A chunk of the Small Enterprise Development Agency’s budget for 2022/23 will be used to establish incubation hubs and support tech SMMEs. This was revealed during SEDA’s annual performance and budget briefing with Parliament’s Portfolio Committee on Small Business Development.
The interventions include training and mentorship programmes, creating employment, and opening new markets for small businesses and cooperatives in various sectors. Mbatha revealed that R62-million would be set aside to establish 11 incubation hubs by the end of the year, bringing the total number of hubs to 121, with a focus on the digital space and digital incubators.
He also said that the agency was looking to reach 2500 SMMEs through its incubation programme. Around R159-million would come from the SEDA Technology Programme to support small businesses in the tech space. The agency was also targeting 100 SMMEs and cooperatives to help them participate in international markets, and at least another 2000 of them would get exposure to the local market.
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