2023 SMME Booster Fund launched after creating 650 jobs

The Department of Economic Development and Tourism is excited to announce that it has launched the 2023 iteration of its successful Small, Medium and Micro Enterprise (SMME) Booster Fund.

Western Cape Minister of Finance and Economic Opportunities, Mireille Wenger said: “SMMEs are the backbone of our economy, contributing significantly to both economic growth and job creation in the Western Cape. Which is why I am very proud of the fact that since the first iteration of the fund in 2019, the SMME Booster Fund has assisted 860 SMMEs, thereby sustaining 4 977 jobs.  The Booster Fund has helped these SMMEs to grow, creating an additional 651 jobs.”

The SMME Booster Fund provides support to interventions, which include projects and programmes, implemented by organisations and/or municipalities that are geared at supporting SMMEs based in the Western Cape.

The Fund will focus specifically on support projects / programmes aimed at growing and developing SMMEs, in the following categories:

• Exporter development
• Women-owned businesses
• Youth-owned businesses
• Township-based businesses

The Fund utilises a co-funding implementation model which encourages collaboration and partnerships and will focus only on the technical support aspect of the project and/or programme.

The rollout of other aspects such as training, mentoring, coaching, access to market interventions will be funded by the organisation applying for funding.

Minister Wenger continued: “The Western Cape Government takes our role in creating an enabling environment for SMMEs to thrive, seriously. We also understand just how difficult the current climate is for small businesses, especially due to ongoing loadshedding, compromising the ability of all businesses, big and small, to trade.”

Applications close on 11 July 2023 at midnight and all information on how to apply as well as the relevant documents can be found on https://www.westerncape.gov.za/general-publication/smme-booster-fund-2023

“I strongly encourage qualifying organisations to apply to the SMME Booster Fund so we can help sustain and grow businesses which will help create many mores jobs in the Western Cape.” concluded Minister Wenger