DEVELOPMENT: Boosts For Start-Up Businesses
Recent Western Cape Business News
The City of Cape Town’s Economic and Tourism Development Portfolio Committee is impressed with the progress that has been made with the Business Support Voucher Programme (BSVP). The Cape Agency for Sustainable Integrated Development in Rural Areas (CASIDRA) implements this programme for the City and recently gave a presentation to the Committee illustrating the programme’s successes over the last five years.
Since the City’s Economic and Human Development Department launched the BSVP in 2006, 5324 business vouchers have been issued. These vouchers provide city businesses with access to finance, supply chain opportunities and mentorship – benefits which are continually measured and reported.
The BSVP is one of the ways in which the Department exercises its Business Support Policy role, providing business development services and skills training. This is achieved through subsidising the cost of business support services provided by accredited Business Development Service Providers (BDS). These BDSs offer specialised technical and managerial support, while ensuring skills transfer to entrepreneurs.
The service is easily accessible across the city as it is available from all of the Red Door Centres and mobile outreach services, as well as the Ikapa business place in Cape Town.
“The demand on the programme has increased substantially during the last year, which has been a strong supporting mechanism for city enterprises during the recession,” said Mayoral Committee Member for Economic and Social Development, Alderman Felicity Purchase. “In the last two financial years alone, the programme has unlocked R8.6 million worth of business finance and R56.5 million in tender opportunities for voucher recipients,” she said.
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