From SIOPSA Professional Practice Portfolio
24 March 2020
Small, micro and medium enterprises have been provided with a relief-fund to assist in operational, labour and material cost management funding. This mechanism provides support for healthcare practitioners who have not been able to adequately plan and provide for their practice, noting the financial strain that will most likely be experienced in the coming months. Unfortunately, this effort has also been plagued by ‘fake news’ which has been circulating various social media platforms indicating an out-dated criteria that one has to meet in order to register for relief-funding.
The Small Business Minister, Ms Khumbuzo Ntshavheni, addressed the matter and indicated in no uncertain terms that this mechanism will support and not discriminate based on racial composition of small business, and that “…all small businesses will be supported across the demographic of our population…” (https://www.youtube.com/watch?v=oThAiIQ8KV0, visible from minute 34:00 onwards in the recording). Three financial funding instruments are discussed within this discussion, noting that they are specifically designed for small, micro and medium enterprises.
We therefore urge practitioners to be mindful of destructive aspects like ‘fake news’ and further verify aspects of any financial instruments and funds one will access, in order to support the viability of your business, should you qualify for these instruments. This particular instrument provided by the Small Business Ministry has been made available and would require you to register on the SMME South Africa platform.
View the full video here