Efficient financial and performance management is embedded as a foundation for the Small Enterprise Development Agency’s (Seda’s) performance culture. Seda has once again received an unqualified audit report for the fifth consecutive year for the 2012/2013 financial year. Today, 27 September 2013, Seda is hosting the Annual Stakeholder Forum at the Theatre on Track, Kayalami, Midrand to inform its stakeholders of its achievements during the past financial year.
The outgoing Seda Board Chairperson, Mr Linda Mngomezulu, said the 2012/2013 financial year was characterized largely by an increased recognition of the integral nature of small enterprises in South Africa’s economic development.
In the year under review, Seda participated in numerous platforms including the 37th International Small Business Congress (ISBC) to share its experiences, successes and challenges in servicing this important small business sector.
The 2012/2013 financial year has seen significant progress by Seda in implementing its medium- to long- term strategy. The strategy is anchored by four focus areas, namely an increased incubation footprint; focused interventions for the upper end of the small enterprise sector; creation of large scale projects and collectively-owned enterprises; and small enterprise development in South Africa’s priority sectors.
Despite a challenging, albeit improving, operational environment for Seda and its clients, the organisation recorded exceptional performance levels during the 2012/2013 financial year, says Mngomezulu. This performance is a progression from previous financial years and affirms the stability and performance orientation in the organization.
The following are some of the successes achieved:
- Seda has continued its impeccable record of prudent and responsible financial management and again achieved an unqualified audit report with an expenditure of 97.21% against an approved budget.
- Increase in supported incubators from 32 to 42
- The incubation programme supported a total of 2,282 clients and created 2,301 direct jobs.
- The extension of the Western Cape network with the inclusion of 12 former RED Door (Real Enterprise Development initiative) offices.
- Seda continued to make headlines for the right reasons with a positive to negative publicity ratio of 116:1
- 98% of clients who received Seda assistance rated the interventions as either good or excellent.
- More than 60% of assisted clients recorded a growth in turnover, while 35% increased the numbers of people employed.
- A total of 68,850 aspiring and existing entrepreneurs accessed the Seda network for the first time during 2012/2013.
An important stakeholder group that may not always receive due recognition for their support is our clients, says Mngomezulu. We appreciate the confidence and trust of thousands of potential and existing entrepreneurs who regard Seda as a partner in advancing their aspirations and realising their dreams. We will strive to continuously add value to the mutual goal of growing and sustaining their businesses.
A copy of Seda’s 2012/13 Annual Report can be downloaded at www.seda.org.za
ISSUED BY: Small Enterprise Development Agency (Seda)
MEDIA ENQUIRIES TO: Beverly Kgame
TEL: 012 441 1187
MOBILE: 083 533 8030
Date: Wednesday, 27 September 2013