Western Cape Government’s SMME Booster Fund: A Beacon of Hope for Entrepreneurs

The Department of Economic Development and Tourism (DEDAT) manages the Small, Medium, and Micro Enterprise (SMME) Booster Fund for the Western Cape Government (WCG). The fund has been a catalyst for economic growth and job creation in the Western Cape since 2019. Applications for the 2023 SMME Booster Fund close on 11th July 2023.

Fund Categories

The focus of the 2023 SMME Booster Fund is to support projects and programs aimed at growing and developing SMMEs in the following categories:

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

Fund Success

Within a short period, the SMME Booster Fund has already provided financial assistance to 860 SMMEs, sustaining 4,977 jobs, and creating an additional 651 jobs.

Government Commitment

The WCG is committed to making the province the easiest place to do business in South Africa. This commitment was reiterated at two recent events: the SMME Summit at the Cape Town International Convention Centre and an entrepreneur networking event in Khayelitsha, hosted by The Silulo Foundation.

SMME Summit

The SMME Summit brought together over 1,500 small business owners, government leaders, and business development experts to exchange ideas and address challenges faced by the SMME sector.

The Silulo Foundation

The Silulo Foundation’s networking event showcased its impressive work in providing access to opportunities, information, and skills development for aspiring small business owners and community members, particularly in townships and rural areas.

Economic Plan of Action

The WCG’s ambitious economic plan of action called ‘Growth for Jobs‘ aims to build a trillion-rand, jobs-rich, inclusive, sustainable, diverse, and resilient provincial economy by 2035, growing at an annual rate of four to six percent.

Government Support

At the core of this plan is the understanding that the government’s role is to make it as easy as possible for the private sector, especially SMMEs, to grow and create jobs. Entrepreneurs and business owners are encouraged to explore various programs the government runs to support SMMEs, accessible through the ‘Sector Support’ webpage.

Red Tape Assistance

Additionally, assistance with cutting red tape is available at redtape@westerncape.gov.za.

Fostering a Vibrant Ecosystem

The WCG’s unwavering commitment to fostering a vibrant ecosystem for SMMEs demonstrates the importance of a supportive environment for entrepreneurship and economic growth. By improving the foundations of growth, supporting SMMEs, and removing barriers to their success, the government aims to achieve higher growth rates and generate hundreds of thousands of new jobs. This will ultimately help uplift people out of poverty and pave the way for a future filled with opportunity and hope.