MMC Mathang opens SME hub in Alexandra
08 June 2016
Support for small, medium and micro enterprises (SMMEs) was the single most important intervention that could lead to equitable economic development, City of Johannesburg’s Member of the Mayoral Committee for Economic Development, Councillor Ruby Mathang, said on Tuesday June 7.
MMC Mathang was speaking at the official launch of Jozi SME Hub Alexandra in the City's Region E.
The Jozi SME Hub model was devised by the City to support and nurture entrepreneurs so they could gain in confidence, thrive as businesses and contribute to Johannesburg’s economic development. The hub, situated at Alexandra’s Ya Rona Mall, is one of a kind for the City.
Jozi SME Hub Alexandra houses under one roof a network of service providers, and networking and community-based organisations. The tenants are selected according to the quality of services they offer, their sustainability, service-oriented approach and contribution to the hub’s strategy and overall philosophy.
The City has over the past five years provided support to more than 24 000 SMMEs around Johannesburg.
“We aim to stimulate and support entrepreneurship and innovation necessary to position the City as a knowledge-based economy, integrate informal economic initiatives to create sustainable work and entrepreneurial opportunities, facilitate entrepreneurship development and support through capacity development, skills development, strategic procurement, and access to finance for these enterprises,” MMC Mathang said.
“This has touched up-and-coming entrepreneurs in various sectors and industries of the economy, helping them, initially, with basic business support. This support included tax and accounting advisory services, company registrations, tax compliance, and financial advisory and auditing.”
MMC Mathang said the Alexandra hub planned to provide business support to 500 entrepreneurs, offer funding facilitation valued at R20-million to businesses and provide business training to 300 entrepreneurs.
“We have the backing of financial partners in the form of the Small Enterprise Development Agency, Gauteng Enterprise Propeller, National Empowerment Fund, National Youth Development Agency, Anglo Zimele, Property Point, PSG, Productivity SA and Nedbank,” said the MMC.