Small Enterprise Development Agency (Seda) has assisted 1, 379 small businesses in the last financial year to access payment amounting to more than R33.9 million for services delivered to government. This brings the total number of payments facilitated since inception to R380 million says Sipho Zikode, Seda’s acting CEO.
“Accounting profit is meaningless without cash in the bank, Seda sees this function of assisting small businesses to get paid on time as one of its most critical services to small businesses,” said Zikode.
Seda Board Chairperson, Ivor Zwane said Seda would lobby government to ensure that officials in government who are responsible for delaying payment to small businesses were sanctioned.
“The establishment of the Ministry of Small Business Development is further indication that government is serious about the role of small businesses in our economy,” said Zwane.
He said South Africa had a target to create 11 million jobs by 2030 and more than 80 percent of these new jobs would be created by the small business sector.
Speaking at Seda’s Annual Stakeholder Forum held in KwaZulu-Natal, Zikode said Seda was pleased with the performance of the organization in the last financial year. Seda served 10,619 small enterprises in the 2013/14 financial year. Approximately 67% of these clients indicated an increase in turnover whilst 40% increased the number of people employed. The incubation programme assisted 1,587 small enterprises during the same period and created 2,900 jobs in the process.
Zikode said in the 2013/14 financial year Seda opened several more branches around the country from 43 to 55 branches to bring its services closer to its stakeholders. Furthermore, over and above the new branches that were created, Seda plans to roll out more incubators in the 2014/15 financial year.
ISSUED BY:THE SMALL ENTERPRISE DEVELOPMENT AGENCY (Seda)
MEDIA ENQUIRIES TO: Beverley Kgame
TEL: 012 441 1187
Date: Wednesday, 01 October 2014