South Africa: SMME emergency funding during COVID-19

All SMME's can now apply for emergency funding due to the COVID-19 outbreak

Applications for emergency funding opened after the 21-day lockdown announced by President Ramaphosa. All South Africans barring those in essential services, including the production, distribution and supply of food – will have to lockdown to curb Covid-19 infections.

The assistance that will be made available to small businesses

  • R500 a month for the next four months to private sector employees earning below R6500.
  • Delayed and reduced PAYE liabilities for tax compliant businesses with a turnover of less than R50 million.
  • R3 billion fudnding package by the the IDC (ndustrial Development Corporation) together with the dti (department of trade, industry) and competition for industrry funding to assist vulnerable firms and to help finance companies critical to efforts to fight the virus and its economic impact.
  • R200 million rand will be made available by the department of tourism to assist the tourism and hospitality sector who are taking strain over the COVID-19 outbreak.

Apply for funding here