SMD

Annual Report 2023/2024

The SMMEs and Co-operatives Funding Policy was expected to be concluded by 31 March 2024 after it has gone through tabling to strategic structures such as National Economic Development and Labour Council (NEDLAC), Economic Sector, Investment, Employment and Infrastructure Development (ESIEID) Cluster and subsequently to Cabinet for final approval. This deadline was not met as the final inputs were received almost at the end of March 2024, and time was needed to analyse and incorporate the received inputs. Comments received from stakeholders were incorporated into the final SMMEs and Co-operatives Funding Policy. During the year under review, the Department implemented the Township and Rural Entrepreneurship Programme (TREP) that is meant to stimulate and facilitate the development of sustainable and competitive enterprises in the township and rural areas. The programme is targeted towards designated groups – women, youth and PWDs. A total of 20 509 township and rural enterprises were supported. Furthermore, the Department and its entities supported 345 Co-operatives financially and/or non-financially. Furthermore, the Department continues to facilitate the increase in the number of competitive small businesses with a focus on township and rural economies. The competitive SMMEs and Co-operatives are those SMMEs and Co-operatives supported financially and/or non-financially with the ability to create or sustain jobs. A total of 50 077 competitive SMMEs and Co operatives was supported by 31 March 2024.

out the Red-Tape Reduction Awareness Programme. The Red Tape Reduction Awareness Programme is aimed at improving the business-enabling environment by strengthening overall ranking within the top 50 countries by 2024 and achieving a top 50 ranking on indicators such as starting a business, trading across borders, and registering property. To this effect, a Regulatory Reform Implementation Plan was submitted to Minister, during the financial year under review, for approval. To facilitate the scaled-up and coordinated support for SMMEs, Co-operatives, Village and Township Economies, the Department approved the National Entrepreneurship Strategy, the Sector-focused and Hybrid Incubation and Digital Hub Support Strategy, the Township Economy Revitalisation Policy Implementation Plan, and the two reports on the SMMEs who participated in the SMME Incubation Programme and the Digital Hub Programme. 5.3. Overview of the financial results of the Department: Departmental receipts The Department does not provide services for which fees are charged. For the year under review, the Department collected R2.4 million, which was transferred to the National Revenue Fund. The revenue collected was from irrecoverable debts written-off (R2.3 million), rental from parking from DSBD employees (R17 thousand), commission received on the deduction of insurance/premiums from employees’ salaries (R45 thousand), Interest on bank accounts (R36 thousand), and forfeits from Government Employees Housing Scheme (GEHS) capital contribution (R3 thousand).

Enterprise Development

To amplify the efforts on reducing regulatory burdens on small enterprises, the Department assisted 55 municipalities, against a 2023/24 annual target of 30 municipalities, to roll

2023/2024

2022/2023

(Over)/ Under Collection

Estimate

Actual Amount Collected

(Over)/ Under Collection

Estimate

Actual Amount Collected

Departmental receipts

R’000

R’000

R’000

R’000

R’000

R’000

Sale of goods and services other than capital assets

64

62

2

121

56

65

Fines, penalties and forfeits

0

3

(3)

Interest, dividends and rent on land

26

1 212

(1186)

8

5

3

Financial transactions in assets and liabilities

26

1 142

(1116)

-

-

-

Total

116

2 418

(2 302)

129

61

68

14

Department of Small Business Development • GENERAL INFORMATION • Part A