The Gauteng Provincial Government has launched the Gauteng Enterprise Propeller (GEP), a small and medium enterprise (SME) agency and portal.
The agency, operating as a section 21 company, will provide a service offering financial and non-financial assistance for SMEs. It will also tackle challenges facing SMEs such as lack of capacity, training, information on markets and funding.
A provincial portal, www.gep.co.za, will support the agency`s work, by giving SMEs information about the tendering process and access to SME services for government and the private sector.
Paul Mashatile, MEC for finance and economic affairs in Gauteng, says SMEs have proven themselves in many parts of the world to be reliable drivers of economic growth and job creation.
"Because of their size, they tend to adapt more quickly to changing market conditions and collectively they tend to absorb more labour than big business," he says.
"The agency will go a long way towards unleashing the potential of SMEs, propel them to greater heights and ensure they play their role in poverty reduction, the creation of job opportunities and the expansion of economic participation," says Mashatile.
"For the current financial year, we have already set aside R300 million for the agency to do its work of supporting SMEs. Through this agency we expect to provide support to 30 000 SMEs by 2014.
"The support we are providing to SMEs forms an integral part of our interventions aimed at addressing the challenges of the 'second economy`, where the majority of people are still trapped," says Mashatile.
A call centre has also been established and can be reached on (011) 689-4300.
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