RICHARDS Bay’s small business owners got the lowdown on how to raise their businesses through funding from the Transport Education Training Authority (TETA).
TETA, which branches off the Skills Education Training Authorities (SETA), offers funding and training to entrepreneurs who service or supply transport industries such as freight handling, maritime, rail, road freight, road passenger and taxi sub sectors.
Speaking at the Zululand Chamber of Commerce and Industry (ZCCI) SMME Forum meeting on Tuesday, TETA practitioner Nomcebo Vezi explained the qualifying requirements for the organisation’s small business strategy grant, which can pay out anything up to R50 000 per year.
‘Applicants may be small levy paying organisations, non-government (NGO) entities, community-based organisations (CBO), community co-operatives (CBC) and businesses that have been rejected for mandatory grants.
‘But the organisation must have 49 or fewer employees registered with TETA and the core business should be in transport, except for NGOs, CBOs and CBCs.
‘Also important is that a business’ performance of previous and existing contracts were up to standard.
‘We also do not provide grants to applicants already receiving a grant from another SETA.’
She said SMMEs can apply multiple times, but funding will ultimately depend on the availability of funds.
‘We process applications on a quarterly basis, so if you apply now, you’ll be considered for the next quarter.
‘So far we are providing grants to 23 companies, including NGOs.
Vezi encouraged attendees to communicate any problems experienced directly with her.
‘We have not funded any businesses in Richards Bay so far.
‘It is a priority for us to assist businesses north from Durban through funding, formal education, skills training and mentoring programmes.’
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