The Department of Small Business Development has launched The Township and Rural Entrepreneurship Programme (TREP). The programme aims to promote and integrate business opportunities in townships and rural areas.
TREP aims to create platforms that provide business support infrastructure and an environment where entrepreneurship can thrive and grow. The initiative will be spearheaded by the Department of Small Business Development (DSBD), Seda, and sefa.
The real value of the burgeoning township economy is, however, hard to quantify due to informal trading and a legacy of economic exclusion. Despite a lack of regulation and data, the South African government agrees that supporting township economies is vital to the country’s recovery from the coronavirus-induced downturn.
To develop and formalise the sector, which faces an uphill battle in accessing capital through formal financial institutions, government founded the Small Business Development Ministry in 2014. Shortly before the Covid-19 pandemic gripped South Africa, the TREP initiative tabled by the Department of Small Business Development was approved and allocated a reprioritised budget of R413 million.
The Township and Rural Entrepreneurship Programme
The programme is targetted at township and rural-based enterprises that are owned by entrepreneurs who are based in these respective areas.
With economic exclusion preventing many budding and talented entrepreneurs from these spaces enter the market, the programme aims to create an environment that supports the growth of entrepreneurial activity with dedicated business support and funding access to enterprises located in rural and township areas.
The programme will provide selected participants with access to remote business incubation, business skills training, product development support, and credit guarantee. In addition, the programme will provide entrepreneurs the opportunity to pitch for funding and access to funding including working capital.
How to participate in the programme
In order to apply for the programme, enterprise owners must be South African Nationals. Interested applicants must complete an application form and submit the form to trep@sefa.org.za.
Funding applications must be completed through the Small Enterprise Development Agency (Seda), the Small Enterprise Finance Agency (sefa), National Empowerment Fund (NEF), and the National Youth Development Agency (NYDA).
