Vernon Mchunu vernon.mchunu@inl.co.za SMALL businesses operating within eThekwini Municipality, still reeling from the impact of the Covid-19 pandemic, are set to benefit from the R21 million economic recovery stimulus approved by the city’s executive committee (Exco) yesterday.
This comes as new data reveals that at least 72% of the country’s small, micro and medium enterprises (SMMEs) are in financial distress, with KwaZulu-Natal among the hardest hit provinces. Exco heard that of the 2 942 small businesses that met the criteria for qualification, only 700 would be assisted because of a limited budget. Scattered around the city’s seven regions and including those in rural and township areas, the SMMEs would be paid R30 000 each.
The sectors include rural and townhip based taverns, catering businesses, spaza shops, construction, tourism establishments, co-operatives,…