Help is at hand for business owners
The purpose of this was so business owners, from both the formal and informal sectors, could get assistance with applying for possible funding.
The Umzinto Business Sector Committee is in the process of uplifting Umzinto and, for the past several weeks, has been meeting to plan ways in which the town and businesses can better themselves after the unrest.
There was a lot of hype in Umzinto last Thursday when the town was visited by members of the Umdoni Local Economic Development (LED), Small Enterprise Development Agency (SEDA) and National Empowerment Fund (NEF), together with representatives from the Umzinto Business Sector Committee, of course.
All of these parties mentioned went around town to see first-hand the many Umzinto businesses which were affected by the looting and which had been badly damaged.
The purpose of this was so business owners, from both the formal and informal sectors, could get assistance with applying for possible funding.
Themba Kunene from SEDA Port Shepstone said they are faced with many challenges as many businesses were not compliant.
“Due to this, many businesses don’t qualify for funding and the SEDA office can be contacted to get assistance with getting business compliant,” he said.
George Phiri, the NEF investment principal together with his team mentioned they could assist local businesses, mainly with buildings that were destroyed, with funding available up to R10-million. This, however, is subject to being selected for funding. Phiri added that an amount of R110-million has been set for disbursement to qualifying businesses and there’s an amount of R140-mil available.
He also said their processing time is done without much delay provided all requirements are met and all supporting documents are sent with the application.
Phiri suggested that people should visit their National Empowerment Fund webpage www.nefcorp.co.za as there are many other products available to assist businesses.
The NEF will return to Umzinto in two weeks.
Chairman of the Umzinto Business Sector Committee, Roy Singh was glad to see the initiative from Umdoni LED, SEDA and NEF and said all organisations should work in collaboration with each other as seen last week.
“We also urge businesses in Umzinto to contact us to air their concerns on either 039 9760846 or 073 2567855,” he said.
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