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    SMEs call for solutions as crime wave bites

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  • Agriculture
    Small-scale farmers and livestock SMMEs in the North West are calling for urgent action to safeguard their businesses and livelihoods, after years of grappling with escalating crime and inadequate support.

    SMEs call for solutions as crime wave bites

    According to industry estimates, ASM contributes R30–40 billion annually to the economy, yet most of this activity remains undocumented.

    Small scale miners await outcome of new mining bill

    Village tea crafters head to world’s largest food trade fair

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  • Tourism
    The commitments made at the recent G20 Tourism Ministers’ Meeting in
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according to entrepreneurs in neighbouring Eswatini.

    Eswatini tourism SMEs eye G20 opportunities

    South Africa's first-ever G20 Tourism Hackathon Challenge has put the spotlight on
how technology can transform the country's tourism landscape and, crucially, how it
could open new doors for small businesses in rural and underrepresented
communities

    Youth tourism tech innovations hold promise for small businesses

    Itumeleng Seleke, CEO and operations manager of Nomusa BNB (Pty) Ltd in
Richards Bay, said the government’s push on destination marketing offers a chance
to diversify offerings and attract more visitors.

    Tourism plan brings fresh hope for small businesses

    G20 Tourism Ministers Summit has opened new opportunities for SMEs

    Tourism Investment Summit unveils R1bn in new projects

    Minister of Tourism Patricia de Lille noted  that SMEs are the backbone of the industry.

    SMEs pin hopes on G20 tourism priorities

    Bead makers are hoping to cash in on the abundance of cultural events during Heritage Month. 
Photo: Lucas Ledwaba/Mukurukuru Media

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    North West SMEs in the tourism sector are hoping to cash in on a new strategy shift by the provincial government. Photo. North West Arts and Culture

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  • Business
    Small-scale farmers and livestock SMMEs in the North West are calling for urgent action to safeguard their businesses and livelihoods, after years of grappling with escalating crime and inadequate support.

    SMEs call for solutions as crime wave bites

    Eskom Development Foundation CEO, Cecil Ramonotsi

    Eskom’s business connect powers up SMEs

    Cranes operating amid backlog at Durban port, exporters say equipment bottlenecks are contributing to delays

    SMEs hit hard as Durban port congestion worsens

    According to industry estimates, ASM contributes R30–40 billion annually to the economy, yet most of this activity remains undocumented.

    Small scale miners await outcome of new mining bill

    Village tea crafters head to world’s largest food trade fair

    Banana farmers face a growing threat from Banana Bunchy Top Virus in Kwa Zulu-Natal

    Banana Bunchy Top Virus threatens farmers and jobs

    The commitments made at the recent G20 Tourism Ministers’ Meeting in
Mpumalanga could open new opportunities for tourism SMMEs in Southern Africa,
according to entrepreneurs in neighbouring Eswatini.

    Eswatini tourism SMEs eye G20 opportunities

    South Africa's first-ever G20 Tourism Hackathon Challenge has put the spotlight on
how technology can transform the country's tourism landscape and, crucially, how it
could open new doors for small businesses in rural and underrepresented
communities

    Youth tourism tech innovations hold promise for small businesses

    Itumeleng Seleke, CEO and operations manager of Nomusa BNB (Pty) Ltd in
Richards Bay, said the government’s push on destination marketing offers a chance
to diversify offerings and attract more visitors.

    Tourism plan brings fresh hope for small businesses

    City of Tshwane Mayor Dr Nasiphi Moya

    Tshwane turns empty properties into SME hubs

  • Agriculture
    Small-scale farmers and livestock SMMEs in the North West are calling for urgent action to safeguard their businesses and livelihoods, after years of grappling with escalating crime and inadequate support.

    SMEs call for solutions as crime wave bites

    According to industry estimates, ASM contributes R30–40 billion annually to the economy, yet most of this activity remains undocumented.

    Small scale miners await outcome of new mining bill

    Village tea crafters head to world’s largest food trade fair

    Banana farmers face a growing threat from Banana Bunchy Top Virus in Kwa Zulu-Natal

    Banana Bunchy Top Virus threatens farmers and jobs

    Township bakeries are facing huge challenges as the prices of wheat and flour soars.

    Township bakeries face ruin as wheat prices soar

    South Africa and Brazil have signed a landmark Memorandum of Intent to boost agricultural cooperation.

    South Africa and Brazil partner to strengthen agriculture

    Stock theft is threatening small rural farmers.

    Call for action as rising stock theft cripples rural SMMEs

    Small scale fishing permit holders are struggling against undocumented competitors. Photo. Mukurukuru Media

    Illegal fishing threatens livelihoods of documented fishers

  • Innovation
    Finalists for the 2025 Äänit Prize, whose ventures tackle crime, climate change and youth unemployment to support Africa’s SME

    Innovators in race for $100,000 Mandela Rhodes Foundation prize

    Daveyton-born entrepreneur Kagiso Ranyawa has transformed steel drums into mobile handwashing stations

    Entrepreneur finds hygiene solution in steel drums

    Tshima Bricks is helping rural based folk to access bricks that are adaptable to their areas.

    Innovating rural housing – one block at a time

    Varsity student Owethu Ndzabe has opened a car wash

    Varsity student’s mobile car wash creates seven jobs

    TIA and Sedfa unite to propel growth for small businesses

    Women entrepreneurs find the going tough on online platforms

    Rich Tshepo helps SMMEs break into e-commerce

    E-commerce guru “Rich Tshepo” shares secrets

    Mulilo Renewable Energy LTD proves that there's energy market in South Africa.

