Funding boost for Famous Brands
It was good to see the IDC put its hand deep into its well funded pockets in support of small business and specifically the franchise industry in a recent deal with Famous Brands.
With many small businesses struggling to live with the governments BEE strategies and in many cases taking the brunt of the risk on this, entrepreneurs in some industries will see this as a step in the right direction. Small and micro enterprise (smme) support and enticement could be seen as two of the easier ways to stimulate South Africa's economy and with the smmme sector already in trouble and lagging far behind that of other developing countries around the world, much more of this is needed.
Concerns may be raised that certain industries are receiving more funding than others and that the money seldom reach the areas where it can have the biggest effect. We would encourage a move from the IDC not only to publish details of the funding granted to certain industries, but also to publish the results and effects that such funding may be creating.
The above is in response to the article by Edward West below.
Your comments welcome,