboration with the department of Small Businesses Development (DSBD) and the South African Special Risk Insurance Association (SASRIA) in a webinar on Thursday,called on small enterprises and informal traders whose businesses were looted and vandalized during the unrest that gripped KwaZulu-Natal in July, to apply for economic recovery support interventions.
The webinar aimed at unpacking the economic recovery support interventions announced by the minister of DTIC, Mr. Ebrahim Patel. The R3.75 billion package allocated for the restoration of businesses affected by the recent unrest, and to assist uninsured small enterprises impacted by the violence and looting that took place in July.
According CEO of the Durban Chamber of Commerce Industry NPC, Ms. Palesa Philto ,as part of the governments efforts to aid in economic rebuilding, the IDC that offers comprehensive package giving funding support for businesses and communities affected by the unrest to the tune of R1.5 billion.
“This includes a R100-million matching grant facility to support small and informal businesses in the townships, rural areas and small towns affected by the unrest. The fund is designed to target the socio-economic challenges facing these businesses, as a result of this recent unrest,” she explained
Spaza shop owner, Lucky Makhaya, says his shop situated in S.J Smith, Mobeni was hard hit by the lootings and unrest.
“My customers have been badly affected by the lootings, I was forced to close my Spaza due to the unrests. I resorted to depositing all the cash I had on hand, this was money for purchasing airtime and to place orders at the wholesalers . It was near impossible for me to operate as I had no stock to sell. I am selling basic food stuff. It is also hard for my customers as they’ve lost jobs. I am also waiting for funding that the government promised us as small businesses to provide a cash boost,” he said.
Durban Chamber Of Commerce also promised to boost Informal traders Support Programme, through business associations. It also seeks to provide financial and non-financial support to traders, with a R3 000 grant being offered to informal traders. They added that, Informal traders should be willing to participate in business development services offered by the Small Enterprise Development Agency.