    Mulilo is powering South Africa’s energy revolution

    The founder and CEO of Q4ME Vuledzani Mathavha

    Q4ME turns the hassle of queuing into a business opportunity

    Business analyst James Mavundla who launched Agrowex

    Agrowex App bridges farmer market gap

  • Finance
    SMEs are hoping that the G20 will ease export regulations

    SA pushes for global SME compact at G20

    DTIC Minister Parks Tau is inviting business people and related stakeholders to submit their views on proposed new draft regulations. Photo. DTIC

    Proposed changes to credit regulations target SMEs

    Chicken Bar franchise owner Asanda Maqabuka believes more needs to be done to empower women in franchise sector

    Women own 40% of franchise market but more support is needed

    Navigating SARS' 2025 tax season

    Tax season puts spotlight on compliance for new businesses

    MEC Lebohang Maile during his budget vote at Gauteng Legislature

    Gauteng’s budget offers strategic investment in SMEs

    South African National Parks, in partnership with Sanlam, offers an interest-free loan program at Table Mountain in Cape Town. Photo: Facebook.

    More businesses to benefit from SANParks loan deal

    Finance Minister Enoch Godongwana

    R402 billion budget could open doors for construction SMEs

    Small Business Finance Development Agency has helped an entrepreneur to secure funding to invest in a filling station. Pic: Shell

    Franchise funding for entrepreneurs

    SMEs happy with Limpopo budget

    Limpopo Budget: hope for small businesses

    GEP deputy chairperson Phosane Mngqibisa

    Gauteng increases support for small businesses to access funds

  • Tourism
    The commitments made at the recent G20 Tourism Ministers’ Meeting in
Mpumalanga could open new opportunities for tourism SMMEs in Southern Africa,
according to entrepreneurs in neighbouring Eswatini.

    Eswatini tourism SMEs eye G20 opportunities

    South Africa's first-ever G20 Tourism Hackathon Challenge has put the spotlight on
how technology can transform the country's tourism landscape and, crucially, how it
could open new doors for small businesses in rural and underrepresented
communities

    Youth tourism tech innovations hold promise for small businesses

    Itumeleng Seleke, CEO and operations manager of Nomusa BNB (Pty) Ltd in
Richards Bay, said the government’s push on destination marketing offers a chance
to diversify offerings and attract more visitors.

    Tourism plan brings fresh hope for small businesses

    G20 Tourism Ministers Summit has opened new opportunities for SMEs

    Tourism Investment Summit unveils R1bn in new projects

    Minister of Tourism Patricia de Lille noted  that SMEs are the backbone of the industry.

    SMEs pin hopes on G20 tourism priorities

    Bead makers are hoping to cash in on the abundance of cultural events during Heritage Month. 
Photo: Lucas Ledwaba/Mukurukuru Media

    Bead makers look to cash in on Heritage Month festivities

    North West SMEs in the tourism sector are hoping to cash in on a new strategy shift by the provincial government. Photo. North West Arts and Culture

    Tourism strategy shift gives SMEs new hope

    Statistics show that more than 79 000 tourists from China visited the country in 2023/4.

    Mandarin training could give local tourism business the edge

    SMEs in the tourism sector in Eastern Cape are set to benefit from SanParks incubation program

    Tourism SMEs to benefit from Sanparks incubation initiative

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Opportunities for furniture businesses to craft their future

by Moipone Malefane
July 13, 2023
in Business
Reading Time: 3 mins read
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By: Anna Majavu

Local furniture manufacturers are going through a tough time, but government entities say more technological advancement and innovation in the sector should help small furniture makers make a profit in a very competitive industry. Between the Department of Trade, Industry and Competition (DTIC), the Industrial  Development Corporation (IDC), and the National Empowerment Fund (NEF), there is about R400-million available in grants and incentives for local furniture manufacturers, with R5-million loans set aside for SMMEs looking to enter the furniture business or expand their existing operations.

Men at work in a carpentry workshop, South Africa

IDC business development manager Nicole Moonsamy told a recent webinar on access to finance in the furniture sector that the furniture financing aimed to help businesses purchase more advanced furniture-making equipment, which would help them improve competitiveness and their ability to supply furniture. The incentive also increases if furniture businesses localise. Buying more than 50% of their raw materials from local suppliers could earn the businesses a grant conversion of up to R2-million.

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NEF investment principal Khayelihle Sibiya said small furniture producers could access low-interest R5-million loans from the fund. “All types of enterprises will be supported, including start-ups, expansions and expansionary acquisitions, as long as your products fall within the category of furniture,” Sibiya said. Also speaking at the webinar, the DTIC’s Bernice Clacher said furniture manufacturers would be funded under the department’s Agro-Processing Scheme where furniture businesses were included as part of the post-harvest forestry value chain.

All three entities stressed that companies would have to transform to qualify for the grants and incentives. The DTIC’s furniture finance is for companies with 70% or higher black ownership and with valid B-BBEE certificates. To qualify, they needed to demonstrate that they would create jobs, broaden participation, modernise machinery and increase capacity, Clacher said. To boost other local businesses, 50% of the raw materials must come from South African suppliers and at least 30% from black South African suppliers, and 100% black-owned applicants may source within Africa if they cannot source locally.

Furniture businesses based in areas with high unemployment levels of over 25% will get an extra 10% grant if they manage to increase the number of employees in their business by 25% and achieve a level one B-BBEE status. Moonsamy said many furniture manufacturers were family-owned businesses. “What we are trying to encourage is an element of transformation,” she said, adding that these businesses would be given 36 months to achieve B-BBEE level four if they received IDC funding.

Tags: Industrial Development CorporationIndustry and CompetitionNicole MoonsamyTrade
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