The Free State Department of Economic, Small Business Development, Tourism and Environmental Affairs (DESTEA) has extended the deadline for Industrialisation Support Incentives applications to Friday, 18 June 2021.
DESTEA MEC, Makalo Mohalo, launched the Industrialisation Support Incentives on 28 May 2021, aimed at assisting industrialists in the province.
The incentives form part of an economic transformation strategy to resuscitate and revitalise the provincial economy, while ensuring job retention and job creation.
Applications opened from 31 May – 15 June 2021, and applicants were encouraged to apply online on the department’s website.
“The department has since received requests for an extension to accommodate applicants who have been working on their compliance. Applications will therefore remain open online till midnight on 18 June 2021,” the department said in a statement on Thursday.
The incentives are divided into three categories, including established manufacturers, emerging manufacturers, and informal manufacturers.
The established manufacturers’ incentive aims to provide established enterprises involved in manufacturing and industrialisation with factory space rental subsidies of R2 million maximum, per applicant.
The emerging manufacturers’ incentive aims to provide enterprises at the incubation or start up stage, who are in manufacturing and industrialisation, with factory rental subsidies of R1 million maximum, per applicant.
The informal manufacturers’ incentive aims to provide informal/unregistered manufacturers with factory space rental subsidies, and set-up costs grants to support manufacturing and industrialisation operations of R300 000 maximum, per applicant.
To qualify, applicants should provide a bankable business plan; Companies and Intellectual Property Commission (CIPC) registration; Central Supplier Database (CSD) registered; valid tax clearance; licensing (Business Act no 7 of 1991), where applicable; business plan or proposal, and financial statements (12 month’s bank statements).
The applicants should also provide a Broad-based Black Economic Empowerment (BBBEE) status Level 1 contributor; procure locally manufactured products from other South African small, medium and micro enterprises (SMMEs), and demonstrate the ability to produce theirown products.
They must further be South African citizens and Free State residents.
All qualifying applicants are encouraged to apply online on the department’s website using the link http://www.destea.gov.za/?page_id=5103. – SAnews
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