Bounce-back loan scheme for effects of pandemic
Now Inospace, South Africa’s largest owner of serviced logistics parks, is pushing for government to clarify what the loan scheme will entail. “Inospace believes government must urgently provide funds and facilities to help small businesses with their existing debts and payments, buy raw materials and manage other operational and procurement costs,” Jacques Weber, COO of Inospace says.
The department of small business development recently said that, together with public and private stakeholders, it was working on an energy relief package for SMEs affected by load-shedding. “We would welcome “bounce-back” measures that translate into financial assistance,” says Weber. While load shedding persists, thousands of SMEs are staring down the barrel contemplating shedding jobs, lowering production or possibly winding up. The SME segment of the economy does not have the means to get off the grid through costly alternative power solutions, he says.