Tourism Enterprise Development and Support Programme
The Department of Tourism today collaborated with the Western Cape Department of Economic Development and Tourism to host an information session for SMMEs on the services and initiatives under the Tourism Enterprise Development and Support Programme.
The Tourism Enterprise Development and Support Programme is part of a greater objective of the revised National Tourism Sector Strategy (NTSS) 2016-2026 to ensure the sustainable development and growth of tourism enterprises in a manner that facilitates inclusive participation, job creation and contributes to the competitiveness of tourism destinations.
In her keynote address, Deputy Minister Elizabeth Thabethe said it was critical for the department to develop a comprehensive Tourism Enterprise Development and Support Programme to increase SMME participation in the sector, and to reduce the high failure rate.
Tourism is a sector that has the potential to truly contribute to economic growth and job creation, and we believe that is can be driven by SMMEs.
The failure rate of SMMEs in our sector sits at seventy percent (70%), and we have to work together to change this.
We have developed a comprehensive Tourism Enterprise Development Support Programme to address the challenges that contribute to the failure of SMMEs, and to ensure that information and funding resources are made available to ensure success, said Deputy Minister Thabethe.
The information session elaborated on the key areas of the Tourism Enterprise Development and Support Programme, and featured presentations on the products and assistance offered by the Department of Tourism, Western Cape Department of Economic Development and Tourism (DEDAT), the Department of Small business Development, the National Empowerment Fund (NEF), SARS, ABSA, NEDBANK and the Industrial Development Corporation (IDC).
According to the Western Cape Department of Economic Development and Tourism (DEDAT), Cape Town’s economy is advancing steadily in light of the current drought challenges.
Despite the current drought situation, the economy in Cape town is performing well
Currently, construction to the value of 4 billion rand is underway in the City of Cape Town, and the real estate market is booming. These investments can be attributed to the successful marketing efforts of the tourism industry in the province, said Nezaam Josephs – Acting Chief Director for Economic Sector Support at DEDAT.
Josephs added that the sustainability of the economy and tourism is vested in the success of SMMEs, and reaffirmed that more could be done to ensure increased SMME participation in the economy.
Investing in the viability of SMMEs is critical to economic growth and job creation. I urge the financial institutions that are here today to reconsider investing in SMMEs as the future drivers of our economy, concluded Josephs.
The Western Cape information session is part of a nationwide awareness campaign that began in February 2018 to inform SMMEs about the Tourism Enterprise Development and Support Programme, and to encourage active participation in the initiative.
Source: Government of South Africa