SONA 2023 | Business groups optimistic after President’s SONA

Business organisations say they are cautiously optimistic over support plans included in the State of the Nation Address. President Cyril Ramaphosa announced measures which include plans to finalise amendments to the Businesses Act, to reduce regulatory impediments for SMMEs and cooperatives. The President also announced plans to provide R1.4 billion to help over 90-thousands entrepreneurs. He also says government will partner with the SME Fund to finance R10-billion in support of SMME growth.