WATCH: Small businesses COVID-19 fund relief explained

The small business development department confirmed that all small businesses considered for support. Courtesy #DStv403

JOHANNESBURG - Minister of Small Business Development, Khumbudzo Ntshavheni announced some interventions as South Africa battles CIVID-19 pandemic.

President Cyril Ramaphosa has announced a lockdown amid the spread of the coronavirus.

Ntshavheni said government will be supporting all small businesses across South Africa and across all demographics.

WATCH: Small businesses to receive COVID-19 fund relief

A payment holiday for specific SMMEs will also be introduced.

Spaza shops will also be supported during the lockdown.

COVID-19: 21-days lockdown explained

“We must indicate those spaza shops that will be open are strictly spaza shop that are owned by South Africans, managed and run by South Africans. We want to make sure that the quality of food and quality of products is there,” said Ntshavheni.

Ntshavheni warned companies and officials of misusing the fund.

To qualify for the fund, here are the requirements:

Companies must be owned 100 % by SA citizens
Employ at least 70 % SA nationals
Priority will be given to businesses owned by women, youth and people with disabilities.

All businesses seeking assistance must register on the SMME South Africa portal at www.smmesa.gov.za, which will open on 24 March.

Government is providing some financial relief for small businesses affected by the COVID-19 outbreak. Courtesy #DStv403

Source
eNCA