Small Business Development takes its Asset Assist to Mthatha

The Department of Small Business Development has taken its Asset Assist programme to Mthatha, where Minister Stella Ndabeni-Abrahams has handed over equipment and financial support to participants from the OR Tambo area

This programme acts as a catalyst to help small businesses overcome financial challenges by providing essential support. Equipping entrepreneurs with the right tools is key to ensuring the success of their ventures.

Minister of Small Business Development Stella Ndabeni Abrahams says, “We’re here to hand over equipment to entrepreneurs that are beneficiaries of a program that we call asset assist; it’s an intervention program that we provide equipment that goes up to R250 000 to small businesses that have an annual turnover of less than R3 million. The second category is the cooperatives, through our cooperative supply support development program which provides equipment that goes up to R5 million, depending on the categories of the cooperatives. For example, the ones that we are here for today, are the entry-level which are the primary cooperatives.”

One of the beneficiaries started his chick-growing business with the money he received from NSFAS a few years ago. Additional funding for growth was however difficult to obtain.

Amar Farm Store’s Ngcali Takata says, “I produce chicks, one-day-old chicks from an egg, and then I retail them. I started this business in 2019 with a capital from NSFAS. First, I used to make a profit sales of R12 000 a month. Now that I’ve got these machines, I’m able to make sales of up to R27 000 a month, and I’ve got new employees.”

Some of the beneficiaries like Nosipho Tyanti and Khayakazi Nkqwiliso say they are already reaping the rewards.

“It took us a long time to be registered, after we were registered, we then went to SEDA where they really helped us. We got our first machines from SEDA, and we were able to sew and sell to people. The situation is much better now,” says Nosipho Tyanti, Ilingelethu Multi-Purpose Cooperation.

Khayakazi Nkqwiliso adds, “I’m feeling very happy. This has helped me a lot in putting food on the table for my family. residents now come to me to help them with my services.”

Ndabeni says her department will also work with the Department of Trade, Industry and Competition to assist South African spaza shop owners to ensure they are compliant.