Financial relief measures during the Covid-19 pandemic
Department of Small Business Development
The COVID-19 pandemic has in a matter of weeks turned our world upside down and has caused financial strain on businesses. In an effort to assist businesses the government has instituted some relief measures that may assist businesses during these trying times. Below mentioned are some of the relief measures available to businesses.
The Department of Small Business Development has launched two initiatives for Small, Medium and Micro Enterprises (SMMEs) to assist businesses to mitigate the financial impact the COVID-19 virus has on the businesses productivity, cash flow and loss of income.
The first initiative is the Debt relief finance scheme which aims to assist businesses affected by the Coronavirus to prevent or mitigate against job losses and harsh economic impact. The second initiative is called the Business growth/resilience facility which is aimed at businesses geared to take advantage of supply opportunities as a result of the pandemic or shortages in the local goods market.
Businesses will be required to demonstrate how the COVID-19 virus has made an impact on their business whether directly or indirectly.
To apply for assistance in terms of the schemes an application has to made in the following way:
Register on https://smmesa.gov.za/
Complete online Application Form;
Upload Required Supporting Documents
The Department has further released simple guidelines to assist applicants:
Guidelines for application: Debt relief finance scheme
Guidelines for business growth/resilience facility
The Department of labour and the Unemployment Insurance Commissioner has furthermore developed a Coronavirus Temporary Employer-Employee Relief Scheme to make a positive contribution to the impact that is caused by the pandemic. Employers that are required to close its operations as a direct result of COVID-19 and suffer financial distress shall qualify for the Covid19 Temporary Relief Benefit.
Employers are invited to make contact with the UIF through a dedicated mailbox: covid19ters@labour.gov.za to receive additional information and obtain available relief.
For more information please read the following guidance:
COVID 19 TERS benefits easy aid guide
Disaster Management Act notice