Free State Business 2020 edition
The 2020 edition of Free State Business is the 10th issue of this highly successful publication that, since its launch in 2008, has established itself as the premier business and investment guide for the Free State. The Free State Development Corporation describes its work, including property management and investment support in several articles in this journal. The official launch of the Maluti-A-Phofung Special Economic Zone (MAP-SEZ) was a significant event for the economy of South Africa’s most centrally located province. Business and industrial parks form part of the economic strategy of the province’s planners and details of these facilities are outlined in this journal. In addition, overviews on each of the key economic sectors provide up-to-date information on trends in the manufacturing and tourism sectors, for example. Regular information about the size and nature of each sector is also included. Updated information on the Free State is also available through our monthly e-newsletter, which you can subscribe to online at www.globalafricanetwork.com, in addition to our complementary business-to-business titles that cover all nine provinces as well as our flagship South African Business title. The printed journal is distributed internationally on outgoing and incoming trade missions, through trade and investment agencies; to foreign offices in South Africa’s main trading partners around the world; at top national and international events; through the offices of foreign representatives in South Africa; as well as nationally and regionally via chambers of commerce, tourism offices, airport lounges, provincial government departments, municipalities and companies.
The 2020 edition of Free State Business is the 10th issue of this highly successful publication that, since its launch in 2008, has established itself as the premier business and investment guide for the Free State.
The Free State Development Corporation describes its work, including property management and investment support in several articles in this journal.
The official launch of the Maluti-A-Phofung Special Economic Zone (MAP-SEZ) was a significant event for the economy of South Africa’s most centrally located province. Business and industrial parks form part of the economic strategy of the province’s planners and details of these facilities are outlined in this journal.
In addition, overviews on each of the key economic sectors provide up-to-date information on trends in the manufacturing and tourism sectors, for example. Regular information about the size and nature of each sector is also included.
Updated information on the Free State is also available through our monthly e-newsletter, which you can subscribe to online at www.globalafricanetwork.com, in addition to our complementary business-to-business titles that cover all nine provinces as well as our flagship South African Business title.
The printed journal is distributed internationally on outgoing and incoming trade missions, through trade and investment agencies; to foreign offices in South Africa’s main trading partners around the world; at top national and international events; through the offices of foreign representatives in South Africa; as well as nationally and regionally via chambers of commerce, tourism offices, airport lounges, provincial government departments, municipalities and companies.
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SPECIAL OVERVIEW FEATURE<br />
• Some of the incentives are sector-specific, for<br />
example the Aquaculture Development and<br />
Enhancement Programme (ADEP), Clothing<br />
and Textile Competitiveness Improvement<br />
Programme (CTCIP) and the Tourism Support<br />
Programme (TSP).<br />
Manufacturing<br />
Key components of the incentive programme are<br />
the Manufacturing Incentive Programme (MIP) and<br />
the Manufacturing Competitiveness Enhancement<br />
Programme (MCEP). The initial MCEP, launched in<br />
2012, was so successful that it was oversubscribed<br />
with almost 890 businesses receiving funding. A<br />
second phase of the programme was launched in<br />
2016. The grants are not handouts as the funding<br />
covers a maximum of 50% of the cost of the investment,<br />
with the remainder to be sourced elsewhere.<br />
The Enterprise Investment Programme (EIP)<br />
makes targeted grants to stimulate and promote<br />
investment, BEE and employment creation in the<br />
manufacturing and tourism sectors. Aimed at smaller<br />
companies, the maximum grant is R30-million.<br />
Specific tax deductions are permissible for larger<br />
companies investing in the manufacturing sector<br />
under Section 12i of the Income Tax Act.<br />
Other incentives<br />
Other incentives available to investors and existing<br />
businesses in more than one sector include the:<br />
• Technology and Human Resources for Industry<br />
Programme (THRIP)<br />
• Support Programme for Industrial Innovation<br />
(SPII)<br />
• Black <strong>Business</strong> Supplier Development Programme<br />
(BBSDP), which is a cost-sharing grant offered to<br />
black-owned small enterprises<br />
• Critical Infrastructure Programme (CIP) that covers<br />
between 10% and 30% of the total development<br />
costs of qualifying infrastructure<br />
• Co-operative Incentive Scheme, which is a 90:10<br />
matching cash grant for registered primary<br />
co-operatives<br />
• Sector Specific Assistance Scheme, which is a<br />
reimbursable 80:20 cost-sharing grant that can<br />
be applied for by export councils, joint action<br />
groups and industry associations.<br />
Incentives for SMMEs<br />
A lot of emphasis is placed on the potential role of<br />
small, medium and micro enterprises in job creation<br />
and a number of incentives are designed to promote<br />
the growth of these businesses. These include:<br />
• Small Medium Enterprise Development<br />
Programme (SMEDP)<br />
• Isivande Women’s Fund<br />
• Seda Technology Programme (Stp).<br />
• Seda is the Small Enterprise Development Agency,<br />
an agency of the Department of Small <strong>Business</strong><br />
Development that exists to promote SMMEs.<br />
Trade-related incentives<br />
The Export Marketing and Investment Assistance<br />
(EMIA) Scheme includes support for local businesses<br />
that wish to market their businesses internationally<br />
to potential importers and investors. The scheme<br />
offers financial assistance to South Africans travelling<br />
or exhibiting abroad as well as for inbound potential<br />
buyers of South African goods.<br />
ONLINE RESOURCES<br />
Department of Trade, Industry & Competition:<br />
www.thedti.gov.za<br />
<strong>Free</strong> <strong>State</strong> Development Corporation:<br />
www.fdc.co.za<br />
Industrial Development Corporation:<br />
www.idc.co.za<br />
Official South African government incentive<br />
schemes: www.investmentincentives.co.za<br />
27 FREE STATE BUSINESS <strong>2020</strong> 2018
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