The City of Cape Town has launched the Business Retention and Expansion (BR&E) programme in Stikland to provide support to small and large businesses in the area to improve their development.
Also read: CoCT launches Ease of Doing Business Index to drive economic growth
Alderman James Vos, the City’s mayoral committee member for economic growth, says the main goal of the BR&E initiative is to focus on business growth, revenue and job opportunities for those in the surrounding community.
‘The programme will package existing City initiatives aimed at helping businesses to survive and thrive, which will be facilitated by the BR&E Branch. These initiatives include, among other things, the Business Hub, the Industrial Hotspot action plan, SMME toolkits, skills development programmes, and support projects administered by the City’s industry-specific Special Purpose Vehicles (SPVs).’
Approximately 471 businesses operate in the Stikland Precinct, including food and beverage factories, storage facilities, the automotive industry and engineering supplies.
As per the City of Cape Town, the creation of jobs in urban areas is mainly derived from existing business development, while an average of between 60% and 80% of new jobs are created by growing and expanding businesses.
Cape {town} Etc discount: Enjoy some delectable nachos and milkshakes for two on Kloof Street for just R199 (valued at R248). Get the deal here.
Between March 2020 and September 2022, the Investment Facilitation Branch held 2 185 engagements with 422 unique businesses. The branch has secured more than R43 billion of new investments in Cape Town, as well as thousands of jobs, since its inception in 2017.
‘It is through such partnerships and programmes that Cape Town has become the epicentre of investment and job creation in South Africa,’ says Vos. ‘By helping local entrepreneurs and businesses to not only keep their doors open but to grow, Cape Town will continue to be a beacon of economic prosperity.’
Those interested in contacting the Investment Facilitation Branch about the Business Retention and Expansion programme and other initiatives can send an email to [email protected].
Explore Cape Town and its surroundings with these incredible deals on cars for under 100k. Find car listings here.
Also read:
Western Cape launches R5 million fund to boost small tourism businesses
Picture: Marlin Clark / Pexels