Small Business Funding in KwaZulu-Natal

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Small business in KwaZulu-Natal

The Empangeni mega-hub is part of Transnet’s Enterprise Development programme and it is set-up as a “walk-in centre” for small businesses in need of the following assistance:

  • Company Registration
  • Business Skills Development
  • Temporary Office Space and mentorship
  • Tax Registration and Administration
  • Project Implementation and monitoring plans
  • Supplier Readiness Programme
  • Participating in the public procurement system.

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The hub was launched by the Minister of Public Enterprises, Pravin Gordhan and the Transnet chairperson, Dr Popo Molefe, in the presence of His Majesty King Goodwill Zwelithini, and Provincial government representatives. It is the fifth of its kind that Transnet has established in the country to promote small business development. Similar hubs are operational in Johannesburg (KwaZulu-Natal), Mdatsane (Eastern Cape), De Aar (Northern Cape) and in Saldanha (Western Cape).

To get the small businesses ready, Transnet has formed partnerships with entities such as South African Revenue Service (Sars), the National Youth Development Agency (NYDA), the Small Enterprise Financial Agency (Sefa) and the Small Enterprise Development Agency (Seda) that will provide accredited training programmes, registrations and capacity building to new and existing businesses.

The business centre is designed to function as a multipurpose hub that will be managed by Transnet while its strategic partners provide human capital resources, financial and non-financial support.

The programme has already assisted 16 small medium and micro-sized enterprises (SMMEs) business who were actively involved in the construction of the hub launched today. The 16 SMMEs are part of the incubation programme specializing in construction.

About KwaZulu-Natal

History

Is a province of South Africa that was created in 1994 when the Zulu bantustan of KwaZulu (“Place of the Zulu” in Zulu) and Natal Province were merged. It is located in the southeast of the country, enjoying a long shoreline beside the Indian Ocean and sharing borders with three other provinces and the countries of MozambiqueEswatini and Lesotho. Its capital is Pietermaritzburg and its largest city is Durban. It is the second most populous province in South Africa, with slightly fewer residents than Gauteng.

Known for

Absolutely out of this world. A multi-cultural showpiece global destination. The Zulu Kingdom, or the Province of KwaZulu-Natal (KZN) has a devout following throughout continental Africa. And it is right up there on “must-see, must- do” lists of discerning travelers around the world.These are all just some of the reasons why KZN remains a firm leader in the South African tourism space. The truth is; there IS just no comparison. Nowhere else in the world will you find such a unique fusion of raw natural beauty, modern sophistication, cultural diversity and pulsating energy – all in the most breathtaking natural setting.

Economy

KwaZulu-Natal plays a significant role in South Africa’s economy and is the second largest contributor to the country’s economy. The province contributes 16% to the national GDP after KwaZulu-Natal’s share of 34%. South Africa’s economic outlook, as with other developing economies, is vulnerable to both internal and external risks.

The provincial economy is driven mainly by the eThekwini metro and other district municipalities especially those dominated by urban areas. EThekwini contributes the most, 61%, which is attributable to economic activities such as tourism, harbour ports, and sugar refinery, among others

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KwaZulu-Natal Business facts:

The diversified nature of the KwaZulu-Natal economy is a key strength and has enabled a resilient response to the economic instability experienced. The lead economic sectors are industrial development and manufacturing, finance, real estate and business services, infrastructure development and construction, transport storage and communications, tourism, mining and beneficiation as well as wholesale and retail trade.

In terms of contribution to GDP, these are:

  • Manufacturing 22%
  • Finance, Real Estate and Business Services 20%
  • Wholesale and Retail Trade, Catering and Accommodation 15%
  • Transport, Storage and Communications 14%
  • Agriculture sector 4%

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Major Companies in KwaZulu-Natal

Brink Towing Systems is not just supporting a local SMME, it is hosting one in its Pietermaritzburg factory. Brink has recently increased annual capacity to 100 000 units which will mean more work for The Bag Ladies, who produce protective bags for the tow bars. The Bag Ladies previously repaired clothing and did some bag making, but with their own premises within the Brink facility (and advice on business management and the purchase of industrial-strength sewing machines), they can now set their sights higher. Brink’s largest customer is the Ford Ranger.

The Mathe Group’s tyre recycling plant at Hammarsdale has quickly increased capacity to 150 000 used truck tyres per year and intends going past 200 000 soon. A quarter of the rubber crumb product goes to Van Dyck Floors. Other applications include modified bitumen and as a component of artificial grass.

Toyota South Africa and Bell Equipment are manufacturing giants. Between the Toyota plant at Prospecton south of Durban and the Richards Bay facility of heavy-equipment manufacturer Bell Equipment, upwards of 11 000 people are employed. Both companies are market leaders.

Bell is in the process of transferring production of its current truck range to its factory in Germany, which will double in size to accommodate the growing demand for trucks in Europe and America. The shift will not affect employment levels at the Richards Bay site because Bell will start assembling Kamaz heavy-duty trucks in 2019 for the African market. Kamaz (pictured), a Russian brand that has won 14 Dakar rallies, is known for its reliability in tough conditions. Bell’s intention is to increase the percentage of local components over time.

Bell is best known for its heavy equipment which is primarily used in the mining and construction sectors. The listed company reported a 6% rise in revenue for the six months to June 2018, an amount of R3.7-billion.

Toyota recently invested a further R6.1-billion into its already very large plant at Prospecton. The company regularly sells about a quarter of the vehicles sold in South Africa, and accounts for the same proportion of export volumes. The Corolla car, the Hilux bakkie and the Fortuner SUV are manufactured at the plant.

Powerstar, a Chinese state-owned brand, assembles trucks in Pietermaritzburg on a site formerly used by Super Group. The companies that make Powerstar in Asia are the China North Vehicle Corporation (Norinco Motors) and BEIBEN, who produce about 60 000 heavy-duty commercial duty vehicles every year at their plant in Inner Mongolia.

Are you looking for Small Business Fanding in KwaZulu-Natal?

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CAPITAL CITY

DURBAN

OTHER MAJOR CITIES

PIETERMARITZBURG
DOLPHIN COAST

Its best to explore all financing options in KwaZulu-Natal, contact Cape Town Capital to find out what loan your business qualifies for.

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