How eThekwini Municipality is supporting small businesses

The eThekwini Municipality in Durban recently celebrated the 20th anniversary of the Durban Business Fair, a significant event that has grown in size and impact over the years. The Deputy City Manager for Economic Development and Planning, Phillip Sithole, highlighted the success of the fair, which has evolved from eight exhibitors to over 500 exhibitors, with a sold-out exhibition space. The fair features a street market showcasing Durban cuisine as part of the heritage month celebrations, expected to draw in thousands of visitors. Additionally, the fair hosts discussions and workshops focusing on doing business with government and the private sector, as well as the importance of networking. One key aspect of this year's fair is the participation of more than 10 countries from the African continent, including Nigeria, Zimbabwe, Mozambique, Botswana, and Ghana, demonstrating the international reach of the event. These countries are represented through sister city agreements with eThekwini Municipality, highlighting the city's efforts to foster partnerships and collaborations with African nations. The Durban Business Fair is recognized as one of the premier events in the country, contributing significantly to economic growth and job creation in the region. Despite concerns about a technical recession in South Africa, Sithole emphasized the importance of learning from other countries' experiences to navigate economic challenges. He stressed the pivotal role of government and cities in supporting businesses to stimulate economic growth and job creation. Sithole underscored the municipality's commitment to streamlining processes, such as supply chain management, to ensure timely payments to service providers, thereby enhancing cash flow for businesses and sustaining their operations. The small, medium, and micro-enterprise (SMME) sector plays a crucial role in employment, accounting for approximately 60-65% of jobs in eThekwini, with the informal sector further contributing significantly to the local economy. The municipality has implemented various programs to support both formal and informal businesses, offering infrastructure, regulation, and training initiatives. Additionally, eThekwini Municipality facilitates linkages between small and major businesses through procurement and approval processes, promoting collaboration across industries. Sithole emphasized the vital role that businesses play in sustaining the city's economy through rates payment and employment generation. Looking ahead, Sithole shared the municipality's vision for the future of the Durban Business Fair, aiming to make it an international event by attracting delegates from Europe and the US for the 21st anniversary celebration. The municipality has been working diligently on the program for the upcoming event, with plans to announce significant developments in the coming months.