No thanks, say informal-sector entrepreneurs to easy loans offer
CATEGORY: Media and COVID-19
DATE: 1 June 2020
AUTHOR: Moneyweb
DATE: 1 June 2020
AUTHOR: Moneyweb
Government is showering money on informal sector businesses to tide them over the Covid-19 crisis, but many township entrepreneurs seem less than enthusiastic about the offer.
To qualify for the relief offered by the Department of Small Business Development, they will have to obtain a licence to operate from the local municipality.
According to a study published by HSRC Press, ‘The South African Informal Sector: Creating Jobs, Reducing Poverty’, the informal sector provides employment and income for 2.5 million people, or about one in six of all jobs in the country, and contributes an estimated 6% of national GDP.
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