KwaZulu-Natal Business 2016-17 edition
The 2016-17 edition of KwaZulu-Natal Business is the eighth issue of this highly successful publication that, since its launch in 2008, has established itself as the premier business and investment guide to the KwaZulu-Natal province in South Africa. The province is unique in terms of its abundant natural and human resources, and is also one of the key drivers behind the South African economy. To complement the extensive local, national and international distribution of the print edition of the magazine (15 000 copies), the full content can also be viewed online at www.kwazulunatalbusiness.co.za. Updated information on KwaZulu-Natal is also available through our monthly e-newsletter, which you can subscribe to online at www.globalafricanetwork.com, in addition to our other business-to-business titles that cover all nine provinces, complemented by our flagship publication, South African Business.
The 2016-17 edition of KwaZulu-Natal Business is the eighth issue of this highly successful publication that, since its launch in 2008, has established itself as the premier business and investment guide to the KwaZulu-Natal province in South Africa.
The province is unique in terms of its abundant natural and human resources, and is also one of the key drivers behind the South African economy.
To complement the extensive local, national and international distribution of the print edition of the magazine (15 000 copies), the full content can also be viewed online at www.kwazulunatalbusiness.co.za.
Updated information on KwaZulu-Natal is also available through our monthly e-newsletter, which you can subscribe to online at www.globalafricanetwork.com, in addition to our other business-to-business titles that cover all nine provinces, complemented by our flagship publication, South African Business.
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OVERVIEW<br />
Development finance and<br />
SMME support<br />
Funds are available for entrepreneurs in <strong>KwaZulu</strong>-<strong>Natal</strong>.<br />
A<br />
mainstay of funding for small and medium enterprises<br />
in <strong>KwaZulu</strong>-<strong>Natal</strong> is the provincial government's Ithala<br />
Development Finance Corporation (Ithala). A total of 114 new<br />
enterprises received R276-million to help them get started in<br />
the 2014/15 financial year.<br />
The fund could claim the creation of 880 jobs on various projects,<br />
two of the biggest of which were the Ithala Trade Centre and the Mount<br />
Edgecombe Light Industrial Park. The former is designed as a 'one-stopshop'<br />
for all matters relating to the provincial Department of Economic<br />
Development, Tourism and Environmental Affairs (under which Ithala<br />
falls). The Light Industrial Park aims to integrate township businesses<br />
with 'upmarket' enterprises, especially with regard to supply chains.<br />
An amount of R61-million was set aside to create the infrastructure for<br />
the park.<br />
As a way of boosting township and rural communities, district warehousing<br />
facilities are being built using municipal and Ithala properties<br />
around the province. Small farmers and traders often struggle with<br />
storage so this solution will go a long way to assisting them to buy in<br />
bulk and, consequently, get some discounts on their purchases. The<br />
Small <strong>Business</strong> Growth Enterprise (SBGE) will run a pilot project which<br />
will also contain a bulk-buying component, thereby further assisting<br />
small enterprises.<br />
Another initiative aims to get small traders organised through the<br />
setting of a provincial small traders' association.<br />
Other provincial government initiatives promoting small business<br />
include the creation of the KZN Fashion Council (to support designers),<br />
the <strong>KwaZulu</strong>-<strong>Natal</strong> Furniture Initiative (aimed at 200 businesses)<br />
and industrial parks that will provide hubs for automotive supply and<br />
chemical enterprises.<br />
An active national agency in supporting entrepreneurs is the Small<br />
Enterprise Development Agency (Seda). Seda gives non-financial support<br />
through training, assistance with filling in forms, marketing and<br />
creating business plans.<br />
In <strong>KwaZulu</strong>-<strong>Natal</strong>, Seda runs 12 incubators which either help new<br />
businesses get started or assist with the rehabilitation of existing enterprises.<br />
Three models are used: Technology Demonstration Centres<br />
(demonstration and training); Technology Incubators (where the focus<br />
is rehabilitation); and Hybrid Centres, which combine elements of the<br />
other two models. The incubators in <strong>KwaZulu</strong>-<strong>Natal</strong> include ICT and<br />
SECTOR HIGHLIGHTS<br />
The KZN Growth Fund has<br />
to date disbursed over halfa-billion<br />
rand.<br />
• Absa's SME fund finances<br />
projects from R5 000 to<br />
R3-million.<br />
• Seda has 12 Incubators in<br />
<strong>KwaZulu</strong>-<strong>Natal</strong>.<br />
• Joint warehousing facilities<br />
are being offered to<br />
small traders.<br />
construction (three centres each),<br />
furniture and hi-tech (two each)<br />
and chemicals, and essential oils.<br />
Although Seda is not a financial<br />
institution in itself, in 2013/14<br />
it helped 1 379 small businesses<br />
KWAZULU-NATAL BUSINESS <strong>2016</strong>/<strong>17</strong><br />
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