President Cyril Ramaphosa says government will this year focus on significantly expanding the small business incubation programme.<\/p>\n
The incubation programme provides budding entrepreneurs with physical space, infrastructure and shared services, access to specialised knowledge, market linkages, training in the use of new technologies and access to finance.<\/p>\n
\u201cThe incubation programme currently consists of a network of 51 technology business incubators, 10 enterprise supplier development incubators and 14 rapid youth incubators.<\/p>\n
\u201cAs part of the expansion of this programme, township digital hubs will be established, initially in four provinces, with more to follow,\u201d said the president on Thursday night, as he delivered his second State of the Nation Address, in Parliament.<\/p>\n
The President said it was expected that the hubs will provide most-needed entrepreneurial service to small and medium enterprises in the rural areas and townships – but more especially to young people who want to start their businesses.<\/p>\n
The specific focus on the small business incubation programme was due to the role small businesses play in stimulating economic activity and employment and in advancing broad-based empowerment.<\/p>\n
\u201cOur greatest challenge is to create jobs for the unemployed of today, while preparing workers for the jobs of tomorrow,\u201d he said.<\/p>\n
\u201cWe have come up with great plans, platforms and initiatives through which we continue to draw young people in far greater numbers into productive economic activity through initiatives like the Employment Tax Incentive.<\/p>\n
\u201cThis incentive will be extended for another 10 years,\u201d said president Ramaphosa.<\/p>\n
Government also launched the Youth Employment Service, which is placing unemployed youth in paid internships in companies across the economy.<\/p>\n
The president called on all companies, both big and small, to participate in this initiative and thereby contribute not only to building their business but also to building the economy and fostering social cohesion.<\/p>\n
\u201cProgress is being made in the areas of installation, repair and maintenance jobs, digital and tech jobs like coding and data analytics, as well as global business services.<\/p>\n
\u201cThese enable us to absorb more youth \u2013 especially those exiting schools and colleges, and those not in any education, training or employment \u2013 into productive economic activity and further work opportunities,\u201d he said.<\/p>\n
Government will also intensify the \u201cbuy South Africa\u201d programme.<\/p>\n
\u201c..We will pursue measures to increase local demand through, among other things, increasing the proportion of local goods and services procured both by government and the private sector.\u201d<\/p>\n
He said increasing local demand, and reducing the consumption of imports, is important, because it increases the opportunities for producers within South Africa to serve a growing market.<\/p>\n