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Establishment of small business advisory body approved

22 Aug 2024

Cabinet has approved the establishment of an advisory body within the Department of Small Business Development (DSBD) that will ensure representation and promotion of the interest of small enterprises.

Source: Unsplash

The establishment of an advisory body is prescribed by the National Small Enterprise Act, 1996 (Act 102 of 1996), as amended.

Briefing the media on the outcomes of the Cabinet meeting held on Wednesday, Minister in The Presidency, Khumbudzo Ntshavheni said the establishment of an advisory body is to ensure representation and promotion of the interest of small enterprises as contemplated in the National Strategy for the Development and Promotion of Small Enterprises in South Africa.

“The primary function of the advisory body will be to advise the Minister [of the DSBD] on broad areas that affect small enterprise growth, including national standards pertaining to small enterprise development and regulation.

“The advisory body will provide government with evidence-based expert advice on the functioning of various aspects of the small enterprise support ecosystem to enable more effective policy reforms, legislative amendments, and design of interventions to support micro, small and medium enterprises and cooperatives,” Ntshavheni said at Thursday’s briefing.

Source: SAnews.gov.za

SAnews.gov.za is a South African government news service, published by the Government Communication and Information System (GCIS). SAnews.gov.za (formerly BuaNews) was established to provide quick and easy access to articles and feature stories aimed at keeping the public informed about the implementation of government mandates.

Go to: http://www.sanews.gov.za