Three months after small KwaZulu-Natal businesses were hit by civil unrest and looting, financial relief is finally on the way.
The province’s economic, development and environmental affairs department and Industrial Development Corporation together with Trade and Investment KwaZulu-Natal (TIKZN) have established a business support fund valued at R30m.
“The unrest in July damaged growth, jobs and transformation and affected investor confidence in the domestic economy,” said TIKZN.
“To mitigate the damage caused, TIKZN in collaboration with its strategic partners launched a special fund to support the affected SMMEs in urban, rural and township areas to restore what has been lost, preserve jobs and continue with efforts to re-industrialise the economy.
“This is grant ranges from R50,000 up to a maximum of R1m per business subject to the TIKZN business support fund application approval process.