Cape Town is empowering local businesses through initiatives like the Khayelitsha Local Economy Symposium, which offered entrepreneurs a platform for networking and knowledge exchange. The city provides support systems such as the Site C Business Forum and the City’s Business Hub to help entrepreneurs thrive, and the Youth in Business program equips young entrepreneurs with technical and business skills. Cape Town aims to cultivate a sustainable and inclusive economy that benefits all residents of the city, not just businesses.
Cape Town is helping small and mediumsized enterprises (SMMEs) thrive through its Smart Supplier Programme. The initiative connects SMMEs with potential clients and provides workshops to equip them with the skills necessary to overcome business obstacles and establish collaborations. With a focus on networking, the programme aims to link SMMEs with clients nationally and continentally, yielding business prospects worth an estimated R20 million.
The Business Retention and Expansion unit in Cape Town is transforming the city’s industrial landscape by placing businesses at the core of its strategy. Through proactive action teams, the unit leverages the power of multiple city departments to enhance economic resilience, promote energy security, alternative energy solutions, and transport infrastructure. The unit’s initiatives have yielded tangible results, such as prospering businesses, dynamic city districts, and a thriving economy. Through partnerships and proactive initiatives, Cape Town continues to attract investment and job creation, ensuring ongoing economic stability for the entire city.
The cannabis and hemp sectors in South Africa have enormous potential for economic growth and prosperity. However, smallscale businesses face significant challenges in securing financial aid and competing against large corporations. The Portfolio Committee on Small Business Development and SAHPRA are working to implement measures to create a favorable environment for smallscale cultivators to thrive. With collective effort, the cannabis and hemp sectors can make a substantial contribution to South Africa’s economy, and it’s important for citizens to advocate for change.
Strengthening South Africa’s Franchising Sector: Insights from Minister Stella Ndabeni-Abrahams
South Africa’s Minister of Small Business Development, Stella NdabeniAbrahams, spoke at the Franchise Association of South Africa conference, highlighting the importance of collaboration between FASA and her department to promote small business growth through franchising. She also emphasized education and training to cultivate a culture of entrepreneurship in South Africa, celebrating the nation’s diverse cultural heritage. The conference provided valuable insights, networking opportunities, and showcased the government’s commitment to strengthening the franchising sector.