IMEDP programme unlocks potential of informal businesses
December 18, 2018
KwaZulu-Natal, South Africa: The Department of Small Business Development today handed over tools and equipment to informal business owners in KwaZulu-Natal (KZN).
“The recipients are part of the 7 848 applicants who applied for the Department’s Informal and Micro Enterprise Development Programme (IMEDP) throughout the country,” the department said in a statement on Monday.
The Informal and Micro Enterprise Development Programme unlocks the potential of informal traders by creating an enabling environment, which allows them to sustain their respective businesses and evolve into thriving entrepreneurs that will participate meaningfully in the mainstream economy.
Director-General Edith Vries delivered a keynote address.
“The IMEDP supports Informal and Micro Enterprises by providing them with operational support equipment to the maximum value of R10 000 per beneficiary. It further provides qualifying entrepreneurs with basic business management training followed by a 100% grant for the acquisition of basic equipment and tools,” the department said.
The department said it recognises the importance of the informal sector in achieving radical economic transformation and it will continue to drive the empowerment of informal businesses as they make a significant impact in reducing poverty, inequality and unemployment in South Africa.
The department will on Tuesday hand over equipment to eligible beneficiaries at various ceremonies in KZN.