Ready, get set-up, and grow – WCG’s R9 million 2024 SMME Booster Fund is open

After assisting more than 950 Small, Medium and Micro-Enterprises (SMMEs) across the Western Cape, sustaining 4 977 jobs, and dedicating R85,5 million since 2019, the latest window of the SMME Booster Fund is now open for applications.

“SMMEs are the lifeblood of our economy, fuelling up to 70% of jobs in South Africa. Put simply – we know that when SMMEs succeed, we all succeed. That's why the Western Cape Government (WCG) is passionately committed to supporting entrepreneurs and small enterprises to establish and grow, by creating a vibrant and inclusive business environment, making it easier than ever to thrive in the Western Cape,” said Provincial Minister of Finance and Economic Opportunities, Mireille Wenger.

Premier Alan Winde added, “Starting a business can seem overwhelming. But through our SMME Booster Fund we can guide new businessowners on their journey to success. For existing businesses, the fund can help them expand and grow. With every business that accesses this fund, we can all help to enable even more jobs and unleash the full potential of the SMME sector and economy.”

Minister Wenger continued, “Our work goes beyond just funding. Through our SMME Booster Fund, we provide bespoke support that empowers businesses to break down barriers and achieve remarkable growth. We're especially proud that, through our contributions, we can help women-, youth-, and township-owned enterprises, as well as those exporting to international markets reach their full potential.”

The 2024 SMME Booster Fund will dedicate R9 million funding support to SMME business development through capacity building, coaching, mentorship, and the acquisition of technical support (machinery, equipment, software, digital tools and more) in the following categories:

• Category 1: Developing SMMEs for the export market
• Category 2: Business incubation and acceleration support
• Category 3: Support to township-based businesses
• Category 4: Infrastructure support for entrepreneurial centres

“We have recently celebrated the progress made by the WCG’s economic action plan, ‘Growth For Jobs’ over the first year of its implementation. This strategy sets out a clear path to enable the private sector, particularly SMMEs, as the true job creators, to grow and thrive. Our goal is to build on these foundations, driving the Western Cape towards a trillion-rand economy by 2035, with an inclusive, sustainable, diverse, and resilient growth rate of 4 to 6 percent annually,” continued Minister Wenger.

“The 2024 window is now open for submissions and will close once all funds have been allocated to eligible applicants, so I urge interested organisations implementing business development support projects and programmes for SMMEs to apply without delay by visiting the Department of Economic Development and Tourism’s Website and searching for the SMME Booster Fund 2024. We are committed to strengthening economic foundations and expanding SMMEs to achieve significant growth and create the jobs needed to lift people out of poverty. Join us in building a thriving economy and a brighter future for all," concluded Minister Wenger.

Apply here now - https://www.westerncape.gov.za/general-publication/smme-booster-fund-2024