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Businesses urged to apply for City's Economic Recovery Fund

​Applications for the City’s Economic Recovery Fund to help boost local, small businesses are now open. Small businesses that have been severely affected by the Covid-19 pandemic are urged to apply for this fund which officially opened on 3 September. Applications close on 30 September.

The fund aims to assist formal and informal businesses that operate within the eThekwini region and have been in existence for a minimum of 12 months as well as enterprises that have not benefited from any other recovery fund.

Head of the Municipality’s Business Support, Tourism and Markets Unit Thulani Nzama, who is responsible for facilitation of the fund, said: “The fund aims to boost small businesses that are at risk of shutting down their enterprises which may lead to the shedding of jobs. This will support business recovery in instances where national support measures have not been able to assist.”

He said the unit’s purpose is to provide integrated support to existing and potential businesses, enabling them to undertake income-generated activities resulting in job creation and economic growth. “Hence we present this fund to stimulate small businesses so that they can recover and create sustainable jobs.”
Nzama said in addition to this, they have offered a ‘rental payment holiday’ to small businesses since the end of March.

This multi-million-rand Economic Recovery Fund is not intended to duplicate national support measures, but rather to provide assistance in instances where the support measures have not been adequate or to fund socio-economic projects and activities that are local in nature and will protect the vulnerable, while creating jobs.

The fund has been made available through identified savings across departments and clusters in the Municipality.

Applicants are welcome to collect the forms from their local Sizakala Centre or fill in the e-form on www.dbnbusinessfair.com

nonduduzo.ngcongo@durban.gov.za

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