LEA assist entrepreneurs to access funding

LEA CEO Tebogo Matome
LEA CEO Tebogo Matome

During the 2016-17 financial year, the Local Enterprises Authority (LEA) assisted 1,312 Micro Enterprises from the Youth Development Fund and the Department of Gender Affairs Fund to develop business plans so that they could benefit from these two government initiatives.

This came out of the realisation that although there are many reasons for business failures, ranked high on the list is difficulty in accessing funding and lack of planning.  Business planning does not only ascertain the viability of the business, but also provides a roadmap for the business, as well as a justification to seek loans from the financing institutions.

 The Micro Enterprises that were assisted at the 13 LEA branches across the country included services such as business counselling and pre-screening; screening; and needs and gap analysis.

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