Western Cape SMEs receive R27 million cash injection

The Western Cape government is helping small businesses crippling under Covid-19 and the national lockdown by introducing an R27 million relief fund.

This cash injection will boost both the formal and informal sectors to save much-needed jobs.

The provincial government has estimated that 170 000 jobs will be lost because of the pandemic that continues to ravage economies across the globe.

“We know that times have been tough for businesses during the Covid-19 pandemic, and that is why, from the start, we have been working hard to support businesses, especially small businesses, to open safely and responsibly, so we can save jobs and save the economy in the Western Cape,” said the provincial government on Tuesday.

The grant will be used to pay for business expenses such as fixed costs, operational costs, supplier debt and other pressure cost items; but excludes payments of and towards salaries and wages.

This financial aid will be capped at approximately R200 000 per business and R15 000 for informal establishments.

“The department reserves the right to determine a higher or lesser amount and the right to fund selected components of the approved application.”

On the other hand, businesses that have already benefited from a government relief initiative won’t qualify for this.

The province also announced the launch of a workplace safety campaign, which will help businesses to implement health and safety guidelines in the workplaces.

“With the move to alert level 1 which allows more businesses to safely open, this fund is an important step in our economic recovery plan to help businesses to rebuild and save jobs in the Western Cape.”

Qualifying business owners must apply before the closing date of 12 October 2020 at 10 am.

For more information on the Western Cape Covid-19 Business Relief Fund visit https://www.westerncape.gov.za/general-publication/western-cape-c-19-business-relief-fund.

Read the original article here at Skills Portal