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  • The Small Business Development Department has various programs to help uninsured small businesses affected by looting.
  • Depending on the program you are applying for, funding can range from 3,000 to 2 million Rand.
  • The Business Resumption Support program is designed to help uninsured small businesses by providing them with cash, equipment, furniture and accessories..
  • For more stories visit www.BusinessInsider.co.za.

The Small Business Development Department has established various ways in which uninsured small businesses affected by looting in KwaZulu-Natal and Gauteng can get help.

Here’s how entrepreneurs can ask for help.

Business takeover support program

The Business Recovery Support Program (BRSP) is specifically aimed at helping uninsured small businesses directly affected by the violence and looting that took place in KwaZulu-Natal and Gauteng in the week of July 9.

Entrepreneurs who need financing for working capital, equipment, furniture and fixtures are taken care of.

With the blended finance approach, the BRSP offers financial support in the form of a grant (60%) and a loan (40%), with an interest rate limited to 5%. The maximum funding available for a small business is R 2 million and a repayment period of up to 60 months applies.

Small businesses with existing financing from other lenders are also considered.

Application forms should be submitted to [email protected] by the closing date of September 30, 2021.

The cantonal and rural entrepreneurship program

The Township and Rural Entrepreneurship Program (TREP), also under the Ministry of Small Business Development, provides small businesses in rural areas and townships with financial and non-financial support.

The program, which existed before the looting, aims to transform opportunities in townships and rural areas into productive business enterprises.

It also aims to overcome the legacy of economic exclusion by creating an enabling environment for entrepreneurial activity and providing dedicated business support to businesses in rural and communal areas, including access to finance.

The different channels include one-stop business support service, remote business incubation, business skills training, product development support, credit guarantee, finance case and access to finance. financing, including working capital.

Business owners whose businesses have been affected by the looting can also apply.

Support program for informal traders

DSBD, together with the Small Business Development Agency (Seda) and the Small Business Finance Agency, developed the Support Program for Informal Traders.

The program aims to support informal enterprises and informal sector micro-enterprises affected by recent looting.

It is expected to support over 17,000 informal traders with a one-time grant of R3,000 each.

The program offers support to informal traders through trade associations, and affected informal traders must be willing to participate in business development services offered by the Small Enterprise Development Agency.

To apply, informal traders do not need to be registered with CIPC and SARS.

Application forms should be emailed to [email protected]

Business development support

In addition to the informal traders support program, Seda provides business development support.

This includes developing business plans if necessary, training in financial management and other aspects of supporting businesses. It also includes support before and after the investment.

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