Information on this page courtesy of SA Business Hub
Small business owners can call 0860 663 7867 or email [email protected] to find out what kind of government support they qualify for during the lockdown.
Small businesses in SA can now register for help during the coronavirus disaster
Registration is now open, on www.smmesa.gov.za, for small and medium-sized businesses that require help during the coronavirus crisis. The department of small business development has promised a debt-relief fund for small businesses. Applicants will be screened by way of that register.
The Department of Small Business Development has made over R500-million available immediately – accessed via a simplified application process – to assist small and medium enterprises that are in distress.
https://www.moneyweb.co.za/news/south-africa/debt-relief-fund-for-smes-amid-covid-19-pandemic/
https://www.bizcommunity.com/Article/196/710/201930.html
Go to: http://www.smmesa.gov.za/
IDC
IDC’s Corporate Plan has allocated approximately R3 billion for disbursement in the next quarter. This will be supplemented by an additional R700 million from the Department of Trade, Industry and Competition’s Manufacturing Competitiveness Enhancement Programme (MCEP) facility to support working capital and machinery and equipment for the supply of critical goods. IDC will be reprioritising funding towards efforts to support the response to COVID-19, such as R500 million for trade finance to support the importation of critical supplies and targeted sector initiatives.
Additional funding will be shared with Small Enterprise Finance Agency (sefa) and National Empowerment Fund (NEF), where IDC will receive R300 million and sefa and NEF will each receive R200 million. The funds transferred to these institutions will also be used to fund businesses that fall within the mandate of the institutions and support prioritised products that are required to curtail the impact of the virus.
https://www.idc.co.za/2020/03/24/idc-interventions-in-response-to-covid-19/
NEF to manage R200 million COVID-19 Intervention Fund
The National Empowerment Fund (NEF) is managing a R200 million COVID-19 Intervention Fund on behalf of the Department of Trade, Industry and Competition.
- The fund has been set up to assist manufacturers providing such items as:
- Medical Gloves and Accredited Masks
- Diagnostics and Accredited test kits
- Bulk supplies of disinfectants, sanitizers (hand and industrial) and wipes
- Nebulisers and nebulising agents
- Ventilators and filters
- Disposable visors, googles, gowns and aprons
- Packaging (bottles, caps, pumps, sachets etc)
- Drugs proven to combat the coronavirus
- Digital Body Thermometer
- Powered Air purifying respirator (PAPR)
- Sanitary pads, toilet and tissues paper
- Manufacturing of hospital beds
- Manufacturing of oxygen
- Related chemicals
Funds will be availed to black empowered businesses that can provide confirmation of valid and verifiable orders.
https://www.investcapetown.com/nef-to-manage-r200-mil-covid-19-intervation-fund-with-the-dti/
Funding packages administered by Small Enterprise Finance Agency (sefa) – R200 million
The following funding packages will be administered by sefa in order to support SMMEs in response to the COVID-19 pandemic through the following interventions:
- Business Growth Facility
- SMME Relief Finance
- Restructuring of sefa-funded SMMEs
https://www.thecdi.org.za/resource/resmgr/newsletter2020/covid_19_smme_support.pdf_.pdf
Department of Tourism
The Department of Tourism has made an additional R200 million available to assist SMMEs in the tourism and hospitality sector who are under particular stress due to the new travel restrictions. This is amongst the interventions they believe will help to cushion our society from economic difficulties.
Tax
Taxpayers who earn less than R6 500 a month will pay R500 less in income tax every month for four months.
Businesses with a turnover of less than R50 million a year will be able to delay their tax payments for the next couple of months.
https://mg.co.za/article/2020-03-23-south-africas-economic-plan-for-covid-19/
Unemployment Insurance Fund
A total of R30 billion has been allocated to a special National Disaster Benefit Fund, which will pay Unemployment Insurance Fund benefits for up to three months to qualifying workers whose income has been impacted by the coronavirus pandemic.
Easy-aid guide for employers for UIF benefits:
The Minister of Employment and Labour has announced measures that the Department will put in place as required under the current special circumstance relating to the Corona virus (COVID-19) and its impact on UIF contributors. The Unemployment Insurance Fund will compensate affected workers through a new “National Disaster Benefit” and its existing the Illness, Reduced Work Time and Unemployment benefits. This new “National Disaster Benefit” and any other normal UIF benefit is only applicable to employers who are registered with UIF and make monthly contributions as required by the Contributions Act of 2002.
https://www.thecdi.org.za/resource/resmgr/newsletter2020/uif2020.pdf
Temporary Employer/Employee Relief Scheme
The employer can apply for relief in terms of TERS but will need to meet the relevant criteria. Should the application be granted the employer will then receive funding via the Unemployment Insurance Fund which will then need to be utilised to pay wages / salaries.
https://www.thecdi.org.za/resource/resmgr/newsletter2020/ters-final.pdf
Proudly SA – support for manufacturing
Proudly South Africa is soliciting applications from companies that find themselves facing particular supply chain challenges at this time, which may be threatening productivity. They are referring qualifying companies up to the dti for assistance.
https://www.thecdi.org.za/resource/resmgr/newsletter2020/proudlysa.pdf
Compensation Fund
Any employee who falls ill through exposure at their workplace will be paid through the Compensation Fund.
https://www.gov.za/services/compensation-fund/register-compensation-fund
Author: Derrick Markotter
RCCI Webmaster Derrick runs a boutique web marketing agency, IdealMedia Marketing.